Nuvation Bio (NUVB) Financials

$4.85 +0.46 (+10.48%)

Closing price 03:59 PM Eastern

Extended Trading

$4.86 +0.01 (+0.10%)

As of 07:59 PM Eastern

Annual Income Statements for Nuvation Bio

This table shows Nuvation Bio's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	-42	-87	-104	-76	-568
Consolidated Net Income / (Loss)	-42	-87	-104	-76	-568
Net Income / (Loss) Continuing Operations	-42	-87	-104	-76	-568
Total Pre-Tax Income	-42	-87	-104	-76	-568
Total Operating Income	-44	-93	-120	-100	-593
Total Gross Profit	0.00	0.00	0.00	0.00	0.80
Total Revenue	0.00	0.00	0.00	0.00	7.87
Operating Revenue	-	-	-	0.00	7.87
Total Cost of Revenue	0.00	0.00	0.00	0.00	7.08
Operating Cost of Revenue	-	-	-	0.00	7.08
Total Operating Expenses	44	93	120	100	593
Selling, General & Admin Expense	11	24	32	29	69
Research & Development Expense	33	69	88	71	524
Total Other Income / (Expense), net	1.89	6.47	16	24	25
Interest Expense	-	-	-	0.00	0.34
Interest & Investment Income	2.16	2.88	6.22	25	27
Other Income / (Expense), net	-0.27	3.59	9.32	-0.45	-1.91
Income Tax Expense	0.00	0.00	0.00	0.00	0.00
Basic Earnings per Share	($0.43)	($0.44)	($0.48)	($0.35)	($2.11)
Weighted Average Basic Shares Outstanding	97.53M	197.89M	216.72M	218.88M	268.77M
Diluted Earnings per Share	($0.43)	($0.44)	($0.48)	($0.35)	($2.11)
Weighted Average Diluted Shares Outstanding	97.53M	197.89M	216.72M	218.88M	268.77M
Weighted Average Basic & Diluted Shares Outstanding	97.53M	219.06M	218.80M	219.05M	338.68M

This table shows Nuvation Bio's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-27	-21	-22	-21	-19	-15	-15	-462	-39	-52	-53
Consolidated Net Income / (Loss)	-27	-21	-22	-21	-20	-14	-15	-462	-41	-49	-53
Net Income / (Loss) Continuing Operations	-27	-21	-22	-21	-20	-14	-15	-462	-41	-49	-53
Total Pre-Tax Income	-27	-21	-22	-21	-20	-14	-15	-462	-41	-49	-53
Total Operating Income	-29	-24	-27	-26	-26	-21	-20	-470	-48	-54	-59
Total Gross Profit	0.00	-	0.00	0.00	0.00	-	0.00	0.09	-0.79	1.50	0.99
Total Revenue	0.00	-	0.00	0.00	0.00	-	0.00	1.44	0.73	5.71	3.08
Operating Revenue	-	-	-	-	0.00	-	0.00	1.44	0.73	-	3.08
Total Cost of Revenue	0.00	-	0.00	0.00	0.00	-	0.00	1.35	1.52	4.22	2.09
Operating Cost of Revenue	-	-	-	0.00	0.00	-	0.00	1.35	1.52	-	2.09
Total Operating Expenses	29	24	27	26	26	21	20	471	47	55	60
Selling, General & Admin Expense	8.04	7.46	7.73	7.54	7.78	5.48	7.36	16	20	26	35
Research & Development Expense	21	17	19	19	19	15	13	454	28	29	25
Total Other Income / (Expense), net	2.14	3.49	4.80	5.49	6.69	7.04	5.41	7.89	6.89	4.50	5.77
Interest Expense	-	-	-	0.00	0.00	-	0.00	0.13	0.12	-	0.05
Interest & Investment Income	1.94	3.39	5.08	6.09	6.52	6.93	7.13	7.14	6.73	6.07	5.32
Other Income / (Expense), net	0.20	0.10	-0.09	-0.50	0.16	-0.02	-1.72	1.14	0.30	-1.62	0.50
Income Tax Expense	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Basic Earnings per Share	($0.12)	($0.10)	($0.10)	($0.09)	($0.09)	($0.07)	($0.07)	($1.89)	($0.15)	-	($0.16)
Weighted Average Basic Shares Outstanding	218.30M	216.72M	218.74M	218.85M	218.94M	218.88M	219.05M	244.74M	273.57M	268.77M	338.61M
Diluted Earnings per Share	($0.12)	($0.10)	($0.10)	($0.09)	($0.09)	($0.07)	($0.07)	($1.89)	($0.15)	-	($0.16)
Weighted Average Diluted Shares Outstanding	218.30M	216.72M	218.74M	218.85M	218.94M	218.88M	219.05M	244.74M	273.57M	268.77M	338.61M
Weighted Average Basic & Diluted Shares Outstanding	218.39M	218.80M	218.80M	218.94M	218.94M	219.05M	247.17M	249.25M	336.57M	338.68M	340.26M

