NextCure (NXTC) Piper Sandler 36th Annual Healthcare Conference summary

Pipeline and clinical updates

• IND filed for LNCB74, a B7-H4 antibody-drug conjugate, with multiple clinical updates expected this year.

• LNCB74 targets B7-H4, overexpressed in breast, ovarian, and endometrial cancers, using a novel beta-glucuronidase linker and MMAE payload.

• Phase 1 trial will enroll patients with breast, ovarian, and endometrial cancers, using dose escalation and backfill cohorts to assess safety and biomarker-driven efficacy.

• Expansion into phase 1B and phase 2 is planned for 2026, focusing on tumor types with promising activity and exploring additional indications preclinically.

• Companion diagnostic development leverages a CLIA-validated test to select patients by B7-H4 expression, aiming to optimize clinical outcomes.

Strategic partnerships and business development

• 50/50 co-development partnership with Ligaken leverages proprietary linker technology to improve safety and efficacy of ADCs.

• Ongoing discussions for partnerships on NC410 (LAIR-2 fusion protein) after promising combination data with Keytruda in colorectal and ovarian cancers.

• NC605 (anti-Siglec-15) for osteogenesis imperfecta is being considered for partnership or spin-out, with potential nonprofit funding.

• NC181 (anti-ApoE4) for Alzheimer's disease shows strong preclinical results and is also a candidate for partnering or spin-out.

• Business development is a major focus, with multiple programs positioned for external collaborations.

Financial position and forward-looking statements

• Cash balance of $75 million as of the end of the last quarter provides runway into the second half of 2026.

• Funding is sufficient to complete key milestones for LNCB74, including phase 1 and preparation for phase 2.

• Strategy includes pipeline backfill with additional ADC assets to build long-term value.

• Non-dilutive funding from partnerships or spin-outs is expected to support core programs.

• Anticipates a busy 2025 with significant clinical and business development activities.