Nuvectis Pharma, Inc. (NASDAQ:NVCT) shares are trending on Monday.
NVCT shares surged 19.61% during Monday’s regular trading session to close at $16.53.
The stock slipped slightly in after-hours trading, falling 2.90% to $16.05.
Nuvectis Pharma is a clinical-stage biopharmaceutical company developing treatments for complement-related diseases and cancer.
Its pipeline includes NXP100, a complement Factor B inhibitor, and cancer drug candidates NXP900 and NXP200.
Portfolio Expansion Drives Rally
The move higher came after Nuvectis announced a strategic portfolio expansion through a license agreement with Haisco Pharmaceutical Group for exclusive ex-China rights to two clinical-stage compounds.
The deal adds NXP100, a late-stage complement Factor B inhibitor for complement-mediated diseases, and NXP200, a paradox-breaker BRAF inhibitor for advanced cancers, to the company’s pipeline.
Under the agreement, Haisco will receive up to $40 million in upfront and near-term payments and may receive up to $1.421 billion in milestone payments, plus royalties.
Trading Metrics, Technical Analysis
Nuvectis has a market capitalization of $438.47 million, a 52-week high of $16.64, and a 52-week low of $5.55.
The stock has gained 107.66% over the past 12 months.
Currently, the stock is trading at about 98.9% of its 52-week range.
Benzinga Edge Stock Rankings indicate that Nuvectis has a positive price trend across the short, medium and long term.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: Golden Dayz on Shutterstock.com
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