NextCure announces closing of $21.5M PIPE financing

NextCure (NXTC)announced the closing of its previously announced private placement in public equity. The PIPE was led by Ikarian Capital, Squadron Capital Management, Affinity Healthcare Fund, LP, and Exome Asset Management, with participation from other healthcare focused funds, for total gross proceeds of approximately $21.5M. NextCure sold and issued an aggregate of 708,428 shares of common stock at the market purchase price of $8.52 per share, and pre-funded warrants to purchase up to an aggregate of 1,815,049 shares of Common Stock at a purchase price of $8.519 per Pre-Funded Warrant in a private placement exempt from the registration requirements of the Securities Act of 1933, as amended. H.C. Wainwright & Co. acted as the exclusive placement agent for the offering. NextCure intends to use the net proceeds from the offering for general working capital needs, extending the company’s cash runway into the first half of 2027, which is beyond the planned first half of 2026, proof of concept data readouts of its two antibody drug conjugate programs, SIM0505 and LNCB74.