Financial Performance - The company reported a net loss of $4,153,000 for the three months ended September 30, 2024, compared to a net loss of $5,881,000 for the same period in 2023, indicating an improvement of about 29.3%[19]. - The basic and diluted net loss per common share outstanding for the three months ended September 30, 2024, was $0.24, an improvement from $0.37 for the same period in 2023[19]. - The net loss for the nine months ended September 30, 2024, was $12.8 million, compared to a net loss of $15.6 million for the same period in 2023[24]. - The operating loss for the nine months ended September 30, 2024, was $13,398 thousand, an improvement from an operating loss of $16,031 thousand for the same period in 2023[19]. - The basic net loss attributable to common stockholders for the three months ended September 30, 2024, was $4.2 million, resulting in a basic net loss per share of $0.24[60]. Assets and Liabilities - As of September 30, 2024, total assets amounted to $17,307,000, a decrease from $19,185,000 as of December 31, 2023, representing a decline of approximately 9.8%[18]. - The total liabilities as of September 30, 2024, were $6,316,000, a slight decrease from $6,984,000 as of December 31, 2023, showing a reduction of about 9.6%[18]. - The total stockholders' equity as of September 30, 2024, was $10,991,000, down from $12,201,000 as of December 31, 2023, representing a decrease of approximately 9.9%[18]. - Cash and cash equivalents as of September 30, 2024, totaled $17.2 million[92]. - The accumulated deficit of the company reached $67.0 million as of September 30, 2024, reflecting ongoing net operating losses since inception[27]. Research and Development - Research and development expenses for the three months ended September 30, 2024, were $2,819,000, down from $4,486,000 in the same period of 2023, reflecting a decrease of approximately 37.1%[19]. - The company anticipates a substantial increase in research and development expenses due to ongoing and planned clinical development activities[79]. - Total research and development expenses for the nine months ended September 30, 2024, were $8.4 million, down $2.7 million from $11.1 million in the same period in 2023[87]. - The company has licensed exclusive worldwide development and commercial rights to NXP800 and NXP900, focusing on innovative treatments for oncology[68][73]. - NXP800 has received Fast Track Designation from the FDA for the treatment of platinum-resistant ARID1a-mutated ovarian carcinoma, and Orphan Drug Designation for cholangiocarcinoma[71][72]. Capital and Financing - For the nine months ended September 30, 2024, the company sold 965,911 common shares under its At-the-Market Program, generating approximately $8.1 million in gross proceeds[29]. - The company has approximately $26.6 million of securities remaining available for sale under the At-the-Market Program as of September 30, 2024[49]. - The company expects to require additional capital for regulatory approval and commercialization of product candidates[99]. - The company will need to raise additional capital to complete clinical trials for its product candidates, with no assurance of securing sufficient financing[31]. - The company has sold 1,337,654 shares under the at-the-market offering program, receiving $12.9 million in net proceeds as of September 30, 2024[96]. Employment and Workforce - The company currently has 13 full-time employees and plans to grow its workforce to support future operations[15]. - Employee compensation and benefits increased by $0.6 million to $4.4 million for the nine months ended September 30, 2024, compared to $3.8 million in the same period in 2023[87]. General and Administrative Expenses - General and administrative expenses for the three months ended September 30, 2024, were $1.540 million, compared to $1.672 million for the same period in 2023, a decrease of about 7.9%[82]. - General and administrative expenses for the nine months ended September 30, 2024, increased by $0.1 million to $5.0 million compared to $4.9 million in the same period in 2023[90]. Clinical Trials and Product Development - The Phase 1 clinical trial for NXP900 commenced in September 2023, with ongoing assessments of safety and pharmacokinetics[76]. - The FDA cleared the IND for NXP900 in May 2023, with the Phase 1 clinical trial initiated in September 2023[76]. - The company announced a collaboration with Mayo Clinic to conduct an investigator-sponsored clinical trial for NXP800 in patients with cholangiocarcinoma[72]. - NXP900 demonstrated significant inhibition of tumor growth in various cancer models, with on-target pharmacodynamic effects observed[75].

