NXTC · NextCure, Inc.

NextCure's Q1 2026 financial results showed a reduced net loss of $9.8 million compared to $11.0 million in Q1 2025, primarily due to lower research and development expenses of $6.8 million (down $1.1 million) from deprioritized programs and reduced personnel costs including non-cash stock compensation, partially offset by SIM0505 program ramp-up. General and administrative expenses declined to $3.3 million from $3.7 million, driven by lower non-cash stock compensation. Cash burn was $13.4 million in operations, offset by $1.2 million from ATM equity sales, leaving $29.7 million in cash, cash equivalents, and marketable securities as of March 31, 2026, down from $41.8 million at year-end 2025. This supports operations into the first half of 2027 through SIM0505 proof-of-concept. CEO Michael Richman highlighted SIM0505 milestones, including FDA Fast Track designation for platinum-resistant ovarian cancer (PROC), initial Phase 1 dose escalation data presentation at ASCO 2026 on June 1 covering U.S. and China patients (NCT06792552), and recent initiation of dose optimization in gynecologic cancers with PROC patients. Expansion plans include more U.S. sites in H2 2026 and activation in Canada and Europe, with further additions in 2027. LNCB74 Phase 1 dose escalation (NCT06774963) continues in high B7-H4 expression breast, gynecological cancers, and adenoid cystic carcinoma, with a progress update in H2 2026. These clinical advancements underscore NextCure's focus on CDH6 and B7-H4 ADCs amid a lean cash position.