This table details how cash moves in and out of Nuvation Bio's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-108	103	-31	-58	-6.93
Net Cash From Operating Activities	-37	-68	-96	-68	-130
Net Cash From Continuing Operating Activities	-173	-63	-96	-68	-130
Net Income / (Loss) Continuing Operations	-42	-87	-104	-76	-568
Consolidated Net Income / (Loss)	-42	-87	-104	-76	-568
Depreciation Expense	0.10	0.18	0.20	0.22	0.68
Amortization Expense	-	4.59	3.67	-12	-9.00
Non-Cash Adjustments To Reconcile Net Income	-134	7.14	8.51	18	458
Changes in Operating Assets and Liabilities, net	2.37	12	-4.28	1.76	-13
Net Cash From Investing Activities	-70	-455	63	8.92	123
Net Cash From Continuing Investing Activities	-70	-455	63	8.92	123
Purchase of Property, Plant & Equipment	-0.15	-0.28	-0.37	-0.07	-0.16
Acquisitions	-	-	-	0.00	-7.43
Purchase of Investments	-143	-609	-520	-703	-340
Sale of Property, Plant & Equipment	-	0.00	0.01	0.01	0.00
Divestitures	-	-	-	0.00	20
Sale and/or Maturity of Investments	73	155	584	712	450
Net Cash From Financing Activities	133	626	1.33	0.63	0.33
Net Cash From Continuing Financing Activities	136	626	1.33	0.63	0.33
Repayment of Debt	-	-	-	0.00	-17
Issuance of Debt	136	-	-	0.00	13
Issuance of Common Equity	0.00	0.31	0.39	0.25	0.43
Other Financing Activities, net	0.00	625	0.94	0.38	4.46
Effect of Exchange Rate Changes	-	-	-	0.00	0.45
Cash Interest Paid	-	-	-	0.00	0.34
Cash Income Taxes Paid	-	-	-	0.00	0.37

This table details how cash moves in and out of Nuvation Bio's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	36	-38	-71	20	-26	18	-8.14	-0.23	-4.25	5.69	12
Net Cash From Operating Activities	-28	-16	-19	-17	-16	-15	-16	-37	-31	-46	-43
Net Cash From Continuing Operating Activities	-28	-16	-19	-17	-16	-15	-16	-37	-31	-46	-43
Net Income / (Loss) Continuing Operations	-27	-21	-22	-21	-20	-14	-15	-462	-41	-49	-53
Consolidated Net Income / (Loss)	-27	-21	-22	-21	-20	-14	-15	-462	-41	-49	-53
Depreciation Expense	0.06	0.05	0.06	0.06	0.06	0.06	0.06	0.24	0.16	0.22	0.31
Amortization Expense	0.59	-0.43	-2.15	-3.22	-3.43	-3.26	-2.82	-2.42	-2.10	-1.65	-1.47
Non-Cash Adjustments To Reconcile Net Income	3.18	4.74	5.00	5.35	4.80	2.73	5.88	434	6.85	12	7.53
Changes in Operating Assets and Liabilities, net	-4.72	0.32	-0.51	0.97	2.07	-0.77	-4.03	-6.51	5.22	-7.31	4.24
Net Cash From Investing Activities	106	-22	-52	37	-9.59	33	7.54	34	29	52	54
Net Cash From Continuing Investing Activities	64	-22	-52	37	-9.59	33	7.54	34	29	52	54
Purchase of Property, Plant & Equipment	-0.10	-0.07	-0.01	-0.02	-0.02	-0.01	-0.03	-	-0.15	0.01	-0.07
Purchase of Investments	-120	-138	-237	-207	-111	-149	-128	-94	-86	-32	-61
Sale and/or Maturity of Investments	184	116	185	244	101	182	136	115	115	84	115
Net Cash From Financing Activities	0.26	0.41	0.30	0.13	0.08	0.12	0.02	2.75	-1.54	-0.90	0.55
Net Cash From Continuing Financing Activities	0.26	0.41	0.30	0.13	0.08	0.12	0.02	2.75	-1.54	-0.90	0.55
Repayment of Debt	-	-	-	-	-	-	0.00	-	-3.21	-7.63	-0.53
Other Financing Activities, net	0.26	0.31	0.30	-	0.08	-	0.02	1.93	1.67	0.84	1.08
Effect of Exchange Rate Changes	-	-	-	-	-	-	0.00	-	-0.74	1.12	0.15

