NextCure Inc. Common Stock (NXTC)

FairStock Score: 54/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

Looking at NextCure through a Graham-and-Buffett lens, I see a clinical-stage biotech with no revenue and a long record of losses. In fiscal 2025, the year ended 2025-12-31, net income was -$55.8 million and diluted EPS was -$19.65. In fiscal 2024, net income was -$55.7 million, and in fiscal 2023 it was -$62.7 million. More recently, in fiscal Q2 2026, the quarter ended 2026-06-30, net income was -$14.9 million and diluted EPS was -$2.80. That is not owner earnings; it is a pipeline consuming capital. Financial health is weak by the numbers. Trailing free cash flow is -$37.0 million, and FairStock's FCF yield is -128.7% on the $28.7 million market cap at the $6.28 close on 2026-10-13. FairStock's calculations tied to that close show P/E -0.76 and P/B 2.10. FairStock's ROE is -204.56%, ROCE is -69.02%, Piotroski is 0/9, and Altman Z is -26.02. The FairStock score is 54/100. Debt-to-equity of 0.38 is modest, but cash burn remains severe. The given Lynch category is none because losses occurred in each of the last four years. What about a moat? A clinical-stage company's moat would come from intellectual property and clinical data, not current financials. Nothing here shows pricing power or recurring revenue. Growth trajectory is hard to judge with no revenue; the provided profit growth of 44.45% does not offset the trailing loss and cash burn. At about 2.1 times book with negative earnings, I would not call it cheap on Graham terms. It is a speculative option on pipeline success, not a value investment backed by present numbers.

In plain English: NextCure is a small clinical-stage company trying to develop cancer medicines and an Alzheimer's candidate. It has no product sales in the filed periods and has lost money for years. The stock price is not supported by current profits or cash flow; because there are no earnings, it looks more like a speculative bet on future trial results than a cheap, proven business.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer