In This Story
NextCure Inc. (NXTC+20.27%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's focus on advancing innovative cancer treatments, specifically through the development of its lead product candidate, LNCB74, a B7-H4 targeted antibody-drug conjugate (ADC).
LNCB74 is currently in a Phase 1 clinical trial, with the first patient dosed in January 2025. The trial is enrolling patients with various tumor types, including breast, ovarian, and endometrial cancers.
NextCure reported a net loss of $55.7 million for the year ended December 31, 2024, compared to a net loss of $62.7 million for the previous year. The decrease in net loss was attributed to lower research and development and general administrative expenses.
Research and development expenses decreased by $6.4 million to $41.5 million, primarily due to reduced costs associated with other programs and preclinical development, as well as lower internal costs.
General and administrative expenses decreased by $4.0 million to $15.7 million, driven by lower personnel-related costs and insurance expenses.
The company announced a restructuring in March 2024, which included a pause in internal manufacturing operations and a reduction in workforce, resulting in restructuring and asset impairment charges of $2.5 million.
NextCure's cash, cash equivalents, and marketable securities totaled $68.6 million as of December 31, 2024. The company expects these funds to support operations into the second half of 2026.
The company is seeking partnerships to advance its other clinical programs, NC410 and NC525, and its preclinical non-oncology programs, NC605 and NC181.
NextCure's strategic focus includes the acceleration of LNCB74 development and the pursuit of partnerships for other programs, leveraging its core strengths in understanding biological pathways and biomarkers.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the NextCure Inc. annual 10-K report dated March 6, 2025. To report an error, please email earnings@qz.com.