Nuvectis Pharma prices 2.7M shares at $5.00 in underwritten public offering

Nuvectis Pharma (NVCT) announced the pricing of its previously announced underwritten public offering of 2,700,000 shares of its common stock at a price of $5.00 per share, with expected gross proceeds to Nuvectis of $13.5M. Nuvectis has also granted the underwriter a 30-day option to purchase up to 405,000 additional shares of its common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on February 6, 2025, subject to customary closing conditions. Lucid Capital Markets is acting 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.