Nuvectis Q1 2024 net loss $4.2M; cash $19.5M; NXP800 Phase 1b data encouraging

Nuvectis Pharma, Inc.

2024-Q1 EPS reported -$0.25

Net loss $4.2M in Q1 2024 vs $4.0M in Q1 2023; cash $19.5M (up from $19.1M in Dec 2023).
NXP800 Phase 1b in platinum-resistant ARID1a-mutated ovarian cancer shows encouraging preliminary data; FDA Fast Track granted.
NXP900 preclinical data at AACR: robust activity in NSCLC cell lines; synergy with alectinib and osimertinib.
R&D expense $2.7M (+$0.3M YoY); G&A $1.7M flat; interest income $0.2M (vs $0.1M).
Several clinical data updates expected in 2H 2024; cash runway estimated into 2H 2025.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Nuvectis Pharma, Inc. reported first quarter ended March 31, 2024 results: net income $4.2 million.

Period: first quarter ended March 31, 2024
Net income: $4.2 million
Result: reported results

Exact text from the filing

First Quarter 2024 Financial Results Cash, and cash equivalents were $19.5 million as of March 31, 2024, compared to $19.1 million as of December 31, 2023. The increase of $0.4 million in the cash balance in the first quarter of 2024 is a result of the utilization of the at-the-market facility, partially offset by the operating expenses for the quarter. The Company's net loss was $4.2 million for the three months ended March 31, 2024, compared to $4.0 million for the three months ended March 31, 2023, an increase in net loss of $0.2 million.

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Source: SEC EDGAR

accession 0001104659-24-057782

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