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NextCure NextCure Reports First Quarter 2021 Financial Results May 6 , 2021 BELTSVILLE , Md . , May 06 , 2021 ( GLOBE NEWSWIRE ) -- NextCure , Inc. ( Nasdaq : NXTC ) , a clinical - stage biopharmaceutical company committed to discovering and developing novel , first - in - class immunomedicines to treat cancer and other immune - related diseases , today reported first quarter 2021 financial results and provided a business update . " We are highly focused on advancing our three clinical programs and broadening our pipeline of novel immunomedicines this year . We are committed to continuing to evaluate NC318 in multiple indications in our Phase 2 monotherapy trial as well as the Phase 2 investigator - initiated clinical trial at Yale University that recently commenced , ” said Michael Richman , NextCure's president and chief executive officer . " The NC410 program continues to advance and we will be sharing a trial in progress poster at the upcoming American Society of Clinical Oncology Virtual Annual Meeting . With encouraging preclinical and IND - enabling data for NC762 presented at AACR , we look forward to advancing the asset into the clinic this quarter . " Business Highlights and Upcoming Milestones • Commenced the Yale University Phase 2 investigator - initiated clinical trial of NC318 in combination with pembrolizumab in patients with advanced non - small cell lung cancer with anticipated initial data in the first half of 2022 . • Presented preclinical and investigational new drug ( IND ) -enabling data for NC762 at the American Association for Cancer Research Annual Meeting 2021 . • On track to initiate the NC762 Phase 1 clinical trial in the second quarter of 2021 and report initial data in mid - 2022 . • On track to report NC318 Phase 2 monotherapy update in the fourth quarter of 2021 . • Continue enrolling patients in the Phase 1 portion of a Phase 1/2 clinical trial for NC410 and on track to report initial clinical data in the second half of 2021 . • Present trial in progress poster for NC410 at the upcoming 2021 American Society of Clinical Oncology ( ASCO ) Virtual Annual Meeting . Financial Guidance Based on its current research and development plans , NextCure expects its existing cash , cash equivalents and marketable securities will enable it to fund operating expenses and capital expenditure requirements into the second half of 2023 . Financial Results for Quarter Ended March 31 , 2021 • Cash , cash equivalents , and marketable securities , excluding restricted cash as of March 31 , 2021 , were $ 268.2 million as compared with $ 283.4 million as of December 31 , 2020. The decrease of $ 15.2 million reflects cash used to fund operations of $ 13.9 million and cash used to purchase fixed assets of $ 0.8 million . • Research and development expenses were $ 12.4 million for the quarter ended March 31 , 2021 as compared to $ 10.6 million for the quarter ended March 31 , 2020. The increase was primarily related to increase in personnel - related costs . • General and administrative expenses were $ 4.8 million for the quarter ended March 31 , 2021 , as compared to $ 3.6 million for the quarter ended March 31 , 2020. The increase was primarily related to increase in personnel - related costs . • Revenue was not recognized in the quarter ended March 31 , 2021 , as compared to $ 22.4 million for the quarter ended March 31 , 2020. Revenue generated in the first quarter of 2020 was from our former research and development agreement with Eli Lilly . • Net loss was $ 16.5 million for the quarter ended Mach 31 , 2021 , as compared with net income of $ 9.7 million for the quarter ended March 31 , 2020. The change to a loss from the previous year's quarter were primarily due to the recognition in the prior year of the remaining deferred revenue under the former agreement with Eli Lilly and increased personnel- related costs in both research and development expenses and general and administrative expenses . About NC318 NC318 is a first - in - class immunomedicine against S15 , a novel immunomodulatory target found on highly immunosuppressive cells called M2 macrophages in the tumor microenvironment and on certain tumor types including lung , ovarian and head and neck cancers . In preclinical research , it