NextCure (NXTC) investor relations material

Executive summary

• Anticipates a transformational 2026 with key clinical milestones for SIM0505 and LNCB74, including Phase 1 data readouts and trial expansions in ovarian and other cancers.

• Rapid progress since acquiring SIM0505 in June 2025, with plans to double U.S. trial sites and expand internationally.

Financial highlights

• Cash, cash equivalents, and marketable securities totaled $41.8 million as of December 31, 2025, down from $68.6 million at year-end 2024, mainly due to $49.6 million in operational cash use.

• Net loss for 2025 was $55.8 million, nearly flat compared to $55.7 million in 2024.

• Research and development expenses rose to $44.9 million in 2025 from $41.5 million in 2024, driven by $18.5 million in license fees and milestone payments for SIM0505.

• General and administrative expenses decreased to $12.7 million from $15.7 million year-over-year, primarily due to lower personnel costs.

• $22.3 million was raised from equity sales, including a $21.5 million private placement in November 2025.

Outlook and guidance

• Current financial resources expected to fund operations and capital expenditures into the first half of 2027, supporting proof-of-concept for SIM0505.

• SIM0505 Phase 1 dose escalation data and initiation of dose optimization in ovarian cancer anticipated in Q2 2026.

• LNCB74 Phase 1 trial update planned for the second half of 2026.