NextCure, Inc. filed its quarterly report on Form 10-Q with the SEC on November 10, 2026, covering the three and nine months ended September 30, 2026, disclosing continued net losses, restructuring activity, and changes in stockholders' equity.

Key Highlights

  • Net loss of $6,846 thousand for the three months ended September 30, 2026, compared to $8,624 thousand in the same period of 2025, according to the filing.
  • Nine-month net loss of $31,534 thousand for the period ended September 30, 2026, versus $46,408 thousand for the same period in 2025.
  • Restructuring and asset impairment charges, net totaled $3,033 thousand for the nine months ended September 30, 2026, with a net credit of $(2,044) thousand recorded in Q3 2026 alone.
  • Cash and cash equivalents of $8,728 thousand as of September 30, 2026, down from $25,982 thousand at December 31, 2025.
  • Pre-funded warrants exercised for 456,855 shares in Q2 2026 and an additional 508,408 shares in Q3 2026, as reported in the condensed statements of stockholders' equity.
  • Total stockholders' equity fell to $5,503 thousand at September 30, 2026, from $34,943 thousand at December 31, 2025.
  • 4,577,359 shares of common stock were issued and outstanding as of September 30, 2026, up from 3,505,621 at December 31, 2025.

NextCure's Financial Position and Operating Activity Through September 2026

According to the filing, NextCure, Inc. (NASDAQ:NXTC), a clinical-stage biopharmaceutical company headquartered in Baltimore, Maryland, reported a net loss of $6,846 thousand for the three months ended September 30, 2026, with research and development expenses of $4,535 thousand and general and administrative expenses of $4,428 thousand in that quarter. The company reported other income, net, of $73 thousand for Q3 2026, partially offsetting operating losses.

For the nine months ended September 30, 2026, the filing disclosed total operating expenses of $32,118 thousand, which included $18,794 thousand in research and development costs, $10,291 thousand in general and administrative expenses, and $3,033 thousand in restructuring and asset impairment charges, net. The accumulated deficit reached $467,514 thousand as of September 30, 2026, compared to $435,980 thousand at December 31, 2025. The filing also noted that marketable securities, which stood at $15,836 thousand at year-end 2025, were reduced to zero by September 30, 2026, and that property and equipment, net, declined from $3,273 thousand to zero over the same period.

The condensed statements of stockholders' equity show that share activity during the nine months included the issuance of 99,446 shares from at-the-market sales generating net proceeds of $1,234 thousand, the exercise of stock options for 2,488 shares at a cost basis of $14 thousand, and the exercise of pre-funded warrants in two tranches: 456,855 shares in the second quarter and 508,408 shares in the third quarter. The company also issued 4,541 shares under its employee stock purchase plan during the period. As of November 9, 2026, the registrant reported 4,579,023 shares of common stock issued and outstanding.

What Was Disclosed

NextCure filed its Form 10-Q for the quarter ended September 30, 2026, disclosing a quarterly net loss of $6,846 thousand, year-to-date restructuring charges of $3,033 thousand, pre-funded warrant exercises totaling 965,263 shares across two quarters, and total stockholders' equity of $5,503 thousand at period end.