NextCure, Inc.
NXTC evidence brief
What we can confirm
What it means
What to watch
Prepared research question
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Traceable citations · Unknowns marked
BioSniper AI · NXTC
NextCure, Inc. is a clinical-stage biotechnology company focused on developing immunomedicines for cancer and other diseases, with lead programs SIM0505 and LNCB74 targeting B7-H4 expressing tumors, and a need for additional capital to extend operations beyond mid-2027.
Key risk: Going concern uncertainty
BioSniper Score
Based on 5 of 6 signals
Financial data as of Jun 30, 2026.
Tracking 4 pipeline candidates · 5 clinical trials for NextCure, Inc..
NextCure, Inc. is a clinical-stage biotechnology company focused on developing immunomedicines for cancer and other diseases, with lead programs SIM0505 and LNCB74 targeting B7-H4 expressing tumors, and a need for additional capital to extend operations beyond mid-2027.
- NextCure is a clinical-stage biotech developing immunomedicines, with lead programs SIM0505 and LNCB74 targeting B7-H4 expressing cancers [sec_mda · as of 2026-05-07].
- As of March 31, 2026, the company had cash, cash equivalents and marketable securities of $29.7 million and an accumulated deficit of $445.8 million [sec_mda · as of 2026-05-07].
- The company reported a net loss of -$14.9M and shareholders' equity of $65.5M as of June 30, 2026 [sec].
- NextCure is seeking to partner its other clinical programs NC410 and NC525 and advance preclinical non-oncology programs NC605 and NC181 [sec_mda · as of 2026-05-07].
- The company has a going concern uncertainty and will need to raise additional capital to continue advancing its clinical programs beyond the first half of 2027 [sec_mda · as of 2026-05-07].
What works
- NextCure has two clinical-stage programs (SIM0505 and LNCB74) targeting high B7-H4 expression in breast, ovarian, and endometrial cancers, with an FDA-cleared protocol amendment allowing higher dose escalation cohorts [sec_mda · as of 2025-11-05].
- The company continues to advance its pipeline by seeking partnerships for NC410 and NC525 and exploring preclinical non-oncology programs NC605 and NC181 [sec_mda · as of 2026-05-07].
- NextCure has ongoing clinical trial enrollment and plans to provide a trial progress update in the second half of 2026 [sec_mda · as of 2026-05-07].
What to weigh
- NextCure has a history of significant losses and an accumulated deficit of $445.8 million as of March 31, 2026, with no product revenue expected until potential commercialization [sec_mda · as of 2026-05-07].
- The company faces substantial doubt about its ability to continue as a going concern and needs to raise additional capital to extend its runway beyond the first half of 2027 [sec_mda · as of 2026-05-07].
- If sufficient funding is not obtained, NextCure may need to implement cost-cutting measures, including delaying or pausing clinical programs and workforce reductions [sec_mda · as of 2026-05-07].
- The company's proof-of-concept data for LNCB74 has been delayed from the first half of 2026 due to backfilling patients and investigating dose levels [sec_mda · as of 2026-05-07].
From the filings
Quoted directly from source documents.
NextCure has an accumulated deficit of $445.8 million as of March 31, 2026.
“As of March 31, 2026, we had an accumulated deficit of $445.8 million”
SEC MD&A · May 7, 2026
The company will need to raise additional capital to continue advancing clinical programs beyond the first half of 2027.
“We will need to raise additional capital in order to extend our runway and enable us to continue advancing our current clinical programs, SIM0505 and LNCB74, beyond the first half of 2027.”
SEC MD&A · May 7, 2026
Proof-of-concept data for LNCB74 has been delayed due to backfilling patients.
“high B7-H4 expression in breast and gynecological cancers, and the addition of adenoid cystic carcinoma type 1, would delay the reporting of proof-of-concept data, previously anticipated in the first half of 2026.”
SEC MD&A · May 7, 2026
NextCure is seeking to partner NC410 and NC525 and advance preclinical programs.
“we continue to seek to partner our other clinical programs NC410 and NC525 and to pursue a partner or third-party financing to advance our preclinical non-oncology programs NC605 and NC181.”
SEC MD&A · May 7, 2026
Risks & what to watch (4)›
Key risks
- Going concern uncertainty — Substantial doubt about ability to continue as a going concern for one year after financial statement issuance [sec_mda · as of 2026-05-07].
- Need for additional capital — Must raise capital to extend runway beyond first half of 2027; otherwise may pause programs or reduce workforce [sec_mda · as of 2026-05-07].
- Clinical development risks — Positive preclinical results may not predict clinical trial outcomes; unproven technology approach [sec_mda · as of 2026-05-07].
- No product revenue — No products approved for commercial sale; no revenue until potential marketing approval [sec_mda · as of 2026-05-07].
What to watch
- Trial progress update for LNCB74 expected in the second half of 2026 [sec_mda · as of 2026-05-07].
- Ability to raise additional capital to extend runway beyond first half of 2027 [sec_mda · as of 2026-05-07].
- Partnership developments for NC410, NC525, NC605, and NC181 [sec_mda · as of 2026-05-07].
- Potential cost-cutting measures if funding is not secured [sec_mda · as of 2026-05-07].
Sources: SEC MD&A · Generated August 27, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 5 of 6 signals · derived from public data
5.4 months
D/E 0.86 · 0% dilution
Lead: Phase 1/Phase 2
4 candidates
No upcoming catalysts tracked
13 buys · 1 sell (180d)
Runway
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
19
Total value held
$9.8M
| Holder | Shares | Value |
|---|---|---|
| affinity asset advisors, llc | 241,826 | $2.6M |
| silverarc capital management, llc | 176,057 | $1.9M |
| vanguard capital management llc | 160,473 | $1.7M |
| boothbay fund management, llc | 69,617 | $744K |
| renaissance technologies llc | 60,534 | $647K |
| woodline partners lp | 54,996 | $587K |
| verdad advisers, lp | 42,955 | $459K |
| geode capital management, llc | 31,092 | $327K |
| blackrock, inc. | 27,793 | $297K |
| cardiff park advisors, llc | 21,833 | $233K |
Showing top 10 of 19 institutional holders of NextCure, Inc.. Open the full 13F history after sign-in.
Short Interest
as of Apr 20, 2026- % of float
- 1.6%
- Days to cover
- 1.4
- Shares short
- 55,520
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
NXTC short interestGovernance
Frequently asked questions
What is the AI investment thesis for NextCure, Inc.?
NextCure, Inc. is a clinical-stage biotechnology company focused on developing immunomedicines for cancer and other diseases, with lead programs SIM0505 and LNCB74 targeting B7-H4 expressing tumors, and a need for additional capital to extend operations beyond mid-2027.
What is NextCure, Inc.'s lead drug candidate?
NextCure, Inc.'s most advanced tracked candidate is lncb74 (Phase 1) for Ovarian Cancer.
Who is the CEO of NextCure, Inc.?
Mr. Michael S. Richman MSBA is the chief executive officer of NextCure, Inc. (NXTC).
Where is NextCure, Inc. headquartered?
NextCure, Inc. (NXTC) is headquartered in Beltsville, MD, United States.
What therapeutic areas does NextCure, Inc. focus on?
NextCure, Inc. develops therapies across Oncology, Nephrology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.