NextCure (NXTC)
Developing antibody-drug conjugate candidates for difficult-to-treat cancers.
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Develops early-stage antibody-drug conjugates for cancer patients whose disease has progressed on existing therapies, with SIM0505 and LNCB74 as lead programs. With no marketed products or product-sale revenue, its economics depend on research financing, partnered rights, clinical progress, and a pending merger that could replace the operating business.
Develops antibody-drug conjugate candidates for cancer patients whose disease has progressed on existing therapies. Its active lead programs are SIM0505, a CDH6-targeting candidate being studied in platinum-resistant ovarian cancer, and LNCB74, a B7-H4 candidate for cancers with high B7-H4 expression. Neither is an approved or marketed product, and the company reports no product-sale revenue.
Operates through licensed and co-developed technologies: SIM0505 rights exclude Greater China, while LNCB74 is jointly developed with LigaChem. The business is financed through equity capital and depends on clinical development, regulatory approval, external manufacturing, and partners for parts of the legacy pipeline. A pending all-stock merger with Avere Therapeutics would replace its name, ticker, leadership, and principal program after closing.
Company facts
Target rangeAs of Sep 2, 2026
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Target |
|---|---|---|---|---|---|
| Jul 15, 2026 | H.C. Wainwright | Reiterate | Buy | $20 | |
| Nov 7, 2025 | Ladenburg Thalmann | Upgrade | Neutral | Buy |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $20.1M · Total debt $4.3M · Total assets $22.6M · Shareholders' equity $12.1M
- Revenue
- $0
- Operating income
- −$15.1M
- Net income
- −$14.9M
No dividends on record.
| Institutions26 holders · as of Mar 31, 2026 | 60.06% | 2.17M shares | |
| Strategic holders2 holders · as of Aug 14, 2026 | 28.54% | 1.03M shares | |
| Otherremainder | 11.40% | 411.6K shares |
3.61M company shares as of Aug 21, 2026 · institutions as of Mar 31, 2026 · holders as of their latest filing
Two share counts disagree (4.58M in the company's Sep 3, 2026 report, 3.61M elsewhere); stakes use the report.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Evidence |
|---|---|---|---|
ADAR1 Capital Management, LLC1Strategic10 percent owner | 20.00% | 722,419 | 13Gfiled Aug 14, 2026 ↗ |
Simcere Zaiming, Inc.Strategicother: Former 10% Owner | 8.54% | 308,636 | Form 4filed Aug 12, 2026 ↗ |
Adage Capital Management, L.P.Institution | 7.67% | 277,202 | 13Gfiled Aug 12, 2026 ↗ |
Squadron Master Fund LPInstitution | 7.51% | 271,127 | 13Gfiled Feb 17, 2026 ↗ |
Squadron Capital Management LLCInstitution | 7.34% | 265,000 | 13Fas of Mar 31, 2026 |
| See all 25 → | |||
- ADAR1 Capital Management, LLC's own ownership statement (13G, Aug 14, 2026) reports fewer shares than the transaction reports; the statement is used.
13F — a manager's quarterly holdings · 13D/13G — an ownership statement filed at 5% or more · Form 4 — an insider's transaction report
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 10, 2026 | Simcere Zaiming, Inc. | other: Former 10% Owner | −30,000 | $6.16 |
| Jul 30, 2026 | ADAR1 Capital Management, LLC | 10 percent owner | +272,850 | $4.93 |
| Jul 31, 2026 | ADAR1 Capital Management, LLC | 10 percent owner | +36,303 | $4.94 |
| Jul 27, 2026 | ADAR1 Capital Management, LLC | 10 percent owner | +7,798 | $5.00 |
| Jul 28, 2026 | ADAR1 Capital Management, LLC | 10 percent owner | +6,400 | $4.95 |
- AstraZeneca (ADR)
Advanced B7-H4 ADC program overlaps in gynecologic solid tumors.
- Merck
Co-develops the advanced CDH6 ADC R-DXd for resistant ovarian cancer.
- BeOne Medicines (ADR)
B7-H4 Top1 ADC targets overlapping gynecologic solid-tumor patients.
- GSK (ADR)
Licensed B7-H4 ADC is in global Phase I/II development.
ComparePre-market
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| NextCure | $7.35 | −0.68% | $26.5M | — | — | — | — |
| AstraZeneca (ADR) | $163.48 | +1.13% | $250.67B | 24.3 | 15.2 | 4.1 | +6.4% |
| Merck | $151.72 | +0.05% | $374.52B | 121.3 | 17.6 | 5.6 | +5.1% |
| BeOne Medicines (ADR) | $361.00 | −0.21% | $38.66B | 5.0 | 46.1 | 6.7 | +29.6% |
| GSK (ADR) | $50.48 | +0.11% | $101.06B | 15.8 | 9.1 | 2.2 | +2.7% |
| Median | 20.0 | 16.4 | 4.9 | +5.7% |