Some of the Top Biotech Funds Just Bought Into This Under-the-Radar Biotech (NASDAQ: NVCT)

WSW, NY, September 3rd, 2026, FinanceWire

The latest filings showing the institutional holdings for Nuvectis Pharma (NASDAQ: NVCT) appeared a few weeks ago, and for the first time they gave a clear look at who actually put up the money supporting the company's expansion earlier this summer into immunology with NXP100, its late-stage Complement Factor B inhibitor. The answer, spelled out across these disclosures, is a roll call of dedicated healthcare specialists that may provide some insights into the funds that anchored the July follow-on financing or may have added meaningfully alongside it.

Soleus Capital Management, one of the leading healthcare-dedicated funds on the Street, has since crossed above a 5 percent stake. Soleus, which builds sharply concentrated positions in small and mid-cap biotech and rarely appears in a name it does not intend to work with for the longer term, is believed to have taken most of its position through the offering itself and has since scaled it to roughly 1.65 million shares. For a fund that runs a tightly held book, a stake above 5 percent in a clinical-stage biotech is not a passive allocation. It is a real bet, made with real conviction.

Soleus is not the only fund making this kind of a bet. Tang Capital Management, run by Kevin Tang, came in during the same window with a position of 1,550,000 shares. Tang founded Ardea Biosciences, later acquired by AstraZeneca (NYSE: AZN) and Heron Therapeutics, and has spent a career taking concentrated positions in biotechs he considers structurally mispriced. Perceptive Advisors, arguably the most closely watched dedicated biotech fund in the market and a long-term backer of Argenx, Rocket Pharmaceuticals, and Prometheus Biosciences (which Merck acquired for $10.8 billion in 2023), took a fresh position of 1,000,000 shares.

The rest of the list is not made up of “fillers”. Avidity Partners Management, Alyeska Investment Group, and Israel-based Sphera Funds Management each showed up for the first time in the same window, most likely through the offering and perhaps some incremental open-market buying. BlackRock, which has been building for over a year, added more than 30 percent in the quarter to lift its stake past one million shares, extending a run that has taken its position roughly fifteen-fold higher since early 2025. Iridian Asset Management extended a seven-quarter accumulation. As of the most recent snapshot, institutions hold roughly 30 percent of shares outstanding, roughly double the level a quarter earlier, and insiders another ~34 percent, meaning nearly two-thirds of the company sits with holders who clearly represent stronger hands.

Why they arrived when they did seems straightforward. Q2 was the quarter in which Haisco Pharmaceutical Group, a Chinese drug developer that had just closed licensing deals with Eli Lilly and AbbVie earlier in that same quarter, chose Nuvectis as its next ex-China partner. The June 22 agreement gave Nuvectis rights to two clinical-stage assets, NXP100 and NXP200, in exchange for an upfront fee, and tiered milestones and royalties. A week later, Nuvectis priced its $115 million follow-on and cleared its runway into the first half of 2029.

The scientific case that follows is where the healthcare specialists' willingness to commit becomes easier to understand. NXP100, a once-daily oral Complement Factor B inhibitor, was approved for treatment-naive paroxysmal nocturnal hemoglobinuria (PNH) in China in July 2026 on the strength of a head-to-head Phase 3 study against eculizumab, the incumbent Soliris franchise now marketed by AstraZeneca following its $39 billion acquisition of Alexion in 2021. In that trial, 59.5 percent of NXP100 patients reached hemoglobin levels of at least 12 g/dL, compared with 8.3 percent on eculizumab. A second Chinese marketing application, in patients with PNH who had previously failed C5 inhibitor therapy, is under review. Novartis's Fabhalta, the first oral CFB inhibitor to reach the US market, is picking up strong market momentum with 2Q 2026 sales of $225M, up from $167M in 1Q 2026, with Novartis publicly guiding the asset toward peak sales potential in the $3 to $10 billion tier. NXP100 is being developed as a fast-follower with a differentiated once-daily dosing profile rather than Fabhalta's twice-daily regimen.

NXP200, the second Haisco-licensed asset, is a next-generation, brain-penetrant BRAF inhibitor in Phase 1b development for BRAF-mutated cancers, including glioma, colorectal, and non-small cell lung cancer. In April 2026, Servier acquired Day One Biopharmaceuticals, whose sole approved product was a first-generation BRAF inhibitor, for $2.5 billion.

Cantor Fitzgerald initiated initiated coverage on August 24 with an Overweight rating, with a DCF-implied NPV per share of $40,, characterizing NXP100 as a de-risked asset with pipeline-in-a-product potential and describing the oncology programs as free call options.

Clinical-stage biotech carries inherent risks. Regulatory pathways in Western markets have not yet been fully defined for NXP100, and any small-cap operating in a competitive class remains exposed to execution risk. Against that backdrop, the group of specialists who put money to work in Q2, and the size at which they did it, serves as strong testament to the growing healthcare-specialized institutional support that the company is attracting.

Recent News Developments from Nuvectis Pharma (NVCT):

Ciprocopan (NXP100) Receives Marketing Approval in China for the Treatment of Patients with PNH Previously Untreated with Complement Inhibitors

Nuvectis Pharma Announces Pricing of $100 Million Public Offering of Common Stock

Nuvectis Announces Strategic Portfolio Expansion via License Agreement for Ex-China Rights with Haisco Pharmaceutical Group for Two Potentially Best-In Class Clinical-Stage Compounds

Nuvectis Pharma, Inc. To Participate in the H.C. Wainwright 4th Annual BioConnect Investor Conference at NASDAQ

Nuvectis Pharma, Inc. Reports First Quarter 2026 Financial Results and Business Highlights

Nuvectis Pharma Announces Upcoming Presentations for NXP900 at the 2026 American Association for Cancer Research Meeting

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