Nuvectis Pharma Announces Pricing of $13.5 Million Public Offering of Common Stock

Core Viewpoint - Nuvectis Pharma, Inc. has announced a public offering of 2,700,000 shares at $5.00 per share, aiming for gross proceeds of$13.5 million to support its oncology drug development programs [1][2]. Group 1: Offering Details - The public offering consists of 2,700,000 shares priced at $5.00 each, with expected gross proceeds of$13.5 million [1]. - An underwriter has been granted a 30-day option to purchase up to 405,000 additional shares at the public offering price [1]. - The offering is expected to close on February 6, 2025, subject to customary closing conditions [1]. Group 2: Use of Proceeds - Nuvectis intends to utilize the net proceeds for advancing development programs of drug candidates NXP800 and NXP900, hiring additional personnel, capital expenditures, and general corporate purposes [2]. Group 3: Company Overview - Nuvectis Pharma focuses on developing innovative precision medicines for serious oncology conditions with unmet medical needs [5]. - The company is currently advancing two clinical-stage drug candidates: NXP800, which is in a Phase 1b trial for platinum-resistant, ARID1a-mutated ovarian carcinoma, and NXP900, which is in a Phase 1a dose escalation study [5].