Ron Bentsur, Chairman and CEO of Nuvectis Pharma, Inc. (NASDAQ:NVCT), recently acquired 4,500 shares of the company’s common stock. The shares were purchased at an average price of $4.65 each, with the total transaction valued at $20,925. The purchase comes as the stock trades near its 52-week low of $4.44, with InvestingPro data showing the company maintains a healthy liquidity position with a current ratio of 2.74. Following this acquisition, Bentsur now holds a total of 3,270,924 shares in the company, which includes 426,759 shares of restricted stock. This purchase reflects Bentsur’s continued investment in Nuvectis Pharma, a company focused on pharmaceutical preparations. With a market capitalization of approximately $90 million, analysts maintain a bullish outlook, setting price targets between $20 and $25. InvestingPro subscribers can access additional insights and financial metrics to evaluate this insider buying signal.
In other recent news, Nuvectis Pharma has reported positive data from a Phase 1b study of NXP800, a treatment for a specific type of ovarian cancer. The study showed promising antitumor activity, with one patient showing an unconfirmed partial response and six patients achieving stable disease with tumor shrinkage. The company has successfully mitigated severe blood conditions, previously a side effect, by adjusting the dosing schedule. Nuvectis plans to increase the dose intensity in future cohorts and anticipates sharing further clinical data in 2025.
In addition to this, NXP800 has received Fast Track and Orphan Drug Designations from the FDA, signifying its potential in treating ARID1a-deficient ovarian, fallopian tube, and primary peritoneal cancers. The Orphan Drug Designation could lead to incentives for drug development and up to seven years of marketing exclusivity upon approval.
Furthermore, NXP800 is being evaluated for the treatment of cholangiocarcinoma in a separate study. The company is also developing NXP900, a drug targeting the SRC Family of Kinases, currently in a Phase 1a dose escalation study. These are recent developments in Nuvectis’ pipeline that could potentially benefit from the incentives associated with the Orphan Drug Designation.
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