On August 5, 2025 Nuvectis Pharma, Inc. (NASDAQ: NVCT) ("Nuvectis" or the "Company"), a clinical-stage biopharmaceutical company focused on the development of innovative precision medicines for the treatment of serious conditions of unmet medical need in oncology, reported its financial results for the second quarter 2025 and provided an update on recent business progress (Press release, Nuvectis Pharma, AUG 5, 2025, View Source [SID1234654791]).

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Ron Bentsur, Chairman and Chief Executive Officer of Nuvectis, commented, "In the second quarter and subsequent weeks we have had a series of important events that we believe put the company in an excellent position for growth." Mr. Bentsur continued, "We announced the successful completions of the NXP900 Phase 1a dose escalation study in patients with advanced solid tumors and of the NXP900 drug-drug interaction study in healthy volunteers, both strongly supporting the initiation of the NXP900 Phase 1b program, expected to start imminently. As for NXP800, over the next few months, we plan to explore potential opportunities of NXP800 in cancer types such as endometrial and prostate." Mr. Bentsur added, "On the financial side, in July we strengthened our cash position following the acquisition of shares by a healthcare specialized institutional investor through our ATM facility, bringing our second quarter end proforma cash to approximately $39 million, which we expect can fund our operations into 2H 2027." Mr. Bentsur concluded, "The last few months have been very significant for Nuvectis, and we believe that we are well positioned to deliver on our ambitious plan for NXP900."

Second Quarter 2025 Financial Results

Cash and cash equivalents were $26.8 million as of June 30, 2025, compared to $18.5 million as of December 31, 2024. The increase of $8.3 million in the cash balance as of the end of the second quarter of 2025 is a result primarily of our public offering in February 2025, partially offset by the operating expenses for the first half of 2025.

The Company’s net loss was $6.3 million for the three months ended June 30, 2025, compared to $4.4 million for the three months ended June 30, 2024, an increase in net loss of $1.9 million.

The increase in net loss in the second quarter of 2025 was primarily due to the NXP900 DDI study, which has been completed. The three months ended June 30, 2025, also includes $1.8 million of non-cash stock-based compensation.

Research and development expenses, including non-cash stock-based compensation, were $3.6 million for the three months ended June 30, 2025, compared to $2.9 million for the three months ended June, 30, 2024, an increase of $0.7 million.

General and administrative expenses, including non-cash stock-based compensation, were $3.0 million for the three months ended June 30, 2025, compared to $1.7 million for the three months ended June 30 2024, an increase of $1.3 million.

Interest income was $0.2 million for the three months ended June 30, 2025, compared to $0.2 million for the three months ended June 30, 2024.