Roth Capital analyst Jonathan Aschoff has maintained a Buy rating on Nuvectis Pharma and raised the price target to $33 from $20. This revision follows the company's recent pricing of a public offering. Nuvectis Pharma priced its underwritten public offering of 5,000,000 shares of common stock at $20.00 per share to generate expected gross proceeds of $100 million. The clinical stage biopharmaceutical company, focused on therapies for immune complement-related conditions and oncology, granted underwriters a 30-day option to purchase up to 750,000 additional shares.

Cantor is acting as the sole book runner for the offering. H.C. Wainwright & Co., Laidlaw & Company (UK) Ltd., Lucid Capital Markets, Maxim Group LLC, Roth Capital Partners, and Titan Partners are acting as co-managers. Nuvectis intends to use the net proceeds to continue to advance the development programs of NXP100, NXP200, and NXP900 or any future product candidate, hiring of additional personnel, capital expenditures, costs of operating as a public company and other general corporate purposes.

Offering Details

The securities are offered pursuant to a shelf registration statement on Form S-3 (File No. 333-293459) filed with the U.S. Securities and Exchange Commission (SEC) on February 13, 2026, and declared effective on February 20, 2026. A preliminary prospectus supplement has been filed with the SEC and is available on its website.

Nuvectis Pharma, Inc. (NASDAQ: NVCT) shares surged 19.61% during Monday’s regular trading session to close at $16.53, marking a new 52-week high. The stock slipped slightly in after-hours trading, falling 2.90% to $16.05. The rally follows a strategic portfolio expansion through a license agreement with Haisco Pharmaceutical Group for exclusive ex-China rights to two clinical-stage compounds, NXP100 and NXP200. Nuvectis has a market capitalization of $438.47 million and has gained 107.66% over the past 12 months.

Transaction Details and Strategic Impact

Under the agreement, Nuvectis in-licensed exclusive worldwide Ex-China rights for NXP100, a Complement Factor B inhibitor, and NXP200, a paradox-breaker BRAF inhibitor. The deal includes upfront and near-term payments totaling up to $40 million, with Haisco eligible to receive up to $1.421 billion in additional development, regulatory, and commercial milestone payments, as well as tiered royalties on future net sales. Haisco retains rights for NXP100 in India and certain Southeast Asia territories. The agreement is subject to certain financing conditions which Nuvectis is required to meet to ensure sufficient capital for the development of the licensed products.

NXP100: Complement Factor B Inhibitor

NXP100 (HSK39297) is a once-daily, oral Complement Factor B inhibitor in late-stage development for the treatment of complement-mediated diseases. In China, two Marketing Authorization Applications (MAAs) are under review for the treatment of Paroxysmal Nocturnal Hemoglobinuria (PNH). The applications seek approvals for treatment-naive patients and for patients who failed treatment with a Complement protein 5 (C5) inhibitor. Additionally, a Phase 3 trial is ongoing in Immunoglobulin A Nephropathy (IgAN), and a Phase 2 trial is ongoing in Lupus Nephritis (LN).

Clinical Data for NXP100

In a completed Phase 3 study comparing NXP100 to Soliris (eculizumab) in treatment-naive PNH patients, NXP100 demonstrated superior efficacy in the primary endpoint and all key secondary endpoints. The proportion of participants achieving hemoglobin levels ≥12 g/dL without red blood cell transfusion was 59.5% for NXP100 compared to 8.3% for eculizumab. In a separate Phase 3 study for patients who failed C5 inhibitor treatment, NXP100 achieved a response rate of 52.8%.

In IgAN, Phase 2 data showed a reduction in 24-hour urine protein to creatinine (24h-UPCR) relative to baseline versus placebo. At Week 12, the reduction was 45.3%, improving to 57.7% at Week 24.

NXP200: Paradox-Breaker BRAF Inhibitor

NXP200 (HSK42360) is an oral, brain penetrant, paradox-breaker BRAF inhibitor for the treatment of BRAF V600X-mutated and Class II/III non-V600-mutated malignancies. The compound has generated single-agent durable responses in several tumor types, including CNS, colorectal, melanoma, non-small-cell lung cancer, and papillary thyroid cancer. A Phase 1b study in China is ongoing. The intellectual property protection for both compounds includes composition of matter patents expiring in 2043 for NXP100 and 2042 for NXP200.