NextCure, Inc.
NXTC evidence brief
What we can confirm
- BioSniper Score:
- 7.7 / 10
- Market Cap:
- $32.0M
- Lead Asset:
- lncb74 (Phase 1)
What it means
What to watch
Prepared research question
What matters most for NXTC—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · NXTC
NextCure is a clinical-stage biopharmaceutical company developing cancer therapies, including ADCs, and is merging with Avere Therapeutics to advance an oral IL-23 therapy.
Key risk: Going concern risk
BioSniper Score
Based on 3 of 6 signals
Limited data coverage
Tracking 4 pipeline candidates · 5 clinical trials for NextCure, Inc..
NextCure is a clinical-stage biopharmaceutical company developing cancer therapies, including ADCs, and is merging with Avere Therapeutics to advance an oral IL-23 therapy.
- NextCure is a clinical-stage biopharmaceutical company focused on discovering and developing innovative medicines for cancer patients, including Antibody-Drug Conjugates (ADCs), antibodies, and proteins [sec · filed 2026-04-24].
- As of March 31, 2026, NextCure 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].
- NextCure and Avere Therapeutics announced a merger to advance AVR-001, a once-weekly oral IL-23 receptor antagonist, with a concurrent $320 million private investment [news · published 2026-07-14].
- The company's lead ADC programs include SIM0505 (targeting CDH6) and LNCB74 (targeting B7-H4), with proof-of-concept data for LNCB74 delayed to the second half of 2026 [sec_mda · as of 2026-05-07].
- NextCure expects to need additional capital to extend its runway beyond the first half of 2027 and may implement cost-cutting measures if sufficient funds are not raised [sec_mda · as of 2026-05-07].
What works
- NextCure has a differentiated pipeline with two ADC programs (SIM0505 targeting CDH6 and LNCB74 targeting B7-H4) that leverage unique mechanisms and biomarkers [sec_mda · as of 2026-05-07].
- The merger with Avere Therapeutics brings a $320 million private investment, providing capital to advance AVR-001 through Phase 2b readout and Phase 3 initiation [news · published 2026-07-14].
- NextCure's financial runway is expected to fund AVR-001 through key milestones, including Phase 2b readout in psoriasis and initiation of Phase 3 [news · published 2026-07-14].
What to weigh
- NextCure has an accumulated deficit of $445.8 million as of March 31, 2026, and does not expect to generate product revenue unless and until it obtains marketing approval [sec_mda · as of 2026-05-07].
- The company faces substantial doubt about its ability to continue as a going concern for one year without additional funding, and may need to implement cost-cutting measures [sec_mda · as of 2026-05-07].
- Proof-of-concept data for LNCB74 has been delayed from the first half of 2026 to the second half of 2026, indicating potential development setbacks [sec_mda · as of 2026-05-07].
- NextCure is seeking partners or third-party financing for its clinical programs NC410 and NC525, as well as preclinical programs, highlighting reliance on external support [sec_mda · as of 2026-05-07].
From the filings
Quoted directly from source documents.
NextCure's cash position as of March 31, 2026
“As of March 31, 2026, we had cash, cash equivalents and marketable securities of $29.7 million.”
SEC MD&A · May 7, 2026
NextCure's accumulated deficit 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
Risks & what to watch (4)›
Key risks
- Going concern risk — Substantial doubt about ability to continue as a going concern for one year without additional funding [sec_mda · as of 2026-05-07]
- No product revenue — No product revenue expected unless and until marketing approval is obtained [sec_mda · as of 2026-05-07]
- Clinical trial delays — Proof-of-concept data for LNCB74 delayed from first half to second half of 2026 [sec_mda · as of 2026-05-07]
- Dependence on partnerships — Seeking partners or financing for NC410, NC525, and preclinical programs [sec_mda · as of 2026-05-07]
What to watch
- Proof-of-concept data readout for LNCB74, expected in the second half of 2026 [sec_mda · as of 2026-05-07]
- Merger completion with Avere Therapeutics and the use of the $320 million investment to advance AVR-001 [news · published 2026-07-14]
- NextCure's ability to raise additional capital to extend its runway beyond the first half of 2027 [sec_mda · as of 2026-05-07]
- Progress updates on SIM0505 and LNCB74 clinical trials, including dose escalation and expansion [sec_mda · as of 2026-05-07]
Sources: Catalysts · News · SEC filings · SEC MD&A · Generated October 12, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 3 of 6 signals · derived from public data
Cash runway data unavailable
Financial health data unavailable
Lead: Phase 1/Phase 2
4 candidates
No upcoming catalysts tracked
13 buys · 1 sell (180d)
Pipeline
Regulatory
Financials
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 is a clinical-stage biopharmaceutical company developing cancer therapies, including ADCs, and is merging with Avere Therapeutics to advance an oral IL-23 therapy.
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 Baltimore, 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.