Recent Updates — NXTC

NextCure, Inc. announced that its Chief Medical Officer and named executive officer, Dr. Udayan Guha, will be terminated effective October 31, 2026, in contemplation of the pending merger with Avere Therapeutics, Inc. Dr. Guha entered into a severance agreement providing benefits consistent with termination without cause under his existing employment agreement, plus enhanced change-in-control severance contingent on the merger closing. NextCure operates as a clinical-stage biotechnology company focused on developing immunotherapies for cancer.

NextCure filed a petition in the Delaware Court of Chancery seeking judicial validation of its July 2025 reverse stock split. The company implemented a 1-for-12 split to maintain Nasdaq listing compliance, but uncertainty arose after August 2026 amendments to the Delaware General Corporation Law suggested that NextCure's charter supermajority voting standard (66 2/3% of outstanding shares) might have applied instead of the votes-cast standard used. The amendment received 89.92% support from votes cast but only 64.76% of outstanding shares, falling short of the supermajority threshold. NextCure argues it acted in good faith reliance on prior legal interpretations and seeks to validate the split to ensure the validity of its capitalization for a pending business combination with Avere Therapeutics. The court has scheduled a hearing for November 6, 2026. NextCure is a clinical-stage biopharmaceutical company focused on developing innovative cancer treatments.

NextCure announced its second quarter 2026 financial results and provided a business update regarding its proposed all-stock merger with Avere Therapeutics. The transaction, expected to close in the second half of 2026, will result in the combined entity operating as Avere Therapeutics under ticker AVRX on Nasdaq. Existing NextCure shareholders are expected to receive contingent value rights tied to legacy assets. Concurrently, Avere secured a private financing expected to generate approximately $320 million in gross proceeds. For the quarter ended June 30, 2026, NextCure reported cash and marketable securities of $20.1 million, R&D expenses of $7.4 million, and a net loss of $14.9 million. The company also announced restructuring initiatives including asset impairments totaling $5.1 million and a transition agreement with LigaChem Biosciences for the LNCB74 program. NextCure is a clinical-stage biopharmaceutical company focused on discovering and developing novel cancer therapies.

NextCure, Inc. entered into a merger agreement with Avere Therapeutics, Inc. to undergo a reorganization where Avere will become a wholly owned subsidiary of NextCure. Under the terms, Avere stockholders will own approximately 98.11% of the combined company, while NextCure stockholders will own approximately 1.89%. The transaction includes a $320 million private placement of PIPE securities. NextCure also announced a restructuring plan expected to result in a reduction in force and approximately $1.9 million in one-time charges during the third quarter of 2026. Additionally, NextCure decided to stop expanding the clinical site footprint for its SIM0505 program into Europe and Canada and opted out of continued cost-sharing for the LNCB74 program with LigaChem Biosciences. NextCure is a biotechnology company developing antibody-drug conjugates.

At its 2026 Annual Meeting of Stockholders held on June 18, 2026, NextCure, Inc. stockholders approved the amendment and restatement of the 2019 Omnibus Incentive Plan. This restated plan increases the maximum number of common stock shares authorized for issuance by 80,000 and modifies the evergreen provision to calculate annual increases based on outstanding shares on a fully diluted basis. Additionally, shareholders elected Anne Borgman and John G. Houston to the Board of Directors, ratified Ernst & Young LLP as the independent auditor for the 2026 fiscal year, and approved executive compensation on an advisory basis. NextCure, Inc. is a biotechnology company.