This table presents Nuvation Bio's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	222	776	672	621	541
Total Current Assets	221	772	667	616	526
Cash & Equivalents	30	132	101	43	36
Short-Term Investments	187	636	562	572	467
Accounts Receivable	-	-	-	0.00	13
Inventories, net	-	-	-	-	0.00
Prepaid Expenses	0.91	3.64	3.82	1.52	7.27
Plant, Property, & Equipment, net	0.69	0.79	0.89	0.72	0.59
Total Noncurrent Assets	0.42	3.29	3.93	4.33	14
Intangible Assets	-	-	-	0.00	4.62
Other Noncurrent Operating Assets	0.42	3.29	3.93	4.33	9.16
Total Liabilities & Shareholders' Equity	222	776	672	621	541
Total Liabilities	6.71	30	17	16	77
Total Current Liabilities	6.55	17	13	14	58
Short-Term Debt	-	-	-	0.00	6.28
Accounts Payable	2.17	3.93	2.14	2.21	6.35
Accrued Expenses	4.38	12	9.82	9.79	33
Current Deferred Revenue	-	-	-	0.00	11
Other Current Liabilities	-	0.86	1.21	1.97	1.66
Total Noncurrent Liabilities	0.16	13	3.90	2.39	19
Noncurrent Deferred Revenue	0.16	-	-	0.00	16
Other Noncurrent Operating Liabilities	0.00	13	3.90	2.39	3.02
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	215	746	655	605	464
Total Preferred & Common Equity	215	746	655	605	464
Total Common Equity	215	746	655	605	464
Common Stock	289	910	928	948	1,374
Retained Earnings	-76	-163	-267	-343	-911
Accumulated Other Comprehensive Income / (Loss)	1.56	-1.19	-5.53	0.18	0.57