Financial Performance - Nuvectis Pharma reported a net loss of $4.2 million for Q3 2024, a decrease from $5.9 million in Q3 2023, representing a 29.6% improvement year-over-year[4]. - The basic and diluted net loss per common share outstanding was $0.24 for Q3 2024, compared to $0.37 for Q3 2023[11]. Cash and Investments - Cash, cash equivalents, and short-term investments decreased to $17.2 million as of September 30, 2024, down from $19.1 million as of December 31, 2023, a decline of approximately 10.0%[3]. - Nuvectis expects its current cash position to support important milestones for clinical programs and provide working capital well into 2026[2]. Expenses - Research and development expenses were $2.8 million for Q3 2024, down from $4.5 million in Q3 2023, indicating a reduction of 37.2%[5]. - General and administrative expenses decreased to $1.5 million in Q3 2024 from $1.7 million in Q3 2023, a decline of 12.0%[5]. Clinical Development - The company has completed 4 cohorts in the NXP900 Phase 1a dose escalation study with no dose limiting toxicities reported[2]. - NXP800 has received Orphan Drug Designation from the FDA for treating ARID1a-deficient ovarian, fallopian tube, and primary peritoneal cancers[2]. - The company anticipates a clinical data update from the NXP800 Phase 1b study in platinum-resistant, ARID1a-mutated ovarian cancer within the month[2]. Stockholders' Equity - The total stockholders' equity decreased to $10.99 million as of September 30, 2024, from $12.20 million as of December 31, 2023[10].

Clinical data update from the NXP800 Phase 1b study expected this month; NXP800 granted Orphan Drug Designation for the treatment of ARID1a-deficient ovarian, fallopian tube, and primary peritoneal cancersNXP900 Phase 1a dose escalation study progressing as planned, 4 escalation cohorts completed with no DLTs, dose escalation continues FORT LEE, N.J., Nov. 05, 2024 (GLOBE NEWSWIRE) -- Nuvectis Pharma, Inc. (NASDAQ: NVCT) ("Nuvectis" or the "Company"), a clinical-stage biopharmaceutical company focused on t ...

Financial Performance - For the three months ended June 30, 2024, the operating loss was $4,643,000, compared to an operating loss of $5,772,000 for the same period in 2023, representing a 19.6% improvement[13]. - The net loss for the three months ended June 30, 2024, was $4,428,000, compared to a net loss of $5,708,000 for the same period in 2023, indicating a 22.4% reduction in losses[13]. - The company reported a net loss of $8.6 million for the six months ended June 30, 2024, compared to a net loss of $9.8 million for the same period in 2023, representing a 12% improvement[21]. - The net loss for the six months ended June 30, 2024, was $8,599,000, a 12% improvement from a net loss of $9,757,000 for the same period in 2023[21]. - The basic net loss attributable to common stockholders for the three months ended June 30, 2024, was $4.4 million, resulting in a basic net loss per share of $0.26[48]. - Basic net loss per common share for the three months ended June 30, 2024, was $0.26, a decrease from $0.38 in the same period of 2023, indicating a 31.6% reduction in loss per share[48]. - The basic net loss per share for the six months ended June 30, 2024, was $0.51, down from $0.65 in the same period of 2023, showing a 21.5% improvement[48]. - The company recognized a total net loss of $8.599 million for the six months ended June 30, 2024, compared to $9.757 million for the same period in 2023, reflecting a 11.9% reduction[48]. Expenses and Liabilities - Research and development expenses for the six months ended June 30, 2024, were $5,603,000, down from $6,629,000 in the same period of 2023, a decrease of 15.4%[13]. - For the three months ended June 30, 2024, the company recognized $0.5 million in general and administrative expenses and $0.7 million in research and development expenses[46]. - Research and development expenses for the three months ended June 30, 2024, were $2,943,000, a decrease of 31% compared to $4,262,000 for the same period in 2023[13]. - Total current liabilities were $5,770,000, a decrease from $6,984,000 as of December 31, 2023, reflecting a 17.4% reduction[13]. - The total stockholders' equity as of June 30, 2024, was $12,528,000, a decrease from $20,332,000 as of June 30, 2023, indicating a decline of 38%[19]. Capital and Funding - The company will require substantial additional capital to finance its operations and achieve its goals[6]. - The company will need to raise additional capital to complete clinical trials for its product candidates, with no assurance of securing sufficient financing[25]. - The company raised approximately $6.6 million through the sale of 749,338 common shares under its At-the-Market Program during the six months ended June 30, 2024, at an average selling price of $8.78 per share[24]. - The company sold 246,691 common shares under its At-the-Market Program for gross proceeds of approximately $1.7 million during the three months ended June 30, 2024[23]. - As of June 30, 2024, approximately $28.1 million of securities remain available under the At-the-Market Program[40]. - The company has not generated any revenue to date and expects to incur continued losses for the foreseeable future[6]. Workforce and Operations - The company currently has 13 full-time employees and plans to grow its workforce to support its operations[9]. - The company has incurred net operating losses since its inception, highlighting the need for strategic financial planning[23]. - The company has a limited operating history and has only initiated a limited number of clinical trials, which may affect investor evaluation of its business[5]. - The company is dependent on the success of its product candidates, NXP800 and NXP900, for future revenue generation[7]. - The company is dependent on the success of its product candidates, NXP800 and NXP900, which are currently in clinical trials[7]. Stock Options and Awards - As of June 30, 2024, the company had 348,281 stock options outstanding with a weighted average exercise price of $4.59 and an intrinsic value of $606,000[41]. - The company granted 580,527 restricted stock awards (RSAs) during the six months ended June 30, 2024, with a weighted average grant fair value of $8.09[42]. - Total unrecognized compensation cost related to RSAs as of June 30, 2024, was $4.5 million, expected to be recognized over a weighted average period of 1.34 years[43]. - The total share compensation expense for the three months ended June 30, 2024, was $1.2 million, up from $1.0 million in the same period of 2023, marking a 20% increase[46]. - The company excluded 1,588,313 unvested RSAs from the diluted net loss per common share calculation for June 2024, compared to 1,093,613 for June 2023, indicating a significant increase in potentially dilutive securities[50]. Cash Flow and Financial Position - Cash and cash equivalents decreased to $18.1 million as of June 30, 2024, down from $24.6 million at the end of the same period in 2023[21]. - The company has not generated positive cash flows from operations and relies primarily on the issuance and sale of common stock to fund operations[23]. - Management believes that existing cash and cash equivalents will fund planned operations for at least 12 months following the issuance date of the financial statements[24]. - The company experienced a net cash used in operating activities of $7,378,000 for the six months ended June 30, 2024, compared to $8,860,000 for the same period in 2023, showing a 17% reduction[21].

