On Monday, Piper Sandler maintained its Overweight rating on NextCure Inc . (NASDAQ: NASDAQ:NXTC) stock, with a steady price target of $3.00. The biopharmaceutical company has been in the spotlight following its recent presentation of Phase Ib clinical data.
The data revealed that the combination of NC410 and Keytruda resulted in a disease control rate (DCR) of 51.3% among 37 patients with MSS/MSI-low colorectal cancer (CRC) and showed an objective response rate (ORR) of 42.8% with 3 partial responses (PRs) in 7 checkpoint-naive ovarian cancer patients.
NextCure's ongoing research and development efforts are set to continue delivering updates, with more NC410 data and a general program update anticipated by the end of 2024.
Additionally, the company has showcased preclinical data on its B7-H4 antibody-drug conjugate (ADC), LNCB74, demonstrating promising safety profiles and anti-tumor activity in rodent and non-human primate (NHP) models.
In collaboration with LigaChem, NextCure plans to file an Investigational New Drug (IND) application for LNCB74 by the end of 2024.
The company is actively looking for partnerships for several of its other programs. These include NC525, which targets LAIR-1 for the treatment of acute myeloid leukemia (AML); NC605, aimed at Siglec-15 for bone diseases; and NC181, which focuses on ApoE4 for Alzheimer's disease.
As of the first quarter of 2024, NextCure reported having a cash reserve of $96 million, which is expected to fund its operations well into the second half of 2026.
InvestingPro Insights
The latest insights from InvestingPro reveal a nuanced picture of NextCure Inc.'s financial health and market performance. With a market cap of $43.08 million, the company holds a Price/Book ratio of 0.43 as of the last twelve months leading into Q1 2024, indicating that the stock may be undervalued relative to its assets. Despite a challenging profitability outlook, as analysts do not expect the company to be profitable this year, NextCure's cash position appears robust. According to InvestingPro Tips, NextCure maintains a stronger cash position than debt on its balance sheet and has liquid assets that exceed its short-term obligations.
Investor sentiment has seen fluctuations, with a large price uptick of 28.33% over the last six months, yet a year-to-date price total return of 35.09% as of mid-2024, reflecting a recent surge in confidence. However, it's important to note the company's quick cash burn rate, which could be a concern for long-term sustainability. For more in-depth analysis and additional tips on NextCure Inc., including 3 analysts who have revised their earnings upwards for the upcoming period, consider exploring the full list of 10 InvestingPro Tips. Don't forget to use the exclusive coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing even more valuable insights for informed investment decisions.
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