NextCure Inc (NXTC) News & EventsNXTCNews & EventsNextCure Inc

Stocks Rise on Soft Inflation Data; IBM Faces Pressure

Stocks moved higher after softer inflation data shut the door on a Fed rate hike this month. Both headline and core inflation rates declined, easing the impact of another rally in energy prices after the U.S. and Iran maintained strikes against each other. The S&P 500 and Nasdaq 100 were the leaders to the upside near midday, while the Dow swung into the green to hover above the flatline.Meanwhile, attention is focused on the first wave of second-quarter earnings from major U.S. banks. IBM is also under pressure after issuing a softer-than-expected revenue outlook, weighing on software and enterprise technology stocks.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:IBMoffered abut guided for 5% software revenueHCA Healthcareprovided an upbeat earnings outlook for Q2 butGoldman Sachsreported sharplyas investment banking fees grew 55% year-over-year in the quarterMeanwhile, JPMorganreported, with the company saying it expects AI to produce "huge efficiencies" across the bankAdditionally, Wells Fargoand Citiboth reported2. WALL STREET CALLS:Appleto Underweight at KeyBancPrior to IBM's negative pre-announcement, HSBCshares to Reduce, arguing in favor of a "synthetic IBM" insteadCircle Internetto Underperform at MizuhoBarclayscoverage of SK Hynixwith an Overweight rating and $330 price targetSpaceXwith an Outperform at Evercore ISI3. AROUND THE WEB:Uberis in advanced talks to acquire Delivery Hero, Bloomberg reportsGoogleis being probed over Android's default search feature, Reuters reportsOpenAI's first device is expected to be unveiled in 2026, Bloomberg saysA U.S. unit of ZTEand two other Chinese companies have received approval to purchase advanced AI chips from Nvidiaand AMD, signaling a selective easing of export restrictions for certain Chinese firms, Reuters saysA U.S. official says that "very few" of Nvidia's H200 chips have shipped to China yet, Reuters reports4. MOVERS:NextCuresurges after entering into awith Avere TherapeuticsNvidiahigher afterit halved its Asia buyer list amid strict export controlsJet.AIdrops after entering into a Letter of Intent for awith a privately held operating companyBiogenlower after announcing expanded data from itsBrown-Formanfalls after CEO Lawson Whiting5. EARNINGS/GUIDANCE:FastenalreportedTrex Companyraised itsand FY26Ericssonreported a year-over-yearUnity Bancorpreported slightlyVirtu FinancialreportedINDEXES:Near midday, the Dow was down 0.15%, or 80.83, to 52,417.81, the Nasdaq was up 0.79%, or 203.78, to 26,076.96, and the S&P 500 was up 0.28%, or 20.96, to 7,536.30.

NextCure, Avere to Merge All-Stock to Form AVRX; NextCure to 1.21% ownership

NextCure and Avere Therapeutics, a privately-held biotechnology company advancing oral therapies for IL-23 driven inflammatory diseases, announced they have entered into a definitive merger agreement for an all-stock transaction. The Agreement brings together Avere's differentiated oral IL-23 program with NextCure's public market infrastructure to accelerate development of AVR-001. Upon completion of the transaction, which is expected to occur in the second half of 2026, the combined company is expected to operate as Avere Therapeutics, Inc., and trade on Nasdaq under the ticker symbol "AVRX." Under the terms of the merger agreement, as of the closing of the proposed merger, the pre-merger NextCure stockholders are expected to own approximately 1.21% of the combined company and the pre-merger Avere stockholders (inclusive of those investors participating in the pre-closing financing) are expected to own approximately 98.79% of the combined company. The percentage of the combined company that NextCure's stockholders will own as of the closing of the proposed merger is subject to adjustment based on the estimated amount of NextCure's net cash immediately prior to the closing date. The transaction has received approval by the Board of Directors of both companies and is expected to close in the second half of 2026, subject to certain closing conditions, including, among others, approval by the stockholders of each company, the effectiveness of a registration statement to be filed with the U.S. SEC to register the securities to be issued in connection with the proposed merger and the satisfaction of other customary closing conditions. The combined company plans to operate under the name Avere Therapeutics, Inc. and will be led by Dr. Andrew Cheng, Avere's current Chief Executive Officer. Avere's existing Board of Directors will become directors of the combined company. The Board is chaired by Dr. Cheng and includes Julianne Bruno and two representatives from Hansoh. In addition, Nimish Shah is expected to join the Board prior to transaction closing. NextCure stockholders are eligible to receive a contingent value right (CVR) entitling them to 90% of net proceeds from any future license, divestiture or other monetization of NextCure's pipeline assets and other programs for a period of two years following the closing of the transaction.