Nuvalent, Inc., a clinical-stage biopharmaceutical company based in Cambridge, Massachusetts, announced a greater net loss for the first quarter of this year compared to the same period last year. The company recorded a loss of $44.48 million for the quarter, in contrast to the $25.19 million in losses posted last year.
On evaluating a per-share basis, the loss broadened to $0.69 per share from the previous $0.44 per share in the last year. A survey of 9 analysts conducted by Thomson Reuters had predicted that the company would report a loss of $0.68 per share. It's worth noting that these estimates usually do not take into consideration special items.
James Porter, Nuvalent's CEO, stated that the company plans to share updates from their concurrent lead programs for ROS1 and ALK-positive NSCLC at a medical seminar in the second half of the year. Moreover, they remain committed to administering the first dose of their HER2 program within the year.
