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Nuvalent advances NVL-655 in phase 2 trial for lung cancer By Investing.com

Nuvalent advances NVL-655 in phase 2 trial for lung cancer By Investing.com

© Reuters.

CAMBRIDGE, Mass. – Nuvalent, Inc. (NASDAQ: NUVL), a clinical-stage biopharmaceutical company, today announced the initiation of Phase 2 of its ALKOVE-1 clinical trial, which will test NVL-655 in patients with ALK-positive non-small cell lung cancer (NSCLC). This follows the company’s alignment with the US Food and Drug Administration (FDA) on a recommended phase 2 dose of 150 mg once daily.

NVL-655 is a novel, brain-penetrating, selective ALK tyrosine kinase inhibitor (TKI) developed to treat emerging treatment resistance and brain metastases while minimizing off-target central nervous system (CNS) adverse events. ). The phase 2 trial is part of a larger effort to bring the best potential therapies to cancer patients.

The Phase 2 trial will be conducted globally and is designed for registration purposes for TKI-pretreated patients with ALK-positive NSCLC. It also allows a preliminary evaluation in patients who are naïve to TKI treatment. The trial will include various cohorts based on patients’ prior treatments and will evaluate the effectiveness of NVL-655 in patients who have previously received up to three ALK TKIs, as well as those who have not been treated with TKIs but may have received chemotherapy or immunotherapy.

The recommended phase 2 dose was determined following the phase 1 portion of the ALKOVE-1 trial, which evaluated six dose levels and did not reach the maximum tolerated dose. The 150 mg daily dose maintained plasma levels above target efficacy thresholds without achieving toxicity, indicating a favorable safety profile.

Nuvalent aims to provide an update on the ALKOVE-1 trial later in the year and is also progressing with its OnTarget 2026 operational plan, which includes advancing its NVL-520 and NVL-655 pipeline candidates toward data potential pivots in 2025 and the first data approved. produced in 2026.

This report is based on a press release from Nuvalent, Inc.

InvestingPro Insights

As Nuvalent, Inc. (NASDAQ: NUVL) advances through Phase 2 clinical trials for its promising cancer treatment NVL-655, investors are closely monitoring the company’s financial health and market performance. According to InvestingPro’s latest metrics, Nuvalent has a market capitalization of approximately US$5.16 billion, reflecting significant market interest in its innovative approach to treating ALK- non-small cell lung cancer (NSCLC). positive.

However, the company’s current price-to-earnings (P/E) ratio stands at -40.89, with an adjusted trailing twelve-month P/E to Q3 2023 at -45.15, indicating that profitability is always a future goal rather than a current goal. reality. This is consistent with InvestingPro advice, which notes that analysts do not expect the company to be profitable this year and that net income is expected to decline. Despite these challenges, Nuvalent’s price-to-book ratio is 13.04, suggesting that the company’s assets are highly valued by the market, likely due to its portfolio of innovations and intellectual property.

InvestingPro tips highlight that Nuvalent holds more cash than debt, which is a positive sign for the company’s financial stability, and that its liquid assets exceed short-term obligations, ensuring operational resilience. Additionally, the stock has performed strongly over the last year, with a total return of 187.58%, and it is currently trading near its 52-week high at 98.31% of that summit.

Investors looking for deeper analysis and additional InvestingPro advice can find it at https://www.investing.com/pro/NUVL. There are 13 other tips available on InvestPro, providing a comprehensive perspective on Nuvalent’s financial and stock market situation. For those interested in an annual or biannual Pro and Pro+ subscription, use the promo code PRONEWS24 to benefit from an additional 10% discount.

This article was generated with the support of AI and reviewed by an editor. For more information, consult our General Terms and Conditions.

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