Nuvalent Q1 Loss Widens

(RTTNews) - Nuvalent, Inc. (NUVL) Thursday reported a wider net loss for the first quarter compared to the prior year.

The Cambridge, Massachusetts-based clinical-stage biopharmaceutical company reported loss of $44.48 million for the first quarter, compared to $25.19 million in the previous year.

On a per-share basis, loss was $0.69 per share, wider than $0.44 last year.

On average, 9 analysts polled by Thomson Reuters expected the company to report loss of $0.68 per share. Analysts estimates usually exclude special items.

James Porter, CEO of Nuvalent said, "We expect to share clinical updates from our parallel lead programs for ROS1-positive and ALK-positive NSCLC at a medical meeting in the second half of the year and are on-track to dose the first patient in our HER2 program this year."