** Shares of biotech firm NextCure NXTC.O rise 93% to $4.19 premarket

** Co says it will merge with privately held Avere Therapeutics in an all-stock deal and operate as Avere Therapeutics after closing

** NXTC says concurrent $320 mln private financing will fund development of AVR-001, an experimental once-weekly pill for inflammatory diseases

** AVR-001 targets IL-23, a protein linked to conditions including psoriasis, a chronic skin disease that causes scaly patches

** Avere plans to start a mid-stage psoriasis trial in early 2027, with data expected in first-half 2028

** Pre-merger Avere stockholders, including investors in the financing, are expected to own about 98.8% of the combined company; NextCure stockholders about 1.2%

** As of last close, stock down ~85% YTD