Nuvectis Pharma Announces Closing of $15.5 Million Public Offering of Common Stock and Full Exercise of Underwriter's Over-Allotment Option

Core Viewpoint - Nuvectis Pharma, Inc. has successfully closed a public offering of 2,700,000 shares, raising approximately $15.5 million to support its oncology drug development programs [1][2]. Group 1: Offering Details - The public offering included an additional 405,000 shares purchased by the underwriter, Lucid Capital Markets, at a price of$5.00 per share [1][2]. - The gross proceeds from the offering are approximately $15.5 million, before underwriting discounts and commissions [1]. Group 2: Use of Proceeds - Nuvectis plans to utilize the net proceeds for advancing the development of its 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].