Strong 12-Month Phase II Efficacy for NDV-01
NDV-01 demonstrated a 12-month complete response (CR) rate of 76% in the Phase II study and an 80% 12-month CR in the BCG-unresponsive population. CR anytime was 95% in the overall population (n=38) and 94% in the BCG-unresponsive subgroup.
Favorable Safety Profile
No patients progressed to muscle-invasive disease, no radical cystectomies occurred, no grade 3 or higher treatment-related adverse events were observed, no treatment interruptions or discontinuations due to adverse events, and most treatment-related adverse events were grade 1.
Regulatory Alignment and Planned Phase III RESCUE Program
Company achieved FDA alignment on a two-pathway registrational strategy (intermediate-risk adjuvant post-TURBT and second-line BCG-unresponsive). Expect U.S. IND clearance and initiation of the Phase III RESCUE program in mid-2026; plan to run ~80 sites in North America.
Potential Large Addressable Populations
Estimated U.S. patient populations: ~70,000–75,000 intermediate-risk patients for adjuvant use post-TURBT and ~5,000 BCG-unresponsive second-line patients, supporting potential commercial opportunity if approved.
Significant Financing and Extended Runway
Closed a $160 million private financing on March 9, 2026 (net proceeds ~ $150M). Company had $93M cash at December 31, 2025 (up from ~$45M at Dec 31, 2024), and management expects these funds plus existing cash to provide runway through 2029 and through completion of the planned NDV-01 Phase III program.
Pipeline Progress: Cipranolone PoC in Prader-Willi
Cipranolone (GABA-modulating steroid antagonist) has prior proof-of-concept in Tourette syndrome; company planning to initiate a proof-of-concept Phase II study in Prader-Willi syndrome in mid-2026 and is engaged with FDA on trial design.
Leadership and Scientific Support Strengthened
Appointment of Dr. Raj S. Pruthi as Chief Medical Officer, Oncology, and establishment of a scientific advisory board with recognized urologic oncology experts to support NDV-01 development.
Planned Data Readouts and Disclosure Cadence
Updated 12-month Phase II data accepted for presentation at AUA; plan to report initial three-month response data from the Phase III BCG-unresponsive study by end of 2026 and provide additional updates at roughly three-month intervals (3-, 6-, 9-, 12-month follow-ups).