SCHEDULE 13G/A 0002050709-25-000009 0002050709 XXXXXXXX LIVE 1 Common Stock, $0.001 par value per share 12/31/2025 0001661059 NextCure, Inc. 65343E207 9000 VIRGINIA MANOR ROAD, SUITE 200 BELTSVILLE MD 20705 Rule 13d-1(b) Squadron Master Fund LP DE 0.00 271127.00 0.00 271127.00 271127.00 9.9 PN Squadron Capital Management LLC DE 0.00 271127.00 0.00 271127.00 271127.00 9.9 IA HC Matthew Sesterhenn X1 0.00 271127.00 0.00 271127.00 271127.00 9.9 HC IN William Blank X1 0.00 271127.00 0.00 271127.00 271127.00 9.9 HC IN NextCure, Inc. 9000 VIRGINIA MANOR ROAD, SUITE 200, BELTSVILLE, MARYLAND, 20705. Squadron Master Fund LP Squadron Capital Management, LLC Matthew Sesterhenn William Blank Squadron Master Fund LP c/o Squadron Capital Management, LLC 999 Oakmont Plaza Drive, Suite 600 Westmont, IL 60559 Squadron Capital Management, LLC 999 Oakmont Plaza Drive, Suite 600 Westmont, IL 60559 Matthew Sesterhenn c/o Squadron Capital Management, LLC 999 Oakmont Plaza Drive, Suite 600 Westmont, IL 60559 William Blank c/o Squadron Capital Management, LLC 999 Oakmont Plaza Drive, Suite 600 Westmont, IL 60559 Squadron Master Fund LP - Delaware Squadron Capital Management, LLC - Delaware Matthew Sesterhenn - United States William Blank - United States N IA HC Squadron Capital Management, LLC is an investment adviser that is registered as an Exempt Reporting Adviser with the Securities and Exchange Commission. Squadron Capital Management, LLC, which serves as investment adviser to private funds, including but not limited to Squadron Master Fund LP (collectively, the "Funds"), may be deemed to be the beneficial owner of all shares of Common Stock held by the Funds. Mr. Sesterhenn and Mr. Blank, as Partners of Squadron Capital Management, LLC, with the power to exercise investment and voting discretion, may be deemed to be the beneficial owner of all shares of Common Stock held by the Funds. Pursuant to Rule 13d-4 under the Securities Exchange Act of 1934, as amended, Squadron Capital Management, LLC and Mr. Sesterhenn and Mr. Blank expressly disclaim beneficial ownership over any of the securities reported in this statement, and the filing of this statement shall not be construed as an admission that Squadron Capital Management, LLC or Mr. Sesterhenn and Mr. Blank are the beneficial owner of any of the securities reported herein. This amount comprises beneficial ownership of 271,127 shares of Common Stock which consists of (i) 236,966 shares of Common Stock and (ii) 34,161 shares issuable upon exercise of warrants held by Squadron Capital Management LLC (the "Warrants"). Squadron Master Fund LP - 271,127 shares Squadron Capital Management, LLC - 271,127 shares Matthew Sesterhenn - 271,127 shares William Blank - 271,127 shares All such shares of Common Stock in the aggregate represent beneficial ownership of approximately 9.99% of the Common Stock based on (i) 2,679,822 shares of Common Stock outstanding as of October 31, 2025 as represented in the Form 10-Q filed by the Issuer with the Securities and Exchange Commission ("SEC") on November 5, 2025, plus (ii) 34,161shares of Common Stock issuable upon the exercise of the Warrants. Squadron Master Fund LP - 9.99% Squadron Capital Management, LLC - 9.99% Matthew Sesterhenn - 9.99% William Blank - 9.99% Squadron Master Fund LP - 0 Squadron Capital Management, LLC - 0 Matthew Sesterhenn - 0 William Blank - 0 Squadron Master Fund LP - 271,127 shares Squadron Capital Management, LLC - 271,127 shares Matthew Sesterhenn - 271,127 shares William Blank - 271,127 shares Squadron Master Fund LP - 0 Squadron Capital Management, LLC - 0 Matthew Sesterhenn - 0 William Blank - 0 Squadron Master Fund LP - 271,127 shares Squadron Capital Management, LLC - 271,127 shares Matthew Sesterhenn - 271,127 shares William Blank - 271,127 shares Y N The Funds have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares of Common Stock covered by this Statement. N See Notes above. Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11. Squadron Master Fund LP /s/ Matthew Sesterhenn 02/17/2026 Squadron Capital Management LLC /s/ Matthew Sesterhenn 02/17/2026 Matthew Sesterhenn /s/ Matthew Sesterhenn 02/17/2026 William Blank /s/ William Blank 02/17/2026