our operations, objectives and expectations for our business, operations and financial performance and condition, including the progress and results of clinical trials, development plans and upcoming milestones regarding our immunomedicines. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “aim,” “anticipate,” “assume,” “believe,” “continue,” “could,” “should,” “due,” “estimate,” “expect,” “intend,” “hope,” “may,” “objective,” “plan,” “predict,” “potential,” “positioned,” “seek,” “target,” “towards,” “forward,” “later,” “will,” “would” and other similar expressions that are predictions of or indicate future events and future trends, or the negative of these terms or similar language.
Forward-looking statements involve substantial risks and uncertainties that could cause actual results to differ materially from those projected in any forward-looking statement. Such risks and uncertainties include, among others: positive results in preclinical studies may not be predictive of the results of clinical trials; NextCure’s limited operating history and not having any products approved for commercial sale; NextCure’s history of significant losses; NextCure’s need and ability to obtain additional financing on acceptable terms or at all; risks related to clinical development, marketing approval and commercialization; the unproven approach to the discovery and development of product candidates based on NextCure’s FIND-IO platform; and NextCure’s dependence on key personnel. More detailed information on these and additional factors that could affect NextCure’s actual results are described under the heading “Risk Factors” in NextCure’s most recent Annual Report on Form 10-K and in NextCure’s other filings with the Securities and Exchange Commission. You should not place undue reliance on any forward-looking statements. Forward-looking statements speak only as of the date of this press release, and NextCure assumes no obligation to update any forward-looking statements, even if expectations change.
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Selected Financial Information |
| | | | | | | | | | | | |
Selected Statement of Operations Items: | | Three Months Ended | | Six Months Ended |
| | June 30, | | June 30, |
(in thousands, except share and per share amounts) | | 2023 | | 2022 | | 2023 | | 2022 |
Operating expenses: | | | | | | | | | | | | |
Research and development | | $ | 13,447 | | $ | 12,825 | | $ | 25,094 | | $ | 27,849 |
General and administrative | | | 5,711 | | | 5,303 | | | 11,135 | | | 11,050 |
Loss from operations | | | (19,158) | | | (18,128) | | | (36,229) | | | (38,899) |
Other income, net | | | 1,299 | | | 208 | | | 2,274 | | | 377 |
Net loss | | $ | (17,859) | | $ | (17,920) | | $ | (33,955) | | $ | (38,522) |
Net loss per common share - basic and diluted | | $ | (0.64) | | $ | (0.65) | | $ | (1.22) | | $ | (1.39) |
Weighted-average shares outstanding - basic and diluted | | | 27,828,741 | | | 27,744,762 | | | 27,801,788 | | | 27,726,864 |
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Selected Balance Sheet Items: | | | | | | | | | | | | |
| | | | | | | | | June 30, | | | December 31, |
(in thousands) | | | | | | | | | 2023 | | | 2022 |
Cash, cash equivalents, and marketable securities | | | | | | | | $ | 130,623 | | $ | 159,911 |
Total assets | | | | | | | | $ | 153,380 | | $ | 184,161 |
Accounts payable and accrued liabilities | | | | | | | | $ | 7,820 | | $ | 9,127 |
Total stockholders’ equity | | | | | | | | $ | 138,430 | | $ | 167,530 |
