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Nuvectis Pharma Announces Closing of $15.5 Million Public Offering of Common Stock and Full Exercise of Underwriter’s Over-Allotment Option
FORT LEE, NJ, Feb. 07, 2025 (GLOBE NEWSWIRE) -- Nuvectis Pharma, Inc. (Nasdaq: NVCT), a clinical-stage biopharmaceutical company focused on the development of
About this update from Nuvectis Pharma, Inc.
[{"type":"text","content":"FORT LEE, NJ, Feb. 07, 2025 (GLOBE NEWSWIRE) -- Nuvectis Pharma, Inc. (Nasdaq: NVCT), a clinical-stage biopharmaceutical company focused on the development of innovative precision medicines for the treatment of serious conditions of unmet medical need in oncology, today announced the closing of its previously announced underwritten public offering of 2,700,000 shares of its common stock, and the exercise in full of the underwriter’s option to purchase 405,000 additional shares. The common stock shares were offered at a price of $5.00 per share, resulting in gross proceeds to Nuvectis of approximately $15.5 million, before deducting underwriting discounts and commissions. Lucid Capital Markets acted as the sole book runner for the offering. Nuvectis intends to use the net proceeds from the offering to continue to advance the development programs of NXP800 and NXP900 or any future product candidate, hiring of additional personnel, capital expenditures, costs of operating as a public company and other general corporate purposes. The securities described above were offered by Nuvectis pursuant to its shelf registration statement on Form S-3 (File No. 333-270657) with the U.S. Securities and Exchange Commission (“SEC”) on March 17, 2023 and declared effective by the SEC on March 29, 2023. The final prospectus supplement relating to and describing the terms of the offering has been filed with the SEC and is available on the SEC's web site at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to these securities may also be obtained, when available, by contacting Lucid Capital Markets, LLC, 570 Lexington Avenue, 40th floor, New York, NY 10022. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Nuvectis Pharma Nuvectis Pharma, Inc. is a biopharmaceutical company focused on the development of innovative precision medicines for the treatment of serious conditions of unmet medical need in oncology. The Company is currently developing two clinical-stage drug candidates, NXP800 and NXP900. NXP800 is an oral small m...