NextCure Provides Business Update and Reports First Quarter 2025 Financial Results

Core Insights - NextCure, Inc. is a clinical-stage biopharmaceutical company focused on developing innovative therapies for cancer treatment, particularly for patients who do not respond to existing therapies [8] Business Highlights and Near-Term Milestones - The LNCB74 antibody-drug conjugate (ADC) program has completed cohort 2 in April 2025 and is progressing through the dose escalation phase of the Phase 1 study, with plans to initiate backfill cohorts in the second half of 2025 [2][6] - A proof of concept data readout for LNCB74 is expected in the first half of 2026 [2][6] - The company has expanded its clinical trial footprint to include 10 active investigator sites, with an additional 3 sites projected to be onboard in May 2025 [2][6] Financial Results for Quarter Ended March 31, 2025 - Cash, cash equivalents, and marketable securities as of March 31, 2025, were approximately $55.9 million, down from $68.6 million as of December 31, 2024, primarily due to operational funding [6][13] - Research and development expenses decreased to $7.9 million for the three months ended March 31, 2025, compared to $11.4 million for the same period in 2024, reflecting lower costs related to non-LNCB74 programs and personnel-related costs due to restructuring [7][12] - General and administrative expenses were $3.7 million for the three months ended March 31, 2025, down from $4.4 million in the same period in 2024, attributed to lower personnel and insurance costs [7][12] - The net loss for the quarter was $11.0 million, an improvement from a net loss of $17.1 million for the same period in 2024 [7][12] Selected Financial Information - Loss from operations for the three months ended March 31, 2025, was $11.6 million, compared to $18.3 million for the same period in 2024 [12] - Total assets as of March 31, 2025, were $67.1 million, down from $80.9 million as of December 31, 2024 [13]