In a recent transaction reported to the Securities and Exchange Commission, Marlio Charles Mosseri, a significant shareholder of Nuvectis Pharma, Inc. (NASDAQ:NVCT), acquired 17,000 shares of the company's common stock. According to InvestingPro data, this purchase comes as the stock trades near its 52-week low of $4.52, with analyst targets ranging from $20 to $25. The shares were purchased at a price of $4.70 each, amounting to a total of $79,900. Following this acquisition, Mosseri's direct ownership in the pharmaceutical company stands at 2,612,000 shares. This transaction was completed on December 13, 2024, and the filing was made public on December 16, 2024. Nuvectis Pharma, with a market capitalization of $91 million, is known for its work in pharmaceutical preparations and is incorporated in Delaware. The company maintains strong liquidity with a current ratio of 2.74, and InvestingPro analysis reveals several additional key metrics and insights available to subscribers.
In other recent news, Nuvectis Pharma reported positive data from a Phase 1b study of NXP800, a treatment for ARID1a-mutated ovarian cancer. The study revealed antitumor activity, with one patient showing an unconfirmed partial response and six patients achieving stable disease with tumor shrinkage. Adjustments to the dosing schedule mitigated a previously high incidence of severe thrombocytopenia, a blood condition.
The company plans to increase dose intensity in future cohorts and expects to share additional clinical data in the second quarter of 2025. NXP800 has received Fast Track and Orphan Drug Designations from the FDA for its potential to treat ARID1a-deficient ovarian, fallopian tube, and primary peritoneal cancers.
In another recent development, the FDA has granted Nuvectis' NXP800 Orphan Drug Designation, which could lead to incentives for drug development and up to seven years of marketing exclusivity upon approval. The company is also developing NXP900, a drug targeting the SRC Family of Kinases, currently in a Phase 1a dose escalation study. These are recent developments in Nuvectis' pipeline.
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