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NextCure Provides Business Update and Reports Third Quarter 2026 Financial Results

NXTC
  • NextCure, Inc. announced its Form S-4 registration statement for the proposed merger with Avere Therapeutics was declared effective by the SEC on November 6, 2026.
  • A special meeting of stockholders to vote on the merger is scheduled for December 9, 2026, at 9:00 a.m. Eastern Time.
  • Financing commitments for the merger increased to approximately $820 million, comprising a $320 million concurrent private placement & an additional $500 million private placement.
  • Approximately $266 million of the $820 million financing will be satisfied through the contribution & cancellation of Avere's outstanding convertible notes.
  • The combined company is expected to operate as Avere & trade on the Nasdaq Global Select Market under the ticker symbol "AVRX."
  • Existing NextCure stockholders are expected to retain a minority ownership interest & receive contingent value rights tied to legacy NextCure assets.
  • LigaChem Biosciences, Inc. assumed full responsibility for the LNCB74 program on October 6, 2026, after NextCure transferred the investigational new drug application & regulatory duties.
  • NextCure completed significant restructuring initiatives in the third quarter, including workforce reductions, facility lease terminations, & the disposition of all laboratory & manufacturing assets.
  • Cash, cash equivalents, & marketable securities decreased to $8.7 million as of September 30, 2026, from $41.8 million as of December 31, 2025.
  • Research & development expenses for the quarter ended September 30, 2026, were $4.5 million, down from $6.1 million in the same period in 2025.
  • General & administrative expenses rose to $4.4 million for the quarter, primarily due to $1.8 million in higher legal & professional fees related to the merger.
  • The company reported a net loss of $6.8 million for the three months ended September 30, 2026, compared to a net loss of $8.6 million in the prior year period.
  • The Delaware Court of Chancery entered a final order on November 2, 2026, validating NextCure's July 2025 reverse stock split amendment.
  • NextCure is continuing to evaluate strategic alternatives to monetize its legacy asset portfolio, including the SIM0505 program.
Company
NextCure
Keywords
Nasdaq:NXTC, NextCure