This table presents Nuvation Bio's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025
Total Assets	686	657	641	631	613	595	572	492
Total Current Assets	681	653	637	625	608	587	565	476
Cash & Equivalents	139	30	50	24	35	34	30	48
Short-Term Investments	538	619	584	598	567	547	519	419
Accounts Receivable	-	-	-	-	-	0.12	0.11	0.41
Inventories, net	-	-	-	-	-	-	-	0.01
Prepaid Expenses	5.09	3.68	3.53	2.98	6.80	5.99	12	8.42
Plant, Property, & Equipment, net	0.90	0.84	0.80	0.76	0.69	0.75	0.72	0.56
Total Noncurrent Assets	4.20	3.66	3.38	4.76	4.38	6.87	5.73	16
Intangible Assets	-	-	-	-	-	2.93	2.78	4.41
Other Noncurrent Operating Assets	4.20	3.66	3.38	4.76	4.38	3.94	2.95	12
Total Liabilities & Shareholders' Equity	686	657	641	631	613	595	572	492
Total Liabilities	19	16	17	19	19	63	69	73
Total Current Liabilities	14	13	13	16	16	51	59	53
Short-Term Debt	-	-	-	-	-	12	8.43	5.69
Accounts Payable	3.00	2.95	2.58	2.37	2.44	5.21	12	11
Accrued Expenses	9.92	8.36	9.55	12	11	20	24	24
Current Deferred Revenue	-	-	-	-	-	12	13	11
Other Current Liabilities	1.10	1.24	1.28	1.92	2.02	2.08	1.78	1.89
Total Noncurrent Liabilities	4.54	3.44	3.37	3.14	3.32	12	9.83	20
Noncurrent Deferred Revenue	-	-	-	-	-	9.16	7.94	14
Other Noncurrent Operating Liabilities	4.54	3.44	3.37	3.14	3.32	2.41	1.89	6.64
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	668	641	625	612	594	532	503	419
Total Preferred & Common Equity	668	641	625	612	594	257	503	419
Total Common Equity	668	641	625	612	594	257	503	419
Common Stock	922	933	938	944	953	1,079	1,363	1,383
Retained Earnings	-246	-289	-309	-329	-358	-820	-861	-964
Accumulated Other Comprehensive Income / (Loss)	-8.12	-2.94	-4.40	-3.30	-1.17	-1.27	1.38	0.55

This table displays calculated financial ratios and metrics derived from Nuvation Bio's official financial filings.

