Business
NextCure Reports Second Quarter 2020 Financial Results
BELTSVILLE, Md., Aug. 06, 2020 (GLOBE NEWSWIRE) -- NextCure, Inc. (Nasdaq: NXTC), a clinical-stage biopharmaceutical company committed to discovering and
About this update from Nextcure, Inc.
[{"type":"text","content":"BELTSVILLE, Md., Aug. 06, 2020 (GLOBE NEWSWIRE) -- NextCure, Inc. (Nasdaq: NXTC), a clinical-stage biopharmaceutical company committed to discovering and developing novel, first-in-class immunomedicines to treat cancer and other immune-related diseases, today reported second quarter 2020 financial results and provided a business update.\n “Despite our recent announcement that we did not see sufficient clinical activity required for advancement in our initial non-small cell lung cancer and ovarian cancer Phase 2 cohorts, we remain encouraged about the NC318 single agent activity we have seen in patients with both non-small cell lung and head and neck cancers. We are working diligently in hopes of better understanding Siglec-15 biology and evaluating biomarkers that may provide a focused path forward. We anticipate having more information by the end of this year,” said Michael Richman, NextCure’s president and chief executive officer. “We recently initiated the Phase 1 portion of a Phase 1/2 clinical trial of NC410, our second product candidate, and expect to have initial clinical data for that trial in the second half of 2021. We remain highly committed to our goal of bringing novel immunomedicines to patients and remain focused on advancing our current clinical and preclinical programs.” Business Highlights and upcoming milestones Observed one confirmed partial response in head and neck squamous cell carcinoma (HNSCC), and advanced this indication to the stage 2 portion of the Simon 2-stage trial of NC318.Continued enrolling new patients in the HNSCC and triple-negative breast cancer cohorts of the NC318 monotherapy trial.Reported initial biomarker data from the Phase 1 portion of the NC318 Phase 1/2 monotherapy clinical trial at the virtual American Society of Clinical Oncology Annual Meeting.Initiated the Phase 1 portion of a Phase 1/2 clinical trial for NC410. Financial Results for Quarter Ended June 30, 2020 Cash, cash equivalents and marketable securities as of June 30, 2020 were $309.3 million, compared to $334.6 million as of December 31, 2019. The decrease of $25.3 million primarily reflects cash used to fund operations of $23.0 million and cash used to purchase fixed assets of $4.3 million.Research and development expenses were $11.1 million for the quarter ended June 30, 2020, as compared to $7.6 million for the quarte...