Nuvectis Cash Reaches $140.7 Million After Haisco Deal

The Tip Desk · November 11, 2026 · 3 min read

Cash and cash equivalents were $140.7 million at September 30, 2026, after a $115.0 million July follow-on offering and $39.5 million via the ATM, with the company saying the balance extends runway into the second half of 2029.

Nuvectis Pharma, Inc. (NVCT), a clinical-stage biopharmaceutical company focused on complement-related conditions and oncology, ended the third quarter of 2026 with cash and cash equivalents of $140.7 million as of September 30, 2026, compared with $31.6 million as of December 31, 2025.

The company said the cash extends its runway into the second half of 2029. In July it raised $115.0 million in gross proceeds in a follow-on offering and an additional $39.5 million through its existing ATM, of which $37.0 million went to a single healthcare-dedicated fund.

Net loss was $30.1 million for the three months ended September 30, 2026, compared with $7.5 million a year earlier. The company said the increase included a one-time $20.0 million upfront payment tied to the NXP100 and NXP200 license agreement and $1.8 million of NXP900 milestones. Net of the upfront license payment, the NXP900 milestone and non-cash stock-based compensation, it said the third-quarter net loss was $5.8 million. Basic and diluted net loss per share was $1.02, versus $0.44 a year earlier, on weighted-average shares of 29.5 million versus 22.7 million.

Research and development expenses were $27.4 million for the three months ended September 30, 2026, compared with $5.8 million a year earlier. The company said the increase was driven primarily by the $20.0 million NXP100/NXP200 upfront payment, $1.8 million of NXP900 milestones, $1.2 million higher employee compensation, $0.5 million higher clinical-trial costs and $0.1 million higher manufacturing, partly offset by $2.0 million of license fees paid in 2025. General and administrative expenses were $3.7 million, compared with $2.0 million a year earlier. Finance income was $1.0 million. Operating loss was $31.0 million.

The quarter’s defining operating turn was the in-licensing of ex-China rights to ciprocopan (NXP100) and NXP200 from Haisco Pharmaceutical Group, which the company said transformed it into a late-stage clinical development company. In July 2026 ciprocopan, a once-daily oral Complement Factor B inhibitor, received its first global approval in China for previously untreated paroxysmal nocturnal hemoglobinuria. A second China application for PNH patients previously treated with anti-C5 therapy is under review, with approval expected in the first quarter of 2027.

Communications with the U.S. FDA about using the Chinese PNH data package to support a U.S. marketing application for NXP100 were described as well underway, with an update expected before year-end. The company said it plans to submit a U.S. IND for NXP100 by year-end, including an indication beyond PNH. In the prior quarter it had said a pre-IND meeting followed by IND submission was expected in the fourth quarter of 2026.

NXP200, an oral paradox-breaker BRAF inhibitor, was granted Breakthrough Therapy Designation in China in September 2026 for BRAF V600-mutant recurrent or progressive high-grade glioma. Expanded Phase 1b data through a May 4, 2026 cutoff showed an objective response rate of 40.0% in the high-grade glioma cohort, including three complete responses, and 42.9% in the low-grade cohort, including one confirmed complete response. A U.S. IND for NXP200 is expected by year-end.

Dustin Little, M.D., joined in September 2026 as senior vice president and head of the complement program. The company said it will hold a conference call on November 4, 2026, to discuss the results.