NextCure, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Research and development | $44.9M | $41.5M | $47.9M | $54.2M | $50.2M |
| Operating expenses | $57.6M | $59.7M | $67.6M | $75.9M | $70.8M |
| Operating income | -$57.6M | -$59.7M | -$67.6M | -$75.9M | -$70.8M |
| Income tax expense | $0 | — | — | — | — |
| Net income | -$55.8M | -$55.7M | -$62.7M | -$74.7M | -$69.4M |
| Balance Sheet | |||||
| Cash and equivalents | $26.0M | $27.7M | $13.1M | $26.6M | $12.3M |
| Current assets | $43.7M | $71.8M | $112.7M | $164.0M | $227.8M |
| Total assets | $50.2M | $80.9M | $128.0M | $184.2M | $242.4M |
| Current liabilities | $10.6M | $9.6M | $6.9M | $9.1M | $6.6M |
| Total liabilities | $15.2M | $15.4M | $13.6M | $16.6M | $9.0M |
| Stockholders' equity | $34.9M | $65.5M | $114.4M | $167.5M | $233.4M |
| Cash Flow Statement | |||||
| Cash from operations | -$49.6M | -$40.8M | -$53.0M | -$53.9M | -$57.3M |
| Depreciation and amortization | $2.2M | $2.9M | $3.7M | $4.1M | $4.3M |
| Stock-based compensation | $3.0M | $6.3M | $8.2M | $9.5M | $10.3M |
| Capital expenditure | — | $474,000 | $820,000 | $2.1M | $2.4M |
| Free cash flow | — | -$41.3M | -$53.8M | -$56.0M | -$59.6M |
| Impairments | — | $1.8M | — | — | — |
Shares outstanding 3.6M · Free float 49.4%
Annual filing data through FY ended December 31, 2025; float as of July 14, 2026.