Nuvectis Pharma(US:NVCT)2025-02-25 14:26Financial Performance - Nuvectis reported a net loss of $19.0 million for the year ended December 31, 2024, a decrease of $3.3 million compared to a net loss of $22.3 million in 2023[6]. - The basic and diluted net loss per common share was $1.11 for 2024, compared to $1.43 for 2023[15]. - The total stockholders' equity decreased to $9.7 million as of December 31, 2024, from $12.2 million in 2023[13]. Expenses - Research and development expenses were $12.9 million for 2024, down from $15.4 million in 2023, reflecting a decrease of $2.5 million[6]. - General and administrative expenses decreased to $6.9 million in 2024 from $7.5 million in 2023, a reduction of $0.6 million[7]. - Interest income increased to $0.8 million in 2024, compared to $0.6 million in 2023, marking an increase of $0.2 million[7]. Cash Position - Cash and cash equivalents as of December 31, 2024, were $18.5 million, a slight decrease from $19.1 million as of December 31, 2023[5]. - The company completed a follow-on offering in February 2025, raising $15.5 million in gross proceeds, extending its cash runway into 2027[4]. Clinical Trials - NXP800 is currently in a Phase 1b clinical trial for ARID1a-deficient ovarian cancer, with updated results expected in Q2 2025[4]. - Enrollment for the NXP900 Phase 1a dose escalation study is ongoing, with plans to start the Phase 1b program in mid-2025[4].