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NUVB-WT

Nuvation Bio Inc.

NUVB-WT

Nuvation Bio Inc. • NYSE
$0.32 ▲ 30.18% (+0.07)
Market Cap $1.21 B
52w High $0.36
52w Low $0.14
Dividend Yield 0%
P/E 0
Volume 107.23K
Outstanding Shares 3.79B

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 Q1-2025Q2-2025Q3-2025
License
License
 $0 ▲$0 ▲$10.00M ▲
Product
Product
 $0 ▲$0 ▲$10.00M ▲
Product Revenue
Product Revenue
 $0 ▲$0 ▲$0 ▲
Royalty Revenue
Royalty Revenue
 $0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Nuvation Bio is still essentially a pre-commercial biotech story. Revenue has been near zero for several years, so the income statement is driven almost entirely by research and development and other operating costs. Losses have been consistent every year, and the most recent year shows a step up in spending and a wider loss per share. In simple terms, the company is firmly in the investment phase: putting money into its pipeline without yet seeing meaningful product sales flow through the income statement.

Balance Sheet

Balance Sheet The balance sheet shows a company funded mainly by equity with very little debt. Total assets have gradually drifted down as cash is used to fund operations, but shareholder equity still represents the bulk of the capital structure. Cash remains a key asset, though it has been moving lower over time, which is typical for a clinical-stage biotech between major financings or partnership deals. Overall, the balance sheet looks clean but increasingly reflects the ongoing cash burn.

Cash Flow

Cash Flow Cash flows are negative and almost entirely driven by operating losses. There is no meaningful capital spending, so the free cash outflow closely matches the cash used in day-to-day operations. This means the company’s runway depends on how tightly it controls its research and overhead spending and on its ability to access new capital or partnerships as programs advance. The pattern is what you’d expect for a development-stage biotech: steady cash burn with no offsetting inflows from product sales yet.

Competitive Edge

Competitive Edge Nuvation Bio is aiming at defined niches within oncology rather than broad, crowded markets. Its lead drug, taletrectinib (IBTROZI), is positioned in a targeted lung cancer segment where resistance to first-generation drugs and brain metastases remain real problems. If its clinical performance continues to hold up, it could differentiate on effectiveness in tougher-to-treat patients and brain penetration. Safusidenib targets a specific brain tumor mutation, again focusing on a narrow but underserved group. The company’s competitive position depends heavily on proving that its drugs are clearly better or meaningfully different from existing options, in areas where big players are already active. The discontinuation of its first drug-drug conjugate program shows this is a high-risk environment with no guarantees, even for promising platforms.

Innovation and R&D

Innovation and R&D Innovation is the core of Nuvation Bio’s story. The company is centered on precision oncology, with molecules designed to hit very specific cancer drivers and to work well in the brain—an area where many drugs struggle. Taletrectinib and safusidenib embody this focus, aiming to solve real limitations of current treatments. The proprietary drug-drug conjugate platform is more experimental; the first candidate failed to deliver consistent results, but management is using that experience to redesign the next wave of programs. There is also a BET inhibitor program on pause while the company reassesses strategy, which reflects a willingness to pivot rather than push marginal assets. Overall, R&D is focused, technically sophisticated, and clearly high risk–high reward, as is typical in oncology biotech.

Summary

Nuvation Bio today is a classic clinical-stage oncology company: minimal revenue, recurring losses, and a balance sheet built around cash from prior financings. The financials show a controlled but persistent cash burn, with assets gradually stepping down as the pipeline advances. The investment case around the business hinges almost entirely on the success of a few key programs—especially taletrectinib’s commercial rollout and safusidenib’s late-stage development—plus whether the reworked drug-drug conjugate platform can eventually produce a winner. The leadership team has deep oncology experience and is targeting clear unmet needs, which is a strength, but the company faces intense competition, clinical and regulatory uncertainty, and the need to periodically refresh its cash resources. Overall, this is a high-risk, innovation-driven biotech that remains in the validation phase both clinically and commercially.