Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 001-38905 NextCure, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of ...

Exhibit 99.1 NextCure Provides Business Update and Reports First Quarter 2025 Financial Results BELTSVILLE, Md. – May 1, 2025 – NextCure, Inc. (Nasdaq: NXTC), a clinical-stage biopharmaceutical company committed to discovering and developing novel, first-in-class, and best-in-class therapies to treat cancer, today provided a business update and reported first quarter 2025 financial results. "With our LNCB74 antibody-drug conjugate ("ADC") program completing cohort 2 in April 2025, we are progressing as plan ...

Dosing cohort 3 of the Phase 1 trial of LNCB74 (B7-H4 ADC) in multiple cancers and plan to initiate backfill cohorts in the second half of 2025Plan to provide a proof of concept data readout in the first half of 2026Cash of approximately $55.9 million expected to fund operations into the second half of 2026 BELTSVILLE, Md., May 01, 2025 (GLOBE NEWSWIRE) -- NextCure, Inc. (Nasdaq: NXTC), a clinical-stage biopharmaceutical company committed to discovering and developing novel, first-in-class, and best-in-clas ...

Core Insights - NextCure, Inc. is a clinical-stage biopharmaceutical company focused on developing innovative therapies for cancer patients who do not respond to existing treatments [3] - The company will present at the 24th Annual Needham Virtual Healthcare Conference on April 10, 2025, at 8:45 am ET [1] Company Overview - NextCure specializes in creating first-in-class and best-in-class therapies using differentiated mechanisms of action, including antibody-drug conjugates [3] - The company aims to advance treatments by leveraging its expertise in biological pathways, biomarkers, and cell interactions within the tumor microenvironment [3] Event Details - A live audio webcast of the conference presentation will be available on the company's website, with a replay accessible for 30 days post-event [2]

Financial Position - The company reported significant losses and has never generated revenue from product sales, indicating a challenging financial position [23] - The company anticipates requiring substantial additional financing to pursue its business objectives, which may not be available on acceptable terms [23] - The company has a history of significant losses and has never generated revenue from product sales, indicating a need for substantial additional financing to pursue business objectives [23] - The company has limited operating history and may never achieve or maintain profitability, which poses a risk to investors [23] Regulatory Risks - The regulatory approval processes for product candidates are lengthy and inherently unpredictable, posing risks to commercialization [23] - The company is studying product candidates in combination with other therapies, exposing it to additional regulatory risks [23] - Clinical development involves a lengthy and expensive process with uncertain outcomes, and the company has limited experience in designing and implementing clinical trials [23] Compliance and Listing Standards - The company is currently not in compliance with the continued listing standards of the Nasdaq Global Select Market, risking delisting [30] - The company is currently not in compliance with the continued listing standards of the Nasdaq Global Select Market, which could lead to delisting if compliance is not regained [30] Competitive Position - The company has filed patent applications but has obtained only a small number of patents, which may affect its competitive position [30] - The company faces significant competition from other biotechnology and pharmaceutical companies, which may impact its market position [30] - The company has filed patent applications for its product candidates but has obtained only a small number of patents to date, which may affect its ability to compete [30] Operational Challenges - The company relies on third-party suppliers for key materials, and any disruption could harm its business operations [25] - The company relies on third-party suppliers for key materials in its manufacturing process, and any loss of these suppliers could harm its business [25] - The company may encounter difficulties in enrolling patients for clinical trials due to external factors, affecting its development timelines [23] - The company may face difficulties in enrolling patients in clinical trials due to external factors such as pandemics [23] - The company is dependent on its ability to advance product candidates through preclinical studies and clinical trials, which is uncertain [23]

Financial Performance - Full year 2024 net loss was $55.7 million, a decrease from a net loss of $62.7 million in 2023, representing a reduction of approximately 11%[10] - Loss from operations for 2024 was $59.7 million, compared to $67.6 million in 2023, indicating an improvement of approximately 11%[13] - General and administrative expenses decreased to $15.7 million in 2024 from $19.7 million in 2023, a reduction of about 20%[10] - Research and development expenses for 2024 were $41.5 million, down from $47.9 million in 2023, reflecting a decrease of about 13%[10] Cash and Assets - Cash, cash equivalents, and marketable securities as of December 31, 2024, were $68.6 million, down from $108.3 million as of December 31, 2023, a decrease of approximately 36.7%[10] - Total assets as of December 31, 2024, were $80.9 million, down from $128.0 million as of December 31, 2023[15] Clinical Development - The company completed cohort 1 of the Phase 1 trial of LNCB74 (B7-H4 ADC) in February 2025 and plans to initiate backfill cohorts in the second half of 2025[6] - The U.S. FDA accepted an Investigational New Drug (IND) application for LNCB74 in December 2024, with the first patient dosed in January 2025[7] Future Plans - The company aims to secure financial support for preclinical programs NC181 and NC605, potentially leading to IND filings within 12 to 18 months[10] - The company expects current financial resources to fund operations into the second half of 2026[6]

