Nuvectis Pharma, Inc. - NVCT STOCK NEWS

Nuvectis Pharma announced promising preclinical results for NXP800, targeting ARID1a-mutated gastric carcinoma. Following successful outcomes in ovarian carcinoma models, the company is optimistic about expanding NXP800's development to gastric cancer, which affects 20-25% of the 26,000 annual U.S. diagnoses. The current prognosis for gastric cancer is poor, with a 5-year survival rate of just 32%. Nuvectis is on track with the Phase 1a study and anticipates beginning Phase 1b in Q1 2023.

Nuvectis Pharma, a biopharmaceutical company focused on developing precision medicines for oncology, announced that CEO Ron Bentsur will present at three investment conferences in September 2022. The first event is the HC Wainwright 24th Annual Global Investment Conference on September 13 at 10:30 a.m. ET in New York, followed by the Cantor Oncology Conference on September 28 at 9:00 a.m. ET, and the Ladenburg Thalmann Healthcare Conference on September 29 at 2:00 p.m. ET. Webcasts of the presentations will be available for 90 days.

Nuvectis Pharma (NASDAQ: NVCT) reported progress in its NXP800 Phase 1 clinical program, with the Phase 1b expansion expected to start in Q1 2023. The FDA cleared the IND for NXP800, allowing U.S. and U.K. sites to enroll patients. The company also detailed advancements in NXP900, with IND-enabling studies projected for completion by year-end 2022. A recent private placement raised $15.9 million, extending the cash runway into H2 2024. For Q2 2022, Nuvectis reported a net loss of $3.6 million, a decrease from $5.9 million in Q2 2021, while R&D expenses fell to $2.5 million.

Nuvectis Pharma (Nasdaq: NVCT) announced the closing of a private placement of 1,924,689 shares of common stock, generating approximately $15.9 million in gross proceeds. The company also issued preferred investment options for additional shares exercisable at $9.65 after six months, valid for three and a half years. The net proceeds will be used for working capital and corporate purposes. The securities are not registered under the Securities Act and a registration rights agreement is in place for resale registration.

Nuvectis Pharma, Inc. (Nasdaq: NVCT) announced definitive agreements for selling 1,924,689 shares of common stock at $8.25 per share, expected to generate approximately $15.9 million. Investors also acquired preferred options to purchase more shares at an exercise price of $9.65. The private placement is set to close around July 29, 2022, pending customary conditions, with proceeds aimed at working capital and corporate needs. H.C. Wainwright & Co. is the exclusive placement agent for this transaction.

Nuvectis Pharma announced FDA clearance for its Investigational New Drug Application for NXP800, a new approach for treating ARID1a-mutated ovarian clear cell carcinoma. The Phase 1 trial, comprising dose escalation and expansion stages, will now include U.S. sites, expanding its reach beyond the U.K. The company anticipates initiating the Phase 1b in early 2023, aiming to address significant unmet medical needs. NXP800 could become a first-in-class treatment targeting the HSF1 pathway, which is crucial in cancer progression.

Nuvectis Pharma announced positive results for NXP900 in treating Group 4 Medulloblastoma, presented at SIOPE Brain Tumour Group. The study, conducted on a mouse model, showed that NXP900 significantly inhibited tumor growth and improved survival rates. With 40% of Medulloblastoma cases classified as Group 4, and considering the poor prognosis for these patients, Nuvectis emphasizes the therapeutic potential of NXP900 as a promising treatment option. The company is committed to advancing NXP900 to address this unmet medical need in pediatric oncology.

Nuvectis Pharma, a company specializing in innovative oncology treatments, announced that Ron Bentsur, its CEO, will present an overview at the H.C. Wainwright Global Investment Conference.

The event is scheduled for May 24, 2022, at 4:00 PM Eastern Time. A live webcast will be available for approximately 30 days.

Nuvectis's pipeline includes NXP800, a clinical-stage HSF1-pathway inhibitor, and NXP900, a SRC/YES1 kinase inhibitor currently in preclinical testing.

Nuvectis Pharma, Inc (NASDAQ: NVCT) reported its financial results for Q1 2022, highlighting advancements in their oncology pipeline. The company is currently conducting a dose escalation Phase 1 trial for NXP800, a Heat Shock Factor 1 pathway inhibitor, and progressing IND-enabling studies for NXP900, a SRC/YES1 kinase inhibitor. In February 2022, Nuvectis completed its IPO, raising $16 million in gross proceeds. As of March 31, 2022, cash reserves stood at $16.7 million, significantly up from $5.7 million at the end of 2021, despite a net loss of $2.9 million for the quarter.