Nuvectis Pharma, Inc. ( (NVCT) ) has released its Q4 earnings. Here is a breakdown of the information Nuvectis Pharma, Inc. presented to its investors.
Nuvectis Pharma, Inc. is a clinical-stage biopharmaceutical company dedicated to developing innovative precision medicines for oncology, focusing on conditions with unmet medical needs. The company is advancing two clinical-stage drug candidates, NXP800 and NXP900, targeting various cancer types.
In its latest earnings report, Nuvectis Pharma highlighted significant progress in its drug development programs for the year 2024. The company successfully completed a follow-on offering, extending its cash runway into 2027, and received Orphan Drug Designation from the U.S. FDA for NXP800, which is being tested in a Phase 1b study for ARID1a-mutated ovarian cancer.
Key financial metrics for 2024 showed a net loss of $19.0 million, an improvement from the previous year’s $22.3 million loss. Research and development expenses decreased to $12.9 million, while general and administrative expenses were reduced to $6.9 million. The company also reported an increase in interest income to $0.8 million.
Looking ahead, Nuvectis Pharma is preparing to initiate the Phase 1b program for NXP900 in mid-2025, aiming to explore its potential in treating YES1/SRC-driven solid tumors and non-small cell lung cancer. With strengthened financial resources and ongoing clinical advancements, the company is poised for meaningful progress in 2025 and beyond.