NextCure closes $21.5M PIPE led by Ikarian, Squadron; extends cash runway into H1 2027

NextCure, Inc.

Gross proceeds of ~$21.5M from PIPE closed Nov 14, 2025; 708,428 shares at $8.52 and 1,815,049 pre-funded warrants at $8.519.
Lead investors: Ikarian Capital, Squadron Capital Management, Affinity Healthcare Fund, Exome Asset Management; H.C. Wainwright placement agent.
Cash runway extended into H1 2027, beyond planned H1 2026 POC data readouts for SIM0505 (CDH6 ADC) and LNCB74 (B7-H4 ADC).
Registration rights agreement entered to file resale registration statement with SEC for the sold securities.
Management believes existing cash, equivalents, and marketable securities sufficient to fund operations into first half of 2027.

item 1.01 item 3.02 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.9

NextCure, Inc. issued up to an aggregate of 1,815,049 shares of Common Stock of warrant to certain institutional and accredited investors for $8.519 per Pre-Funded Warrant.

Security: warrant
Shares: up to an aggregate of 1,815,049 shares of Common Stock
Purchaser: certain institutional and accredited investors
Consideration: $8.519 per Pre-Funded Warrant

Exact text from the filing

(ii) pre-funded warrants (the “Pre-Funded Warrants”) to purchase up to an aggregate of 1,815,049 shares of Common Stock (the “Pre-Funded Warrant Shares”) at a purchase price of $8.519 per Pre-Funded Warrant

View on SEC.gov

Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.9

NextCure, Inc. issued 708,428 shares of common stock to certain institutional and accredited investors for $8.52 per share.

Security: common stock
Shares: 708,428 shares
Purchaser: certain institutional and accredited investors
Consideration: $8.52 per share

Exact text from the filing

On November 12, 2025, NextCure, Inc. (“NextCure” or the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with certain institutional and accredited investors (each, a “Purchaser” and collectively, the “Purchasers”) for a private placement (the “Offering”) of an aggregate of (i) 708,428 shares (the “Shares”) of the Company’s common stock, par value $0.001 per share (the “Common Stock”), at a purchase price of $8.52 per share

View on SEC.gov

Browse all equity issuances →

NextCure, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-25-112975

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.