Nuvectis Pharma (NVCT) IPO Sinks on Open

Today's IPO for Nuvectis Pharma, Inc. (Nasdaq: NVCT) opened for trading earlier $3.95 after pricing 3,200,000 shares of common stock at a public offering price of $5.00 per share. Shares have since drifted lower to $3.317.

H.C. Wainwright & Co. is acting as sole book-running manager for the offering.

.Nuvectis Pharma, Inc. is a biopharmaceutical company focused on the development of innovative precision medicines for serious conditions of unmet medical need in oncology. The Company is currently developing two drug candidates: NXP800, a clinical-stage HSF1 pathway inhibitor currently in a Phase 1 study in patients with advanced solid tumors, and NXP900, a novel SRC/YES1 kinase inhibitor currently in preclinical development with IND-enabling studies ongoing.

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