NextCure is a clinical-stage biopharmaceutical company developing targeted cancer treatments using antibody-drug conjugates (ADCs), which combine monoclonal antibodies with cytotoxic drugs to deliver precise therapy to tumor cells. The company's lead program, SIM0505, targets cadherin-6 across solid tumors including ovarian and lung cancers, while LNCB74 targets the immunosuppressive checkpoint B7-H4 in gynecological malignancies, with both leveraging distinct payloads designed to address treatment resistance. NextCure generates revenue through milestone payments, regulatory approvals, and royalties on future net sales under its partnership agreements, positioning itself in the ADC sequencing paradigm where patients receive sequential therapies with different tumor-targeting mechanisms.