Nuvectis Pharma (NVCT) Q3 2026 earnings summary

Executive summary

• Ex-China rights to NXP100 (ciprocopan) and NXP200 were licensed from Haisco; ciprocopan received its first global approval in China for treatment-naive PNH in July 2026.

• NXP200 received China Breakthrough Therapy Designation for recurrent or progressive high-grade BRAF V600-mutant glioma; expanded Phase 1b data were presented at ESMO in October.

Financial highlights

• Q3 2026 net loss was $30.1M vs. $7.5M YoY; adjusted net loss was $5.8M excluding the $20.0M upfront license payment, $1.8M NXP900 milestone and $2.4M non-cash stock compensation.

• Q3 R&D expense was $27.4M vs. $5.8M YoY, primarily reflecting license and milestone payments; G&A was $3.7M vs. $2.0M.

• 9M 2026 net loss was $43.1M vs. $19.1M; R&D expense was $36.2M vs. $13.1M and G&A was $8.3M vs. $6.9M.

• Cash and cash equivalents were $140.7M at September 30, 2026, vs. $31.6M at December 31, 2025; estimated runway extends into 2H 2029.

Outlook and guidance

• FDA update on whether China PNH clinical data can support a U.S. marketing application is expected before year-end; the U.S. regulatory path remains under discussion.

• U.S. IND submissions for NXP100 and NXP200 are targeted by year-end; NXP100 trials are targeted to start as soon as possible in 2027, with NXP200 Phase 1b planned for early 2027.

• China approval for NXP100 in previously anti-C5-treated PNH patients is expected in Q1 2027; China Phase 3 IgA nephropathy results are expected around April or May.

• NXP900 combination-trial updates are expected in H1 2027; an investigator-sponsored pancreatic cancer combination trial is planned at two U.S. medical centers.

• Additional NXP200 China solid-tumor data are expected in early 2027.