Nextcure, Inc. · NASDAQ:NXTC
Nextcure — Investor Presentation (April 2025)
16 slides from Nextcure's investor presentation, Apr 10, 2025
Slide 1: Corporate Presentation
Corporate Presentation NASDAQ: NXTC APRIL 2025
Slide 2: Forward-Looking Statement
Forward-Looking Statement 2 To the extent that statements contained in this presentation are not descriptions of historical facts, they may be deemed to be forward-looking statements under the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations, forec
Slide 3: Value-Driven ADC Opportunity
3 Value-Driven ADC Opportunity • LNCB74 POC in 1H 2026 • Breast, endometrial and ovarian cancers 2026 CLINICAL POC PHASE 1 CLINICAL ASSET • LNCB74 (B7-H4) a differentiated ADC • Validated target • Balance sheet, ~$68 M, end of Q4 • Runway 2H 2026 RUNWAY
Slide 4: Focused on a Clinically Validated Target with High Unmet Need
Focused on a Clinically Validated Target with High Unmet Need 4 PROGRAMS TARGET PAYLOAD PRECLINICAL PHASE 1 LNCB74 B7-H4 MMAE Co-development with Breast, Ovarian, Endometrial 1H 2026 Safety, Efficacy & Biomarker Data
Slide 5: LNCB74 B7-H4 ADC
5 LNCB74 B7-H4 ADC DIFFERENTIATED ADC Unique antibody linker STRATEGIC PARTNERSHIP 50/50 co-development partnership with LigaChem Biosciences MULTIPLE INDICATIONS Breast, Ovarian, Endometrial PH1 CLINICAL ASSET • US clinical trial ongoing • CLIA validated IHC biomarker assay
Slide 6: Deep Expertise in B7-H4
Deep Expertise in B7-H4 6 • Extensive publications • Expertise in expression • Repertoire of models • Top-tier KOL collaborative network • Validated patient selection assay • Co-development & cost-sharing • Significant success advancing ADCs • Differentiated linker technology
Slide 7: Advancing LNCB74 Development
Advancing LNCB74 Development Data Readout POC 1H 2026 Cohort 1 Cohort 2 Cohort 3 Cohort 4 Backfill Cohorts ✓ ✓ 7 Dose Expansion • 4 dose cohorts • Regimen Q3W • N=65 subjects • 2 dose cohorts • 2 tumor types • N=80 subjects • Pre & on treatment biopsies Patient selection strategy Patient selection s
Slide 8: LNCB74 is a Differentiated Anti-B7-H4 MMAE ADC
LNCB74 is a Differentiated Anti-B7-H4 MMAE ADC Fc Modification Protects immune cells Tumor Selectivity Glucuronidase cleavable linker provides improved safety & increased efficacy 8 MMAE DAR 4 Improves targeted release and safety Antibody Linker Payload STRUCTURAL DIFFERENTIATION
Slide 9: LNCB74 Uses Differentiating Glucuronidase Linker for Improved Safety & Increased Efficacy
LNCB74 Uses Differentiating Glucuronidase Linker for Improved Safety & Increased Efficacy 9 Bloodstream Tissues Cancer Cell Bystander Effect Linker Glucuronidase cleavable Payload Tubulin inhibitor Conjugation Site Specific DAR 4 •Efficient release of toxin •Higher concentration Stable Potent Soluti
Slide 10: Key Differentiating Features of Glucuronidase Linkers
Key Differentiating Features of Glucuronidase Linkers 10 Time (Hours) Relative Toxin Concentration per Cancer Cell 100% Val-cit Linker Glucuronidase Linker Control ADC Glucuronidase Linker Val-cit Linker Site specific attachment to mAb □ Non-specific attachment to mAb Highly stable linkage □ Uns
Slide 11: LNCB74 Shows Potent Anti-Tumor Activity in CDX and PDX Models
11 LNCB74 Shows Potent Anti-Tumor Activity in CDX and PDX Models OVARIAN (OVCAR-3-B7-H4-OE) Days from Treatment Initiation Mean Volume (mm3) +/- SEM TNBC (CTG-0012) Mean Volume (mm3) +/- SEM Days from Treatment Initiation BREAST (ZR-75-1) Days from Treatment Initiation Mean Tumor Volume (mm3) +/- SE
Slide 12: LNCB74 is More Effective than Comparator B7-H4-MMAE
LNCB74 is More Effective than Comparator B7-H4-MMAE 12 0 10 20 30 40 0 500 1000 1500 2000 No Treatment LNCB74 3 mg/kg Comp 3 mg/kg 0 10 20 30 40 0 500 1000 1500 2000 No Treatment Comp 4.5 mg/kg LNCB74 4.5 mg/kg 0 10 20 30 40 0 500 1000 1500 2000 No Treatment LNCB74 6 mg/kg Comp 6mg/kg 30 40 50 60 0
Slide 13: B7-H4 Competition and Differentiation
B7-H4 Competition and Differentiation Key Features LNCB74 XMT-1660 HS-20089 AZD8205 DB-1312 / BG-C9074 ADC Design • B7-H4 mAb • B7-H4 mAb • B7-H4 mAb • B7-H4 mAb • B7-H4 mAb • Glucuronidase cleavable linker • Protease cleavable linker • Protease cleavable linker • Pegylated Val-Ala cleavable linker
Slide 14: Opportunity to Develop Differentiated B7-H4 ADC Therapeutic
IMPROVED SAFETY & INCREASED EFFICACY Opportunity to Develop Differentiated B7-H4 ADC Therapeutic 14 B7-H4 ADC UNMET NEED IN BREAST & GYNECOLOGICAL CANCERS PATIENT SELECTION STRATEGY
Slide 15: Programs Available for Partnering
Programs Available for Partnering 15 PROGRAMS TARGET CELLS DISCOVERY PRECLINICAL PHASE 1 PHASE 2 PHASE 3 NC410 Combo LAIR-2 Extracellular Matrix NC525 LAIR-1 Leukemia NC605 S15 Osteoclasts NC181 APOE4 Microglia & Neurons Alzheimer’s Disease Osteogenesis Imperfecta Acute Myeloid Leukemia Colorectal (
Slide 16: B7-H4 ADC Opportunity
16 B7-H4 ADC Opportunity DELIVERABLE • LNCB74 (B7-H4) POC in 1H 2026 VALUE DRIVER • De-risked approach against a clinically validated target • Differentiated linker for improved safety and increased therapeutic index and efficacy • Breast, ovarian and endometrial cancers continue to have significant