Full Press Release Details
NextCure Provides Business Update and Reports Full Year 2023 Financial Results
BELTSVILLE, Md. - March 21, 2024 - NextCure, Inc. (Nasdaq: NXTC), a clinical-stage biopharmaceutical company committed to discovering and developing novel, first-in-class and best-in-class therapies to treat cancer today provided a business update and reported full year 2023 financial results.
"Clinical data generated in 2023 enabled us to objectively assess each program and set our priorities for 2024. Based on that assessment, we will prioritize NC410 combo and LNCB74 in 2024, while seeking to partner our other portfolio assets," said Michael Richman, NextCure's president and chief executive officer. "These strategic decisions have led to restructuring our workforce reflecting our reduced need for internal GMP manufacturing operations. We believe we have sufficient inventory to support our currently planned clinical trials. I wish to thank those employees who are impacted today for their contributions and dedication to our mission."
Mr. Richman continued, "We are excited to focus on NC410 combo, which is demonstrating clinical responses in ovarian and colorectal cancers. We are advancing LNCB74 in collaboration with LegoChem Biosciences, a differentiated ADC directed to B7-H4, a clinically validated cancer target. Given our current cash position and revised runway to the second half of 2026, we believe we can advance our two programs through important near-term clinical milestones."
Business Highlights and Near-Term Milestones
Prioritized Programs
NC410 (LAIR-2 fusion)
NC410 for Ovarian Cancer
Relapsed/Refractory ICI Na ve Ovarian, 100 mg and 200 mg cohorts
| Evaluable Patients as of February 23, 2024 | n=7 |
| Overall Response rate (ORR) | 42.8%, n=3 |
| Disease Control Rate (DCR) | 42.8%, n=3 |
| Evidence supporting mechanism of action | Observed in biomarker data |
NC410 Colorectal Cancer (CRC)
MSS/MSI-L ICI Na ve CRC, LM-, 100 mg cohort
| Evaluable Patients as of February 23, 2024 | n=19 |
| Overall Response rate (ORR) | 10.5%, n=2 |
| Disease Control Rate (DCR) | 47.3%, n=9 |
| Median Progression Free Survival (mPFS) | 8.1 months |
Assets We Intend to Partner
Restructuring of Operations
Financial Results for Full Year Ended December 31, 2023
About NextCure, Inc.
NextCure is a clinical-stage biopharmaceutical company that is focused on advancing innovative medicines that treat cancer patients that do not respond, to or have disease progression on, current therapies, through the use of differentiated mechanisms of actions including antibody-drug conjugates, antibodies and proteins. We focus on advancing therapies that leverage our core strengths in understanding biological pathways and biomarkers, the interactions of cells, including in the tumor microenvironment, and the role each interaction plays in a biologic response. www.nextcure.com
Forward-Looking Statements
Some of the statements contained in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including with respect to funding for our operations, objectives and expectations for our business, operations and financial performance and condition, including the progress and results of clinical trials, development plans and upcoming milestones regarding our therapies. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "aim," "anticipate," "assume," "believe," "continue," "could," "should," "due," "estimate," "expect," "intend," "hope," "may," "objective," "plan," "predict," "potential," "positioned," "seek," "target," "towards," "forward," "later," "will," "would" and other similar expressions that are predictions of or indicate future events and future trends, or the negative of these terms or similar language.
Forward-looking statements involve substantial risks and uncertainties that could cause actual results to differ materially from those projected in any forward-looking statement. Such risks and uncertainties include, among others: positive results in preclinical studies may not be predictive of the results of clinical trials; NextCure's limited operating history and not having any products approved for commercial sale; NextCure's history of significant losses; NextCure's need and ability to obtain additional financing on acceptable terms or at all; risks related to clinical development, marketing approval and commercialization; and NextCure's dependence on key personnel. More detailed information on these and additional factors that could affect NextCure's actual results are described
under the heading "Risk Factors" in NextCure's most recent Annual Report on Form 10-K and in NextCure's other filings with the Securities and Exchange Commission. You should not place undue reliance on any forward-looking statements. Forward-looking statements speak only as of the date of this press release, and NextCure assumes no obligation to update any forward-looking statements, even if expectations change.
Timothy Mayer, Ph.D.
Chief Operating Officer