Nuvalent Q3 net loss $33.6M; cash runway into 2027 after $300M offering; ALK/ROS1 data positive

Nuvalent, Inc.

2023-Q3 EPS reported -$1.55

Net loss of $33.6M ($0.59 per share) for Q3 2023; R&D expenses $29.6M, G&A $9.2M.
Cash, equivalents and marketable securities $413.3M at Sept 30; plus $282M net from Oct 2023 offering, runway to 2027.
Reported preliminary Phase 1 data for NVL-655 (ALK+) showing activity in heavily pre-treated patients with favorable safety.
Initiated Phase 2 registrational cohorts for NVL-520 (ROS1+) at 100 mg daily; data update expected in 2024.
Appointed Perrin Wilson, Ph.D., as SVP of Business Development & Strategy; advancing NVL-330 toward IND.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Nuvalent, Inc. reported financial results for quarter ended September 30, 2023.

Period: quarter ended September 30, 2023
Result: reported results

Exact text from the filing

On November 14, 2023, Nuvalent, Inc. announced its financial results for the quarter ended September 30, 2023, and other corporate updates.

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Nuvalent, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-063338

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