NextCure skyrockets on merger with Avere, $320 million financing

NextCure

14/07/2026 14:51

Updates
** Shares of biotech firm NextCure NXTC.O almost quadruples to $8.22 in morning trading
    ** Co says it will merge with privately held Avere Therapeutics in an all-stock deal and operate as Avere Therapeutics after closing
** NXTC says concurrent $320 mln private financing will fund development of AVR-001, an experimental once-weekly pill for inflammatory diseases
** AVR-001 targets IL-23, a protein linked to conditions including psoriasis, a chronic skin disease that causes scaly patches
** Avere plans to start a mid-stage psoriasis trial in early 2027, with data expected in first-half 2028
**  Pre-merger Avere stockholders, including investors in the financing, are expected to own about 98.8% of the combined company; NextCure stockholders about 1.2%
** Including session's move, stock down ~42% YTD

 (Reporting by Sahil Pandey in Bengaluru)
 ((Sahil.Pandey@thomsonreuters.com))