Why did Nuvalent's operating expenses surge in Q4 2024?

Nuvalent's operating expenses did not surge in Q4 2024. In fact, no results were found for operating expenses in that quarter. Instead, the company reported a net loss of $74.8 million for the fourth quarter of 2024, and a net loss of $260.8 million for the year ended December 31, 2024. The company's financial results for Q4 2024 and the year 2024 are as follows: 1. **Net Loss**: Nuvalent reported a net loss of $74.8 million for the fourth quarter of 2024 and a total of $260.8 million for the year ended December 31, 2024. 2. **Pivotal Data Expectations**: The company is expecting pivotal data for zidesamtinib in TKI pre-treated ROS1-positive NSCLC population in the first half of 2025, which could support the anticipated first NDA submission by mid-year 2025. 3. **Development Strategies**: Nuvalent is also developing strategies for TKI-naïve populations, including the planned initiation of the ALKAZAR Phase 3 randomized, controlled trial of neladalkib for front-line ALK-positive NSCLC in the first half of 2025. 4. **Global Expanded Access Programs**: The company has implemented global Expanded Access Programs for zidesamtinib and neladalkib, prioritizing patient access. These developments and the expectation of pivotal data likely contributed to the net loss reported in Q4 2024, rather than a surge in operating expenses.