NextCure (NasdaqGS:NXTC) FY Conference Transcript

Summary of NextCure FY Conference Call Company Overview - Company: NextCure (NasdaqGS:NXTC) - Focus: Development of antibody-drug conjugates (ADCs) including SIM0505 and LNCB74 targeting specific cancer markers [1][3] Key Points Partnership and Product Development - NextCure in-licensed SIM0505 in June 2025, gaining ex-China rights from Simcere Zaiming [4] - The partnership aims to leverage Simcere's established clinical development in China and NextCure's capabilities in the U.S. [5] - SIM0505 is in phase one clinical trials, with a focus on gynecological oncology [4][5] Clinical Trials and Safety - The collaboration allows for a multinational study, with patient enrollment ongoing in both China and the U.S. [5] - The program has shown strong safety profiles with no dose-limiting toxicities (DLTs) reported [6][8] - Initial clinical responses are being observed, with plans to move into the expansion phase next year [6] Data Expectations - Phase one dose escalation data for SIM0505 is expected to be disclosed in the first half of 2026, involving approximately 35-40 patients, primarily with ovarian cancer [9] - The focus will initially remain on ovarian and endometrial cancers, with potential for expansion into other tumor types later [10] LNCB74 Development - LNCB74 targets B7-H4, which is overexpressed in various tumors, particularly in gynecological cancers [11] - The ADC utilizes a unique linker system developed in partnership with LigaChem, enhancing stability and reducing off-target toxicity [13] - Enrollment for LNCB74 is slower due to patient selection criteria, but data is also expected in the first half of 2026 [15] Future Treatment Paradigms - There is potential for combination therapies using both SIM0505 and LNCB74, given their different mechanisms of action [11][16] - The future of ADCs may involve personalized treatment based on tumor profiling, allowing for tailored therapy selection [16][17] Financial Position - NextCure ended Q3 2025 with approximately $21 million in cash, supplemented by a $21.5 million private investment in public equity (PIPE) [22] - The current cash position is expected to fund operations into the first half of 2027, covering key deliverables and data milestones [22] Other Pipeline Developments - NextCure is exploring partnerships for non-oncology assets, including programs for osteogenesis imperfecta and Alzheimer's disease [19][20] - The company aims to retain ownership in ADC developments while seeking collaborations for other therapeutic areas [21] Additional Insights - The ADC market is becoming increasingly competitive, particularly in the ovarian cancer space, necessitating strategic adjustments in enrollment and site expansion [15] - The potential for ADCs to address resistance mechanisms in tumors is highlighted, suggesting a need for innovative treatment strategies [17][18]