Exhibit 99.1 Nuvectis Pharma, Inc. Reports Second Quarter 2024 Financial Results and Business Highlights August 6, 2024, Fort Lee, NJ - Nuvectis Pharma, Inc. (NASDAQ: NVCT) ("Nuvectis" or the "Company"), a clinical-stage biopharmaceutical company focused on the development of innovative precision medicines for the treatment of serious conditions of unmet medical need in oncology, today reported its financial results for the second quarter 2024 and provided an update on recent business progress. Ron Bentsur, ...

FORT LEE, N.J., Aug. 06, 2024 (GLOBE NEWSWIRE) -- Nuvectis Pharma, Inc. (NASDAQ: NVCT) ("Nuvectis" or the "Company"), a clinical-stage biopharmaceutical company focused on the development of innovative precision medicines for the treatment of serious conditions of unmet medical need in oncology, today reported its financial results for the second quarter 2024 and provided an update on recent business progress. Ron Bentsur, Chairman and Chief Executive Officer of Nuvectis, commented, "During the second quart ...

Nuvectis Pharma, Inc. (NVCT) closed the last trading session at $6.68, gaining 2.6% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $22 indicates a 229.3% upside potential. The mean estimate comprises three short-term price targets with a standard deviation of $2.65. While the lowest estimate of $20 indicates a 199.4% increase from the current price level, the most optimistic analy ...

Fort Lee, NJ, May 16, 2024 (GLOBE NEWSWIRE) -- Nuvectis Pharma, Inc. (NASDAQ:NVCT) ("Nuvectis" or the "Company"), a clinical-stage biopharmaceutical company focused on the development of innovative precision medicines for the treatment of serious conditions of unmet medical need in oncology, today announced that Ron Bentsur, Chairman and Chief Executive Officer, will present at the H.C. Wainwright 2nd BioConnect Investor Conference at the NASDAQ world headquarters in New York City. Event H.C. Wainwright 2nd ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from to . Commission File Number 001-41264 NUVECTIS PHARMA, INC. (Exact name of registrant as specified in its charter) Delaware 86-2405608 (State or Other ...

Exhibit 99.1 Nuvectis Pharma, Inc. Reports First Quarter 2024 Financial Results and Business Highlights May 7, 2024, Fort Lee, NJ - Nuvectis Pharma, Inc. (NASDAQ: NVCT) ("Nuvectis" or the "Company"), a clinical-stage biopharmaceutical company focused on the development of innovative precision medicines for the treatment of serious conditions of unmet medical need in oncology, today reported its financial results for the first quarter 2024 and provided an update on recent business progress. Ron Bentsur, Chai ...