BUZZ-Nuvectis rises as it secures two experimental drugs in licensing deal

Nuvectis Pharma, Inc.

Nuvectis Pharma, Inc.

NVCT

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** Shares of Nuvectis Pharma NVCT.O rise 5.6% to $14.60 premarket

** The biotech firm says it licensed two experimental drugs from China's Haisco, expanding into rare disease and cancer

** Adds that first drug NXP100 is a once-daily pill for complement-mediated diseases, conditions where the immune system damages blood cells, including rare blood disorder PNH

** Studies showed patients achieved healthy hemoglobin without transfusions; China filings under review - NVCT

** Says second drug NXP200 is an oral cancer treatment targeting BRAF mutations, genetic changes that drive tumor growth

** Adds that early data showed tumor shrinkage in heavily treated patients; China trial ongoing

** Says deal includes up to $40 mln upfront, up to $1.4 bln in milestones and royalties

** As of close, stock up ~83% YTD