Nuvectis Pharma Reports 2024 Financial Results and Updates on Oncology Pipeline

Nuvectis Pharma, Inc. (NASDAQ: NVCT) issued a Form 8-K on February 25, 2025, to announce its financial results for the fiscal year ended December 31, 2024, along with a corporate update on its clinical programs. The filing, which includes a press release furnished as Exhibit 99.1, details the company’s ongoing work in advancing its oncology pipeline.

According to the press release, Nuvectis is progressing with two clinical-stage drug candidates. The NXP800 candidate, currently in a Phase 1b study for patients with platinum resistant, ARID1a-mutated ovarian cancer, recently received Orphan Drug Designation from the U.S. Food and Drug Administration. Updated results from this study are expected in the second quarter of 2025. Additionally, the company is planning to disclose initial data from an investigator-initiated study in cholangiocarcinoma later this year.

The update also highlighted progress in the development of NXP900. Enrollment is ongoing in the Phase 1a dose escalation trial while preparations are underway for the start of a Phase 1b program expected to commence in mid-2025. This forthcoming Phase 1b study is designed to evaluate NXP900 as a monotherapy in YES1/SRC-driven solid tumors, as well as in combination with EGFR and ALK inhibitors for the treatment of non-small cell lung cancer, potentially broadening its applicability in oncology.

In addition to clinical developments, Nuvectis announced that a follow-on offering completed in February 2025 raised $15.5 million in gross proceeds, which the company stated would extend its cash runway into 2027. Financial results for 2024 revealed a slight decrease in cash and cash equivalents to $18.5 million from $19.1 million at the end of 2023. Moreover, the net loss for the year decreased to $19.0 million from $22.3 million in the prior year, reflecting lower research and development and general and administrative expenses, even as non-cash stock-based compensation continued to be a significant component.

In his comments, Chairman, Chief Executive Officer, and President Ron Bentsur emphasized the company’s progress in its clinical programs and the strategic benefits provided by the strengthened financial position. Bentsur noted the successful execution of the follow-on offering, which has enhanced Nuvectis’ capabilities to advance both NXP800 and NXP900 through critical stages of clinical development.

Nuvectis Pharma, a clinical-stage biopharmaceutical company focused on precision oncology, continues to prioritize the development of innovative treatments for serious conditions with significant unmet needs. The company’s updated results and operational highlights offer key insights into its direction as it moves into an active period of clinical research and potential market opportunities in 2025 and beyond.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Nuvectis Pharma’s 8K filing here.

About Nuvectis Pharma

Nuvectis Pharma, Inc, a biopharmaceutical company, focuses on the development of precision medicines for the treatment of serious unmet medical needs in oncology. The company's lead product candidate is NXP800, a novel small molecule that is in Phase 1b clinical trials for the treatment of patients with platinum-resistant, ARID1a-mutated ovarian carcinoma.