Nuvectis Pharma(US:NVCT)2025-05-06 12:36Financial Performance - The net loss for the first quarter of 2025 was $5.3 million, compared to a net loss of $4.2 million for the same period in 2024, representing an increase of $1.1 million [4]. - The basic and diluted net loss per common share outstanding was $0.27 for the first quarter of 2025, compared to $0.25 for the same period in 2024 [15]. Cash and Assets - Cash and cash equivalents increased to $29.9 million as of March 31, 2025, from $18.5 million as of December 31, 2024, reflecting a $11.4 million increase due to a public offering [3]. - The total assets as of March 31, 2025, were $30.1 million, compared to $18.6 million as of December 31, 2024 [13]. - The total liabilities as of March 31, 2025, were $9.2 million, unchanged from December 31, 2024 [13]. - The company completed a financing round of $15.5 million, extending its cash runway into the first quarter of 2027 [5]. Expenses - Research and development expenses rose to $3.7 million for the first quarter of 2025, up from $2.7 million in the same quarter of 2024, an increase of approximately 37% [6]. - General and administrative expenses were $1.9 million for the first quarter of 2025, compared to $1.7 million for the same period in 2024, an increase of about 11.8% [6]. Clinical Development - NXP900 demonstrated a robust pharmacodynamic response and acceptable safety profile in the Phase 1a dose escalation study, with plans to enter Phase 1b for specific genetic alterations [2]. - The company is advancing two clinical-stage drug candidates, NXP800 and NXP900, targeting serious conditions in oncology [8].