NextCure Provides Business Update and Reports Third Quarter 2025 Financial Results

Core Insights - NextCure, Inc. is advancing its antibody-drug conjugate (ADC) programs, particularly SIM0505 and LNCB74, with significant progress in clinical trials and FDA approvals [2][3][4]. Business Highlights and Near-Term Milestones - The company has initiated U.S. enrollment in the Phase 1 trial for SIM0505, a CDH6-targeting ADC, at a mid-tier dose range where multiple clinical responses were previously observed in China [2][3]. - FDA clearance was received for a protocol amendment for LNCB74, allowing for higher dose escalation cohorts [2][4]. - Proof of concept data readouts for both SIM0505 and LNCB74 are expected in the first half of 2026 [2][4]. Financial Results for Quarter Ended September 30, 2025 - Cash, cash equivalents, and marketable securities decreased to $29.1 million from $68.6 million as of December 31, 2024, primarily due to operational funding and a $12.0 million upfront license fee to Simcere Zaiming [5][10]. - Research and development expenses were $6.1 million, down from $8.8 million in the same quarter of 2024, attributed to lower costs from deprioritized programs and reduced personnel-related costs [5][10]. - General and administrative expenses decreased to $2.8 million from $3.7 million year-over-year, mainly due to lower personnel costs [5][10]. - The net loss for the quarter was $8.6 million, an improvement from a net loss of $11.5 million in the same quarter of 2024 [5][10]. Selected Financial Information - Total assets as of September 30, 2025, were $39.6 million, down from $80.9 million as of December 31, 2024 [11]. - Total stockholders' equity decreased to $23.6 million from $65.5 million [11].