Business
Nuvectis Pharma, Inc. Reports Second Quarter 2022 Financial Results and Business Highlights
NXP800 Phase 1a Dose-Escalation Study Progressing as Planned, Commencement of Phase 1b Expansion Study Expected in Q1 2023NXP800 IND Cleared by the U.S. FDA,
About this update from Nuvectis Pharma, Inc.
[{"type":"text","content":"NXP800 Phase 1a Dose-Escalation Study Progressing as Planned, Commencement of Phase 1b Expansion Study Expected in Q1 2023NXP800 IND Cleared by the U.S. FDA, U.S. and U.K. Sites Now Participating in the Clinical ProgramNXP900 IND-Enabling Work Progressing as Planned, Expected Completion by Year-End 2022Recently Completed Private Placement Extends Cash Runway into H2 2024 FORT LEE, N.J., Aug. 05, 2022 (GLOBE NEWSWIRE) -- Nuvectis Pharma, Inc (NASDAQ: NVCT) (\"Nuvectis\" or the \"Company\"), a biopharmaceutical company focused on the development of novel therapies for the treatment of serious conditions of unmet medical need in oncology, today reported its financial results for the second quarter of 2022 and provided an update on recent business progress. “Nuvectis has made excellent progress this year towards its goal of becoming a leading precision medicine company with a robust, novel pipeline to treat unmet needs in oncology” said Ron Bentsur, Chairman and Chief Executive Officer of Nuvectis. “The NXP800 Phase 1a dose-escalation study is proceeding as planned with the start of the Phase 1b expansion phase expected in Q1 2023. With the U.S. Food and Drug Administration’s (“FDA”) clearance of the NXP800 Investigational New Drug Application (“IND”), we now have clinical sites in the United States participating in the clinical program in addition to sites in the United Kingdom. We also look forward to sharing updates on new potential target indications, in addition to ovarian clear cell and ovarian endometrioid carcinoma, later this year.” Mr. Bentsur continued: “The body of evidence supporting the therapeutic potential of NXP900 continues to grow, and we are pleased with the recent preclinical data demonstrating robust activity of NXP900 in a xenograft model of Group 4 Medulloblastoma, a disease that affects mosrtly pediatric patients. We expect to complete the IND enabling studies by the end of this year.” Mr. Bentsur concluded: “The closing of a private placement earlier this month, coupled with our careful attention to spending, is expected to extend our cash runway into H2 2024. Based on the excellent second quarter progress, while leveraging our experienced team and expanded cash resources, I believe Nuvectis is well-positioned to potentially generate meaningful proof of concept data on its pipeline programs over the next ye...