Business
NextCure Reports Third Quarter 2020 Financial Results
BELTSVILLE, Md., Nov. 05, 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., Nov. 05, 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 third quarter 2020 financial results and provided a business update.\n “We continue to enroll in our ongoing NC318 and NC410 clinical trials. In addition, we are making progress analyzing biomarker data, including Siglec-15 expression in biopsies from the NC318 Phase 2 trial,” said Michael Richman, NextCure’s president and chief executive officer. “We look forward to providing a clinical update and additional biomarker data on the NC318 monotherapy trial by the end of 2020 and remain committed to our goal of developing novel immunomedicines for patients who do not respond to standard treatments or existing immunotherapies.” Business Highlights and upcoming milestones Continue enrolling new patients in the head and neck squamous cell carcinoma and triple-negative breast cancer cohorts of the NC318 Phase 2 monotherapy trial.Plan to report updated clinical and initial biomarker data from the Phase 1 and 2 portions of the NC318 Phase 1/2 monotherapy clinical trial by the end of 2020.Continue enrolling patients in the Phase 1 portion of a Phase 1/2 clinical trial for NC410 and remain on track to report initial clinical data in the second half of 2021 as planned.Two abstracts regarding pre-clinical research for the NC410 program accepted for poster presentation at the upcoming virtual 35th Annual Meeting of the Society for Immunotherapy of Cancer (SITC) in November.Announced the appointment of John G. Houston, Ph.D., president and chief executive officer of clinical-stage biopharmaceutical company Arvinas, Inc., to NextCure’s Board of Directors. Financial Results for Quarter Ended September 30, 2020 Cash, cash equivalents and marketable securities as of September 30, 2020 were $291.2 million, as compared to $334.6 million as of December 31, 2019. The decrease of $43.4 million as of September 30, 2020 as compared to as of December 31, 2019 primarily reflects cash used to fund operations of $38.6 million and cash used to purchase fixed assets of $6.2 million offset by a reduction in restricted cash of $1.1 million.Research and development expenses were $12.7 million for th...