Subsequent Events	9 Months Ended
Sep. 30, 2026
Subsequent Events
Subsequent Events	15. Subsequent Events The Company has evaluated subsequent events occurring after September 30, 2026 through the date these financial statements were issued. LNCB74 Program Transition On October 6, 2026, the Company completed the transfer of the IND and related regulatory responsibilities for LNCB74 to LigaChem pursuant to the Transition and Continuation Agreement. Following completion of the transfer, LigaChem became the sponsor of the LNCB74 program and assumed responsibility for future development activities and associated costs in accordance with the parties' agreements. The Company retains rights to potential future development, regulatory and commercial milestone payments and royalty payments under the LigaChem Agreement. Subject to the terms of the proposed contingent value rights agreement, these economic rights are expected to be eligible for inclusion within the contingent value right structure established for the benefit of pre-Merger NextCure stockholders. SIM0505 Program In October 2026, the Company withdrew the investigational new drug application ("IND") for SIM0505 with the U.S. Food and Drug Administration. The Company continues to conduct study close-out activities associated with the program and evaluate partnering, licensing and other monetization opportunities, subject to the terms of its existing license agreement. Merger Transaction On November 6, 2026, the Registration Statement on Form S-4 relating to the proposed Merger with Avere was declared effective by the Securities and Exchange Commission. Following effectiveness, the Company commenced distribution of definitive proxy materials in connection with the special meeting of stockholders to consider and vote upon the proposals required to complete the proposed Merger. The Company established November 3, 2026 as the record date for determining stockholders entitled to vote at the special meeting of stockholders and scheduled the special meeting for December 9, 2026 at 9:00 a.m. Eastern Time. Completion of the proposed Merger remains subject to stockholder approval and other customary closing conditions. Certain executive officers are party to pre-existing employment and change in control arrangements that provide for severance and other benefits upon a qualifying termination in connection with or following a change in control. If the proposed merger is approved by stockholders and subsequently consummated, the aggregate estimated payments and benefits that could become payable under such arrangements are approximately $4.3 million. Payments under these arrangements are generally due within 60 days following the applicable termination date. Stock-Based Compensation In connection with the proposed Merger with Avere, the Company suspended participation in the ESPP effective October 1, 2026. No new offering periods will commence under the ESPP following the suspension unless otherwise determined by the Board. The Company may terminate the ESPP in connection with the completion of the proposed Merger. Executive Officer Departure On October 26, 2026, the Company announced that the employment of Udayan Guha, M.D., Ph.D., the Company's Chief Medical Officer, would be terminated effective October 31, 2026 in connection with the Company's restructuring activities and the proposed Merger. In connection with his departure, Dr. Guha entered into a separation agreement with the Company providing for severance benefits consistent with the terms of his existing employment arrangements. The Company expects to recognize any associated severance costs during the fourth quarter of 2026. Section 205 Proceeding On November 2, 2026, the Delaware Court of Chancery entered a final order validating the Company's July 2025 reverse stock split amendment and all shares issued in reliance thereon.

Subsequent Events

9 Months Ended

Sep. 30, 2026

15. Subsequent Events

The Company has evaluated subsequent events occurring after September 30, 2026 through the date these financial statements were issued.

LNCB74 Program Transition

On October 6, 2026, the Company completed the transfer of the IND and related regulatory responsibilities for LNCB74 to LigaChem pursuant to the Transition and Continuation Agreement. Following completion of the transfer, LigaChem became the sponsor of the LNCB74 program and assumed responsibility for future development activities and associated costs in accordance with the parties' agreements. The Company retains rights to potential future development, regulatory and commercial milestone payments and royalty payments under the LigaChem Agreement. Subject to the terms of the proposed contingent value rights agreement, these economic rights are expected to be eligible for inclusion within the contingent value right structure established for the benefit of pre-Merger NextCure stockholders.

SIM0505 Program

In October 2026, the Company withdrew the investigational new drug application ("IND") for SIM0505 with the U.S. Food and Drug Administration. The Company continues to conduct study close-out activities associated with the program and evaluate partnering, licensing and other monetization opportunities, subject to the terms of its existing license agreement.

Merger Transaction

On November 6, 2026, the Registration Statement on Form S-4 relating to the proposed Merger with Avere was declared effective by the Securities and Exchange Commission. Following effectiveness, the Company commenced distribution of definitive proxy materials in connection with the special meeting of stockholders to consider and vote upon the proposals required to complete the proposed Merger.

The Company established November 3, 2026 as the record date for determining stockholders entitled to vote at the special meeting of stockholders and scheduled the special meeting for December 9, 2026 at 9:00 a.m. Eastern Time. Completion of the proposed Merger remains subject to stockholder approval and other customary closing conditions.

Certain executive officers are party to pre-existing employment and change in control arrangements that provide for severance and other benefits upon a qualifying termination in connection with or following a change in control. If the proposed merger is approved by stockholders and subsequently consummated, the aggregate estimated payments and benefits that could become payable under such arrangements are approximately $4.3 million. Payments under these arrangements are generally due within 60 days following the applicable termination date.

Stock-Based Compensation

In connection with the proposed Merger with Avere, the Company suspended participation in the ESPP effective October 1, 2026. No new offering periods will commence under the ESPP following the suspension unless otherwise determined by the Board. The Company may terminate the ESPP in connection with the completion of the proposed Merger.

Executive Officer Departure

On October 26, 2026, the Company announced that the employment of Udayan Guha, M.D., Ph.D., the Company's Chief Medical Officer, would be terminated effective October 31, 2026 in connection with the Company's restructuring activities and the proposed Merger. In connection with his departure, Dr. Guha entered into a separation agreement with the Company providing for severance benefits consistent with the terms of his existing employment arrangements. The Company expects to recognize any associated severance costs during the fourth quarter of 2026.

Section 205 Proceeding

On November 2, 2026, the Delaware Court of Chancery entered a final order validating the Company's July 2025 reverse stock split amendment and all shares issued in reliance thereon.