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NUVB

Nuvation Bio Inc.

NUVB

Nuvation Bio Inc. • NYSE
$8.04 ▲ 0.37% (+0.03)
Market Cap $2.75 B
52w High $8.24
52w Low $1.54
Dividend Yield 0%
P/E -16.41
Volume 3.17M
Outstanding Shares 341.83M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $13.12M ▲ $66.205M ▲ $-55.792M ▲ -425.244% ▲ $-0.16 ▲ $-54.757M ▲
Q2-2025 $4.833M ▲ $65.846M ▲ $-59.007M ▼ -1.221K% ▲ $-0.17 ▼ $-58.23M ▼
Q1-2025 $3.084M ▼ $59.994M ▲ $-53.236M ▼ -1.726K% ▼ $-0.16 ▼ $-52.872M ▼
Q4-2024 $5.711M ▲ $55.437M ▲ $-49.445M ▼ -865.785% ▲ $-0.15 $-49.137M ▼
Q3-2024 $727K $47.313M $-41.21M -5.669K% $-0.15 $-40.928M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $549.045M ▼ $601.561M ▼ $275.679M ▲ $325.882M ▼
Q2-2025 $607.722M ▲ $647.225M ▲ $274.318M ▲ $372.907M ▼
Q1-2025 $461.676M ▼ $492.489M ▼ $73.029M ▼ $419.46M ▼
Q4-2024 $502.692M ▼ $540.626M ▼ $76.838M ▲ $463.788M ▼
Q3-2024 $549.135M $571.579M $68.865M $502.714M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-55.792M ▲ $-52.889M ▼ $-96.621M ▼ $501K ▼ $-149.073M ▼ $-52.901M ▼
Q2-2025 $-59.007M ▼ $-48.178M ▼ $54.876M ▲ $193.423M ▲ $199.993M ▲ $-48.359M ▼
Q1-2025 $-53.236M ▼ $-42.627M ▲ $54.182M ▲ $548K ▲ $12.254M ▲ $-42.699M ▲
Q4-2024 $-49.445M ▼ $-46.302M ▼ $51.772M ▲ $-900K ▲ $5.687M ▲ $-46.289M ▼
Q3-2024 $-41.21M $-31.085M $29.116M $-1.538M $-4.249M $-31.233M

Revenue by Products

Product Q1-2025Q2-2025
License
License
 $0 ▲$0 ▲
Product
Product
 $0 ▲$0 ▲
Product Revenue
Product Revenue
 $0 ▲$0 ▲
Royalty Revenue
Royalty Revenue
 $0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Nuvation Bio is still very much in the investment phase. For several years it generated essentially no revenue, and even now, with its first product launched, sales are only just beginning and remain too small to offset spending. The company runs consistent operating and net losses as it funds clinical trials, builds commercial capabilities, and supports a broad pipeline. Those losses stepped up recently, which likely reflects higher R&D and launch-related costs. This pattern is typical for a clinical‑stage biotech transitioning to early commercialization, but it means the business is currently far from profitability and depends on external capital or existing cash to keep funding its plans.

Balance Sheet

Balance Sheet The balance sheet shows a company that is asset‑light, equity‑funded, and only lightly levered. Total assets and shareholders’ equity are still substantial but have been drifting down as cash is used to fund losses. Cash and equivalents form a meaningful portion of assets, offering a financial cushion, but that cushion is gradually shrinking. Debt is minimal, which reduces financial risk but also means there’s limited leverage to amplify returns. Overall, the balance sheet looks reasonably solid today, but the long‑term picture hinges on either successful products or new funding before the current resources are drawn down too far.

Cash Flow

Cash Flow Cash flow is negative and has been consistently so, driven by research spending and operating costs rather than heavy investment in physical assets. The company’s operating cash outflows and free cash outflows are broadly similar, since capital spending is very low. This is typical for a biotech focused on intellectual property and clinical trials rather than factories. The key question is how long the existing cash can support this burn rate and whether the new commercial product can meaningfully reduce the dependence on capital markets over time.

Competitive Edge

Competitive Edge Nuvation Bio is trying to carve out a niche in difficult‑to‑treat cancers, where competition is intense but the medical need is high. Its first approved drug, a next‑generation ROS1 inhibitor, has some clear differentiators, especially its ability to reach the brain and a potentially better side‑effect profile. That creates a foothold in a defined patient group, but it competes against established oncology players with larger sales forces and broader portfolios. The company’s leadership brings strong prior success in oncology, which strengthens its credibility with partners and clinicians. At the same time, the discontinuation of one pipeline asset highlights that the competitive and scientific bar in this space is high, and not all programs will succeed.

Innovation and R&D

Innovation and R&D Innovation is the core of Nuvation Bio’s story. The company is advancing several targeted cancer drugs, with a focus on brain‑penetrant therapies and mechanistically distinct approaches. Its lead commercial product is an example of this, and the move of safusidenib into a pivotal study for a specific form of brain cancer underscores its ambition to address underserved niches. The proprietary drug‑drug conjugate platform, although it suffered a setback with the discontinuation of its first candidate, could become a long‑term differentiator if next‑generation programs deliver better and more consistent results. Management has shown willingness to cut weaker assets and redirect resources, which is a positive sign of discipline, but it also means the ultimate value of the pipeline remains uncertain until more late‑stage data emerge.

Summary

Nuvation Bio is in a classic early‑commercial biotech position: one newly approved product, a pipeline with both promise and setbacks, and a financial profile dominated by losses and cash burn. The income statement shows a company still far from self‑funding, while the balance sheet and cash flows indicate a finite but meaningful runway supported by prior funding and limited debt. Competitively, its focus on hard‑to‑treat cancers and brain‑penetrant drugs, combined with experienced leadership, provides a credible platform, but it faces large, well‑resourced rivals and the usual clinical and regulatory risks of oncology drug development. Over the next few years, the strength of IBTROZI’s launch, the outcome of the safusidenib program, and progress on next‑generation conjugates will largely determine whether the current investment in R&D translates into a more durable and financially sustainable business.

NEWS

November 26, 2025 · 4:05 PM UTC

Nuvation Bio to Participate in Upcoming Investor Conferences

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November 3, 2025 · 4:05 PM UTC

Nuvation Bio Reports Third Quarter 2025 Financial Results and Provides Business Update

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October 23, 2025 · 7:30 AM UTC

Nuvation Bio Enrolls First Patient in Global, Randomized Study of Safusidenib for Maintenance Treatment of High-Grade IDH1-Mutant Glioma

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October 20, 2025 · 4:05 PM UTC

Nuvation Bio to Report Third Quarter 2025 Financial Results and Provide Business Update on November 3, 2025

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September 30, 2025 · 7:30 AM UTC

Nuvation Bio Enrolls First Patient in TRUST-IV Phase 3 Study of IBTROZI™ (taletrectinib) for the Adjuvant Treatment of ROS1-Positive Early-Stage Non-Small Cell Lung Cancer

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