Nuvectis Pharma, Inc. - NVCT STOCK NEWS

Nuvectis Pharma (NASDAQ: NVCT) announced its Q3 2022 financial results and progress in drug development. The Phase 1a trial for NXP800 is ongoing, with Phase 1b set to start in Q1 2023. Positive preclinical data for NXP800 was reported, highlighting its potential for treating ARID1a-mutated gastric cancer. NXP900 is advancing towards IND submission expected in Q1 2023, with new insights on its activity profile. Cash reserves grew to $23.6 million, but net losses increased to $5.9 million from $4.7 million year-on-year, primarily due to R&D costs.

Nuvectis Pharma, based in Fort Lee, NJ, announced upcoming presentations at the 34th EORTC-NCI-AACR Symposium from October 26-28, 2022. The two posters will address key developments in their drug candidates, NXP800 and NXP900. NXP800 focuses on HSF1 pathway inhibition, with a predictive biomarker identified for therapeutic responsiveness. NXP900 shows a significantly higher sensitivity in cancer cell lines compared to dasatinib, suggesting potential advantages for certain patient subgroups. Nuvectis remains committed to addressing unmet medical needs in oncology.

Nuvectis Pharma, a biopharmaceutical firm focused on innovative oncology treatments, announced management participation at the Roth Inaugural Healthcare Opportunities Conference.

The event is scheduled for October 6, 2022, at 8:15 a.m. ET in New York.

Nuvectis is advancing its pipeline, which includes NXP800 and NXP900, aimed at treating unmet medical needs.

Nuvectis Pharma announced the formation of a Scientific Advisory Board (SAB) on September 28, 2022, to enhance its research and development strategy. The SAB comprises prominent experts in oncology, including Prof. Shannon N. Westin, Prof. Gordon B. Mills, and Prof. Paul Workman. Chairman and CEO Ron Bentsur emphasized the importance of this collaboration in advancing the company's innovative precision medicine initiatives, particularly for treating serious unmet medical needs in oncology.

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.