CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.96% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open platformOpen platform

Nuvectis Pharma Q3 net loss widens on licensing and R&D costs

By Reuters News


Overview

  • US biopharma firm's Q3 net loss widened, driven by upfront licensing payments and higher R&D spend

  • Company ended Q3 with $140.7 mln in cash, extending runway into 2H 2029

  • Company completed in-licensing of two late-stage drug candidates, advancing clinical pipeline


Outlook

  • Company expects to provide an update on FDA discussions for ciprocopan in PNH before year-end

  • Nuvectis plans to submit U.S. INDs for NXP100 and NXP200 by year-end

  • Company expects cash position to fund operations into 2H 2029


Result Drivers

  • UPFRONT LICENSING COSTS - Q3 net loss included a $20 mln upfront payment for the NXP100 and NXP200 license agreement

  • HIGHER R&D EXPENSES - Research and development expenses rose, mainly due to the license payment, milestone costs, increased compensation and clinical trial expenses

  • INCREASED G&A COSTS - General and administrative expenses increased, mainly from higher professional and consulting services and employee compensation


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Loss Per Share

$1.02

Q3 Net Loss

$30.07 mln

Q3 Operating Loss

$31.05 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the biotechnology & medical research peer group is "buy"

  • Wall Street's median 12-month price target for Nuvectis Pharma Inc is $35.00, about 81% above its November 3 closing price of $19.34


Reuters Recommended Reads

  • Nov 3 - Compass Pathways Q3 net loss narrows on lower R&D charges

  • Nov 3 - Spyre Therapeutics Q3 net loss widens more than expected on higher trial costs

  • Nov 3 - Beam Therapeutics posts wider than expected Q3 net loss as revenue drops


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.