Nuvalent reports Q1 net loss $17.5M; cash $272.7M; ALK trial expected Q2 2022

Nuvalent, Inc.

2022-Q1 EPS reported -$0.36

Net loss of $17.5M ($0.36 diluted EPS); R&D expenses $12.7M, G&A $5.0M.
Cash, cash equivalents and marketable securities of $272.7M; expected to fund operations into 2024.
IND for NVL-655 (ALK) cleared; ALKOVE-1 Phase 1/2 trial anticipated to begin Q2 2022.
On track to select two additional development candidates in 2022 (ALK resistance mutations and HER2 exon 20).
Appointed Anna Protopapas as Chair of Board of Directors in March 2022.

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