Metric	2020	2021	2022	2023	2024
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-
Revenue Growth	0.00%	0.00%	0.00%	0.00%	0.00%
EBITDA Growth	0.00%	-94.32%	-25.42%	-5.22%	-437.74%
EBIT Growth	0.00%	-104.76%	-23.06%	9.19%	-492.91%
NOPAT Growth	0.00%	-114.27%	-28.31%	16.63%	-493.68%
Net Income Growth	0.00%	-108.47%	-19.98%	27.25%	-649.24%
EPS Growth	0.00%	-2.33%	-9.09%	27.08%	-502.86%
Operating Cash Flow Growth	0.00%	-86.67%	-40.94%	29.25%	-91.79%
Free Cash Flow Firm Growth	0.00%	0.00%	-119.10%	29.97%	-467.02%
Invested Capital Growth	0.00%	-1,174.66%	62.45%	-16.27%	-269.56%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	0.00%	264.15%
EBITDA Q/Q Growth	0.00%	-6.93%	-0.34%	0.50%	-5.78%
EBIT Q/Q Growth	0.00%	-12.71%	1.48%	3.26%	-6.20%
NOPAT Q/Q Growth	0.00%	-20.53%	4.22%	3.39%	-5.92%
Net Income Q/Q Growth	0.00%	-15.81%	3.95%	8.52%	-6.70%
EPS Q/Q Growth	0.00%	-2.33%	4.00%	7.89%	3.21%
Operating Cash Flow Q/Q Growth	0.00%	-18.29%	7.07%	1.65%	-31.54%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	5.37%	2.00%	-7.85%
Invested Capital Q/Q Growth	0.00%	7.42%	-0.75%	9.19%	14.40%
Profitability Metrics	-	-	-	-	-
Gross Margin	0.00%	0.00%	0.00%	0.00%	10.10%
EBITDA Margin	0.00%	0.00%	0.00%	0.00%	-7,657.26%
Operating Margin	0.00%	0.00%	0.00%	0.00%	-7,527.33%
EBIT Margin	0.00%	0.00%	0.00%	0.00%	-7,551.62%
Profit (Net Income) Margin	0.00%	0.00%	0.00%	0.00%	-7,213.76%
Tax Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%
Interest Burden Percent	95.06%	96.79%	94.37%	75.59%	95.53%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	-19.37%	-18.07%	-14.87%	-12.03%	-106.27%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	0.00%	0.00%	0.00%	0.00%	-102.32%
Return on Assets (ROA)	0.00%	0.00%	0.00%	0.00%	-97.74%
Return on Common Equity (ROCE)	-19.37%	-18.07%	-14.87%	-12.03%	-106.27%
Return on Equity Simple (ROE_SIMPLE)	-19.37%	-11.64%	-15.91%	-12.53%	-122.46%
Net Operating Profit after Tax (NOPAT)	-30	-65	-84	-70	-415
NOPAT Margin	0.00%	0.00%	0.00%	0.00%	-5,269.13%
Net Nonoperating Expense Percent (NNEP)	-5.15%	-4.37%	-2.85%	-0.93%	-27.46%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-11.55%	-88.25%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	89.90%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	879.37%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	6,658.06%
Operating Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	7,537.43%
Earnings before Interest and Taxes (EBIT)	-44	-90	-110	-100	-595
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-44	-85	-107	-112	-603
Valuation Ratios	-	-	-	-	-
Price to Book Value (P/BV)	1.00	2.48	0.64	0.55	1.93
Price to Tangible Book Value (P/TBV)	1.00	2.48	0.64	0.55	1.95
Price to Revenue (P/Rev)	0.00	0.00	0.00	0.00	113.71
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	0.00	50.21
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.01
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-1.01	-1.03	-1.02	-1.01	-1.04
Leverage Ratio	1.03	1.04	1.03	1.03	1.09
Compound Leverage Factor	0.98	1.01	0.98	0.78	1.04
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	1.34%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	1.34%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	98.66%
Debt to EBITDA	0.00	0.00	0.00	0.00	-0.01
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.83
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	-0.02
Net Debt to NOPAT	0.00	0.00	0.00	0.00	1.21
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	19.34	37.33	14.81	11.98	2.06
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-
Current Ratio	33.69	45.62	50.70	44.11	9.04
Quick Ratio	33.10	45.40	50.41	44.00	8.91
Cash Flow Metrics	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-45	-98	-69	-388
Operating Cash Flow to CapEx	-25,192.41%	-24,180.85%	-26,921.01%	-123,634.55%	-80,501.85%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	-1,139.12
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	-382.44
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	-382.92
Efficiency Ratios	-	-	-	-	-
Asset Turnover	0.00	0.00	0.00	0.00	0.01
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	0.00	0.00	12.08
Accounts Payable Turnover	0.00	0.00	0.00	0.00	1.65
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	220.63
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	0.00	-220.63
Capital & Investment Metrics	-	-	-	-	-
Invested Capital	-1.76	-22	-8.42	-9.79	-36
Invested Capital Turnover	0.00	0.00	0.00	0.00	-0.34
