Nuvectis Raises Cash to $31.6M, Reports $26.4M Net Loss and Phase 1b Progress
Nuvectis closed 2025 with $31.6m cash, up $13.1m, and a $26.4m net loss including $6m stock-based comp and $2.4m milestone fees. R&D expenses rose to $18.2m and G&A to $9.4m, while Phase 1b monotherapy and osimertinib combination studies of NXP900 are enrolling and an ALK-NSCLC lorlatinib combo is pending.
1. Full Year 2025 Financial Results
Nuvectis ended 2025 with $31.6m in cash and cash equivalents, compared to $18.5m at the end of 2024, driven by a February 2025 public offering and access to an at-the-market facility. The company reported a $26.4m net loss for the year, including $6.0m in non-cash stock-based compensation and $2.4m in one-time license fees; R&D spending rose to $18.2m from $12.9m and G&A to $9.4m from $6.9m.
2. Clinical Development Update
Enrollment has commenced in the Phase 1b monotherapy study of NXP900 across multiple molecularly defined tumors and in the combination study with osimertinib in EGFR-mutated NSCLC. A combination trial with lorlatinib in ALK-positive NSCLC is pending commencement, positioning Nuvectis for multiple potential data readouts in 2026.
3. Cash Runway and Outlook
Management expects the current cash position to fund operations and advance NXP900 clinical milestones well into the second half of 2027, supporting continued R&D investment and operational execution.