NextCure Shares Business Update and Q2 2024 Financial Results

NextCure, Inc., a clinical-stage biopharmaceutical company specializing in developing innovative cancer therapies, has released its second-quarter 2024 financial results and provided a business update. The company is making significant strides in its clinical programs and remains financially stable, with cash reserves anticipated to support operations into the second half of 2026.

For the combination therapy NC410 with pembrolizumab, NextCure has completed the enrollment of an additional 16 ovarian cancer patients in the Phase 1b portion of its Phase 1b/2 trial. This study evaluates NC410 in combination with pembrolizumab for colorectal cancer (CRC) and ovarian cancer patients. Data from the Phase 1b part of the trial was shared at the American Society of Clinical Oncology (ASCO) Annual Meeting in June 2024. The company aims to present findings from the expanded ovarian cancer cohort and update the CRC data in the fourth quarter of 2024.

NextCure has also made significant advancements with its LNCB74 program, an antibody-drug conjugate (ADC) targeting B7-H4. The company completed Good Laboratory Practice (GLP) toxicology studies in July and presented a poster highlighting the strong safety and pharmacokinetic profiles of LNCB74 at the American Association for Cancer Research (AACR) Annual Meeting in 2024. They plan to submit an Investigational New Drug (IND) application by the end of the year.

In addition to these clinical programs, NextCure is working on NC181, a first-in-class approach to treating Alzheimer's disease. The company presented data on NC181 at the H.C. Wainwright 5th Annual Neuro Perspectives Virtual Conference and has initiated the manufacturing of materials for upcoming toxicology studies. NextCure is seeking partners or funding sources with the goal of filing an IND by mid-2025.

Another promising program is NC605, targeting Siglec-15 for the treatment of osteogenesis imperfecta. Following a pre-IND meeting with the FDA, NextCure is conducting ongoing toxicology studies. The company is also exploring partnerships or other funding opportunities to support an IND filing in the second half of 2025.

Financially, NextCure reported cash, cash equivalents, and marketable securities totaling $86.4 million as of June 30, 2024, down from $108.3 million on December 31, 2023. This decrease of $21.9 million was primarily due to operational expenses. Despite this reduction, the company expects its financial resources to cover operating expenses and capital expenditures into the second half of 2026.

Research and development expenses for the three months ended June 30, 2024, were $12.4 million, compared to $13.4 million for the same period in 2023. This decrease was mainly due to lower costs in other programs and preclinical development, as well as reduced personnel-related expenses. General and administrative expenses also decreased, amounting to $4.1 million for the three months ended June 30, 2024, compared to $5.7 million for the corresponding period in 2023. The drop was primarily due to lower payroll, stock compensation expenses, professional fees, and insurance costs.

NextCure reported a net loss of $15.4 million for the three months ended June 30, 2024, compared to a net loss of $17.9 million for the same period in 2023. 

NextCure, Inc. remains focused on developing novel therapies for cancer patients who do not respond to current treatments. By leveraging its expertise in understanding biological pathways, cell interactions, and the tumor microenvironment, the company aims to advance its therapies through clinical development and achieve significant milestones in the near future.

How to obtain the latest research advancements in the field of biopharmaceuticals?

In the Synapse database, you can keep abreast of the latest research and development advances in drugs, targets, indications, organizations, etc., anywhere and anytime, on a daily or weekly basis. Click on the image below to embark on a brand new journey of drug discovery!