Increase / (Decrease) in Invested Capital	0.00	-21	14	-1.37	-26
Enterprise Value (EV)	-0.91	1,083	-244	-284	395
Market Capitalization	216	1,851	419	331	895
Book Value per Share	$11.65	$3.43	$3.00	$2.76	$1.38
Tangible Book Value per Share	$11.65	$3.43	$3.00	$2.76	$1.36
Total Capital	215	746	655	605	470
Total Debt	0.00	0.00	0.00	0.00	6.28
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00
Net Debt	-217	-768	-663	-615	-500
Capital Expenditures (CapEx)	0.15	0.28	0.36	0.06	0.16
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-2.71	-13	-9.34	-12	-32
Debt-free Net Working Capital (DFNWC)	214	755	654	602	474
Net Working Capital (NWC)	214	755	654	602	468
Net Nonoperating Expense (NNE)	11	22	20	5.93	153
Net Nonoperating Obligations (NNO)	-217	-768	-663	-615	-500
Total Depreciation and Amortization (D&A)	0.10	4.78	3.87	-12	-8.32
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	-406.05%
Debt-free Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	6,024.31%
Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	5,944.51%
Earnings Adjustments	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	($0.44)	($0.48)	($0.35)	($2.11)
Adjusted Weighted Average Basic Shares Outstanding	0.00	219.06M	216.72M	218.88M	268.77M
Adjusted Diluted Earnings per Share	$0.00	($0.44)	($0.48)	($0.35)	($2.11)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	219.06M	216.72M	218.88M	268.77M
Adjusted Basic & Diluted Earnings per Share	$0.00	($0.44)	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	219.06M	218.80M	219.05M	338.68M
Normalized Net Operating Profit after Tax (NOPAT)	-30	-65	-84	-70	-415
Normalized NOPAT Margin	0.00%	0.00%	0.00%	0.00%	-5,269.13%
Pre Tax Income Margin	0.00%	0.00%	0.00%	0.00%	-7,213.76%
Debt Service Ratios	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	-1,743.52
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	-1,216.54
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	-1,743.99
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	-1,217.01
Payout Ratios	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Nuvation Bio's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EBITDA Growth	-32.45%	-1.50%	-41.94%	10.32%	-3.75%	2.27%	13.99%	-1,482.40%	-68.29%	-136.91%	-141.73%
EBIT Growth	-27.60%	6.42%	-20.75%	23.93%	10.14%	13.96%	17.61%	-1,662.31%	-82.57%	-166.43%	-166.87%
NOPAT Growth	-28.73%	17.82%	5.93%	31.00%	10.22%	14.40%	23.84%	-1,700.10%	-82.62%	-158.95%	-192.11%
Net Income Growth	-23.77%	17.06%	-2.03%	40.79%	27.77%	33.86%	31.92%	-2,140.76%	-109.73%	-258.63%	-259.90%
EPS Growth	-9.09%	16.67%	0.00%	43.75%	25.00%	30.00%	30.00%	-2,000.00%	-66.67%	0.00%	-128.57%
Operating Cash Flow Growth	-113.66%	31.14%	22.46%	35.04%	42.49%	7.05%	18.77%	-113.46%	-92.42%	-208.08%	-171.48%
Free Cash Flow Firm Growth	-124.04%	-59,259.08%	-21.81%	31.04%	56.02%	57.44%	46.21%	-1,231.14%	86.41%	14.01%	52.92%
Invested Capital Growth	65.50%	62.45%	53.05%	32.29%	-29.00%	-16.27%	7.58%	-311.55%	-292.05%	-269.56%	-476.20%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-49.34%	685.56%	-46.00%
EBITDA Q/Q Growth	14.24%	13.60%	-16.59%	-3.80%	0.78%	18.61%	-2.61%	-1,809.78%	89.45%	-14.58%	-4.69%
EBIT Q/Q Growth	16.76%	16.82%	-9.78%	-0.07%	1.66%	20.36%	-5.13%	-2,040.45%	89.81%	-16.22%	-5.30%
NOPAT Q/Q Growth	22.53%	17.06%	-8.99%	1.47%	-0.80%	20.91%	3.03%	-2,228.75%	89.77%	-12.14%	-9.38%
Net Income Q/Q Growth	21.96%	23.37%	-4.23%	5.00%	4.80%	29.83%	-7.29%	-3,026.64%	91.09%	-19.98%	-7.67%
EPS Q/Q Growth	25.00%	16.67%	0.00%	10.00%	0.00%	22.22%	0.00%	-2,600.00%	92.06%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	-4.36%	42.44%	-19.55%	9.54%	7.61%	6.97%	-4.48%	-137.70%	16.72%	-48.95%	7.94%
Free Cash Flow Firm Q/Q Growth	-11.03%	14.73%	11.78%	17.43%	29.19%	17.50%	-11.50%	-1,943.50%	99.28%	-422.20%	38.95%
Invested Capital Q/Q Growth	37.55%	-0.75%	7.29%	-16.06%	-18.99%	9.19%	26.30%	-416.82%	-13.35%	14.40%	-14.90%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	6.13%	-108.39%	26.18%	32.10%
EBITDA Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-32,852.26%	-6,842.50%	-998.00%	-1,934.82%
Operating Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-32,779.44%	-6,616.37%	-944.53%	-1,913.23%
EBIT Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-32,700.35%	-6,575.65%	-972.88%	-1,897.08%
Profit (Net Income) Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-32,229.41%	-5,668.50%	-865.79%	-1,726.20%