Core Insights - NextCure, Inc. is a clinical-stage biopharmaceutical company focused on developing innovative therapies for cancer treatment, reporting a business update and full-year financial results for 2024 [1][6]. Business Highlights and Near-Term Milestones - The company has reprioritized resources to advance its antibody-drug conjugate (ADC) program, specifically LNCB74, and completed cohort 1 of the Phase 1 study for multiple cancers [2][3]. - Plans to initiate backfill cohorts for LNCB74 in the second half of 2025 [2][8]. - Preclinical data for LNCB74 was presented at the Society of Immunotherapy of Cancer annual meeting in November 2024, showcasing its potential for multiple solid tumor indications [8]. Financial Results for Full Year Ended December 31, 2024 - Cash, cash equivalents, and marketable securities decreased to approximately $68.6 million from $108.3 million in 2023, primarily due to operational funding [7][13]. - Research and development expenses were $41.5 million, down from $47.9 million in 2023, while general and administrative expenses decreased to $15.7 million from $19.7 million [8][11]. - The net loss for 2024 was $55.7 million, an improvement from a net loss of $62.7 million in 2023, with a net loss per share of $1.99 compared to $2.25 in the previous year [11][12].

Core Insights - NextCure, Inc. has initiated the first patient dosing in its Phase 1 study of LNCB74, a B7-H4-targeting antibody-drug conjugate aimed at treating multiple cancers [1][2] - The company views this milestone as significant for advancing its B7-H4 ADC program and aims to establish the safety, tolerability, and preliminary anti-tumor activity of LNCB74 [2] - The U.S. Food and Drug Administration (FDA) cleared the Investigational New Drug application for LNCB74 in December 2024, facilitating the commencement of this clinical trial [2] Company Overview - NextCure is a clinical-stage biopharmaceutical company focused on developing innovative cancer therapies for patients who do not respond to existing treatments [3] - The company employs differentiated mechanisms of action, including antibody-drug conjugates, antibodies, and proteins, to advance its therapeutic offerings [3] - NextCure collaborates with LigaChem Biosciences, Inc. for the development of LNCB74 under a co-development agreement [3]

Core Insights - NextCure, Inc. is a clinical-stage biopharmaceutical company focused on developing innovative therapies for cancer patients who do not respond to existing treatments or experience disease progression [3] Company Participation - NextCure will participate in a fireside chat at the 36th Annual Piper Sandler Healthcare Conference in New York City on December 5 at 12:00 pm ET [1] Webcast Information - A live audio webcast of the event will be available on the company's website, with a replay accessible for 30 days post-event [2] Company Overview - NextCure specializes in advancing therapies using differentiated mechanisms, including antibody-drug conjugates, antibodies, and proteins, targeting biological pathways and biomarkers relevant to cancer treatment [3]

Core Insights - NextCure, Inc. presented preclinical data showing that NC605, an anti-Siglec-15 antibody, enhances bone quality and mechanical properties in a model of Osteogenesis Imperfecta (OI) [1][4] Group 1: Company Overview - NextCure is a clinical-stage biopharmaceutical company focused on developing innovative therapies for cancer patients who do not respond to existing treatments [5] - The company utilizes differentiated mechanisms of action, including antibody-drug conjugates and proteins, to advance its therapeutic candidates [5] Group 2: Osteogenesis Imperfecta (OI) Insights - OI is characterized by high bone turnover, abnormal bone formation, and increased fragility, with no current cure available [2] - Existing treatments primarily inhibit bone loss but result in poor bone quality, whereas NC605 enhances osteoblast recruitment and improves bone quality [2] Group 3: Preclinical Data Findings - In a study with OI mice, 90% of treated male and 80% of treated female mice had no fractures, compared to 85% and 55% in control groups, respectively [3] - Treated mice exhibited increased trabecular and cortical tissue mineral density, leading to enhanced overall bone quality [3] - Specifically, treated male mice showed increased trabecular bone volume fraction and cortical thickness, resulting in improved mechanical strength measures [3][4]