Nuvectis Pharma(US:NVCT)2024-08-06 12:51Financial Performance - Cash and cash equivalents decreased to $18.1 million as of June 30, 2024, down from $19.5 million as of March 31, 2024, a decrease of $1.4 million[3] - The net loss for Q2 2024 was $4.4 million, a decrease of $1.4 million compared to a net loss of $5.8 million in Q2 2023[3] - Research and development expenses were $2.9 million for Q2 2024, down from $4.3 million in Q2 2023, representing a decrease of approximately 32.6%[3] - General and administrative expenses increased to $1.7 million in Q2 2024 from $1.5 million in Q2 2023, an increase of approximately 13.3%[4] - Interest income rose to $0.2 million in Q2 2024, compared to $0.1 million in Q2 2023, an increase of 100%[4] Clinical Trials and Developments - The Phase 1b clinical trial for NXP800 is ongoing with patient enrollment at approximately 15 clinical sites in the U.S. and U.K.[2] - The company plans to provide updates on the NXP800 and NXP900 trials by the end of 2024 and during the fall of 2024, respectively[2] - NXP800 has received Fast Track Designation from the FDA for the treatment of platinum-resistant, ARID1a-mutated ovarian carcinoma[5] Liabilities and Equity - Total current liabilities were $5.77 million as of June 30, 2024, down from $6.98 million as of March 31, 2024[7] - Total stockholders' equity increased to $12.53 million as of June 30, 2024, compared to $12.20 million as of December 31, 2023[9]