Nuvation Bio
Develops cancer medicines led by IBTROZI and a focused oncology pipeline.
Something off on this page? Send us feedback.
Profile
Sells IBTROZI in the US for ROS1-positive lung cancer while advancing safusidenib in IDH1-mutant glioma and a DDC program. The business shifted after the AnHeart acquisition and currently depends on U.S. IBTROZI sales, collaboration and licensing economics, and continued oncology trial execution.
Develops and commercializes oncology medicines, with IBTROZI / taletrectinib as the commercial anchor for ROS1-positive non-small cell lung cancer. The current portfolio also includes safusidenib in IDH1-mutant glioma and an earlier drug-drug conjugate program.
Moved into commercial-stage oncology through the AnHeart acquisition, then launched IBTROZI in the United States after FDA approval. Collaboration, supply, royalty, and licensing economics extend the taletrectinib business outside the U.S.
Execution depends on IBTROZI adoption, continued clinical progress for safusidenib, regulatory outcomes, safety data, and launch financing. Product revenue is currently concentrated in U.S. IBTROZI sales.
Company facts
Key statistics
Year to date −22.4% · Average volume (30d) 5.9M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 21, 2026 | Cantor Fitzgerald | Initiate | Overweight | ||
| Aug 7, 2026 | RBC Capital | Reiterate | Outperform | $19 | $20 |
| Jul 27, 2026 | H.C. Wainwright | Reiterate | Buy | $17 | $21 |
| Jul 7, 2026 | RBC Capital | Reiterate | Outperform | $12 | $19 |
| Jan 27, 2026 | Truist Financial | Target | $11 | $13 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | −$0.14 | −$0.15 | −5.9% | $27.0M | $31.7M | +17.2% | −4.08% |
| May 4, 2026Q1 FY26 | $0.12 | $0.01 | −91.7% | $66.2M | $83.2M | +25.7% | +9.52% |
| Mar 2, 2026Q4 FY25 | −$0.11 | −$0.11 | 0.0% | $37.8M | $41.9M | +10.7% | −25.34% |
| Nov 3, 2025Q3 FY25 | −$0.17 | −$0.16 | +5.9% | $36.8M | $13.1M | −64.4% | −6.58% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $3.1M | $4.8M | $13.1M | $41.9M | $83.2M | $31.7M | |
| Gross profit | $990.0K | $2.3M | $9.8M | $41.4M | $77.6M | $30.8M | |
| Operating income | −$59.0M | −$63.6M | −$56.4M | −$34.0M | $3.9M | −$51.0M | |
| Net income | −$53.2M | −$59.0M | −$55.8M | −$36.6M | $5.4M | −$62.8M | |
| Diluted EPS | −$0.16 | −$0.17 | −$0.16 | −$0.11 | $0.01 | −$0.18 | |
| Gross margin | 32.1% | 46.7% | 74.5% | 99.0% | 93.3% | 97.1% | |
| Operating margin | -1,913.2% | -1,315.7% | -430.1% | -81.3% | 4.7% | -161.1% |
Fiscal years (4-quarter sums)FY21 $0 · FY22 $0 · FY23 $0 · FY24 $7.9M · FY25 $62.9M
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $661.0M · Total debt $252.1M · Total assets $744.5M · Shareholders' equity $253.9M
Dividends
No dividends on record.
Ownership
Shares outstanding 347.20M · Float 253.59M · 73.0% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| David Hung · director, 10 percent owner, officer: PRESIDENT AND CEO | 59.28M | 17.07% | Form 4 | Jun 18, 2025 |
| FMR LLC | 52.23M | 15.04% | 13F | Aug 13, 2026 |
| BlackRock, Inc. | 27.63M | 7.96% | 13F | Aug 7, 2026 |
| Xiangmin Cui | 26.60M | 8.00% | 13D | Sep 10, 2024 |
| Decheng Capital LLC | 25.95M | 7.48% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 19, 2026 | Gary Hattersley | officer: CHIEF SCIENTIFIC OFFICER | −100,000 | $7.09 |
| Jun 23, 2026 | Philippe Sauvage | officer: Chief Financial Officer | −47,668 | $6.01 |
| Jun 23, 2026 | Kerry Wentworth | officer: CHIEF REGULATORY OFFICER | −63,000 | $6.02 |
| Jun 23, 2026 | Stacy Markel | officer: CHIEF PEOPLE OFFICER | −125,000 | $6.03 |
| Jun 9, 2026 | Robert Mashal | director | +25,000 | $4.73 |
Peers
- Bristol-Myers Squibb
Approved next-generation ROS1 therapy in the same NSCLC setting
- Pfizer
First-generation ROS1 standard with long-standing FDA approval
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Nuvation Bio | $6.65 | −0.15% | $2.31B | — | — | 13.6 | +555.6% |
| Bristol-Myers Squibb | $66.60 | +0.05% | $136.00B | 14.7 | 10.5 | 2.8 | +5.7% |
| Pfizer | $27.95 | −0.04% | $159.36B | 36.9 | 10.0 | 2.5 | +2.6% |
| Median | 25.8 | 10.2 | 2.6 | +4.2% |