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GENERAL
 3 Months Ended
Mar. 31, 2026
GENERAL  
GENERAL

NOTE 1 – GENERAL:

a.Nuvectis Pharma, Inc. (hereafter – the “Company”) was incorporated under the laws of the State of Delaware on July 27, 2020 and commenced its principal operations in May 2021. The Company’s main office is located in Fort Lee, New Jersey. The Company’s shares are traded on the NASDAQ under symbol “NVCT”.

The Company is a biopharmaceutical company focused on the development of innovative precision medicines for the treatment of serious conditions of unmet medical need in oncology.

b.In August 2021, the Company entered into a worldwide, exclusive license agreement with the University of Edinburgh, Scotland for the Company’s drug candidate NXP900 (see Note 3a).
c.Liquidity and Capital Resources

The Company has incurred net operating losses since its inception and had an accumulated deficit of $105.7 million as of March 31, 2026. The Company had cash and cash equivalents of $25.1 million as of March 31, 2026 and has not generated positive cash flows from operations. To date, the Company has been able to fund its operations primarily through the issuance and sale of common stock.

During the three months ended March 31, 2026, the Company sold a total of 831 common shares under its At-the-Market Program for total gross proceeds of approximately $7 thousand at an average selling price of $9.27 per share, resulting in net proceeds of approximately $7 thousand after deducting issuance costs.

Management believes that its existing cash and cash equivalents as of March 31, 2026 enable the Company to fund planned operations for at least 12 months following the issuance date of these condensed financial statements.

The Company will need to raise additional capital in order to complete the clinical trials aimed at developing the product candidates until obtaining its regulatory and marketing approvals and, if approved, for the commercialization of our product candidates. There can be no assurances that the Company will be able to secure such additional financing, or at terms that are satisfactory to the Company, and that it will be sufficient to meet its needs. In the event the Company is not successful in obtaining sufficient funding, this could force the Company to delay, limit, or reduce its products’ development, clinical trials, commercialization efforts or other operations, or even close down or liquidate.

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