NextCure, Inc. to Merge with Avere Therapeutics, Inc.
NextCure, Inc. has entered into a definitive merger agreement with Avere Therapeutics, Inc., a privately held biotechnology company. The proposed merger is expected to close in the fourth quarter of 2026, after which the combined company will operate as Avere Therapeutics, Inc. and trade under the ticker symbol 'AVRX'. Avere is concurrently raising approximately $820.0 million in private financing. In preparation for the merger and to align operations, NextCure has undertaken significant restructuring, including workforce reductions and exiting leased facilities. The company reported a net loss of $6.8 million for the third quarter of 2026 and has $8.7 million in cash, with liquidity expected to last into early 2027. NextCure has also ceased investment in its LNCB74 program and withdrawn its SIM0505 IND.
Key Highlights
- NextCure, Inc. announced a proposed merger with Avere Therapeutics, Inc., expected to close in Q4 2026.
- The combined company will operate as Avere Therapeutics, Inc. and trade as 'AVRX' on Nasdaq.
- Avere is raising approximately $820.0 million in private financing, contingent on the merger closing.
- NextCure's cash and cash equivalents were $8.7 million as of September 30, 2026, with operations expected to sustain into early 2027.
- The company incurred a net loss of $6.8 million for the three months ended September 30, 2026.
- Restructuring activities included workforce reduction and exiting leased facilities, with expected charges of $2.4 million.
- NextCure has ceased further investment in the LNCB74 co-development program, transferring responsibility to LigaChem Biosciences.
- The company withdrew the SIM0505 IND with the U.S. Food and Drug Administration and is seeking to monetize its rights.
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