Tax Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Interest Burden Percent	93.36%	86.00%	81.65%	77.52%	75.04%	66.11%	67.47%	98.56%	86.20%	88.99%	90.99%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	-12.67%	-14.87%	-15.33%	-13.72%	-12.95%	-12.03%	-11.15%	-88.30%	-95.54%	-106.27%	-119.66%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-75.92%	-23.65%	-13.18%	-37.60%
Return on Assets (ROA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-74.82%	-20.38%	-11.73%	-34.21%
Return on Common Equity (ROCE)	-12.67%	-14.87%	-15.33%	-13.72%	-12.95%	-12.03%	-11.15%	-67.31%	-95.54%	-106.27%	-119.66%
Return on Equity Simple (ROE_SIMPLE)	-16.24%	0.00%	-16.32%	-14.47%	-13.55%	0.00%	-11.59%	-198.57%	-105.88%	0.00%	-144.56%
Net Operating Profit after Tax (NOPAT)	-21	-17	-19	-18	-18	-15	-14	-329	-34	-38	-41
NOPAT Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-22,945.61%	-4,631.46%	-661.17%	-1,339.26%
Net Nonoperating Expense Percent (NNEP)	-0.76%	-0.53%	-0.46%	-0.35%	-0.19%	0.12%	-0.10%	-22.15%	-1.29%	-2.10%	-2.25%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-2.41%	-	-	-	-8.03%	-9.72%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	93.87%	208.39%	73.82%	67.90%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1,143.07%	2,693.54%	453.35%	1,147.63%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	31,659.72%	3,814.44%	513.03%	797.70%
Operating Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	32,802.79%	6,507.98%	966.38%	1,945.33%
Earnings before Interest and Taxes (EBIT)	-29	-24	-27	-27	-26	-21	-22	-469	-48	-56	-59
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-28	-25	-29	-30	-30	-24	-25	-471	-50	-57	-60
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.73	0.64	0.57	0.63	0.48	0.55	1.34	2.81	1.14	1.93	1.42
Price to Tangible Book Value (P/TBV)	0.73	0.64	0.57	0.63	0.48	0.55	1.34	2.84	1.14	1.95	1.44
Price to Revenue (P/Rev)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	502.95	264.00	113.71	54.40
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	297.73	13.90	50.21	12.32
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.02	0.02	0.01	0.01
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-1.02	-1.02	-1.02	-1.02	-1.02	-1.01	-1.01	-1.04	-1.05	-1.04	-1.05
Leverage Ratio	0.87	1.03	1.03	1.03	1.03	1.03	1.03	1.07	1.08	1.09	1.09
Compound Leverage Factor	0.81	0.89	0.84	0.80	0.77	0.68	0.69	1.05	0.93	0.97	0.99
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.14%	1.65%	1.34%	1.34%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.14%	1.65%	1.34%	1.34%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	50.56%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	47.30%	98.35%	98.66%	98.66%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.02	-0.01	-0.01	-0.01
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.04	0.95	0.83	0.72
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.03	-0.02	-0.02	-0.01
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.51	1.38	1.21	1.04
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	16.33	15.24	14.05	14.44	9.42	12.40	25.29	3.46	3.65	5.35	2.82
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	23.77%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	48.63	50.70	51.99	47.51	38.74	44.11	38.58	11.49	9.57	9.04	9.01
Quick Ratio	48.27	50.41	51.70	47.24	38.55	44.00	38.15	11.37	9.30	8.91	8.85
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-36	-31	-27	-23	-16	-13	-15	-301	-2.18	-11	-6.94
Operating Cash Flow to CapEx	-27,273.79%	-27,405.08%	-161,083.33%	-79,477.27%	-73,431.82%	-115,607.69%	-58,155.56%	0.00%	-21,003.38%	0.00%	-59,204.17%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-2,280.56	-18.13	0.00	-128.44
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-282.76	-259.04	0.00	-789.39
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-282.76	-260.28	0.00	-790.72
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.02
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.85	2.92	12.08	17.56
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.35	0.39	1.65	1.41
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1,055.17	940.75	220.63	258.13
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-1,055.17	-940.75	-220.63	-258.13
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-8.36	-8.42	-7.81	-9.06	-11	-9.79	-7.22	-37	-42	-36	-42
Invested Capital Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.06	-0.08	-0.34	-0.45
Increase / (Decrease) in Invested Capital	16	14	8.82	4.32	-2.42	-1.37	0.59	-28	-31	-26	-34
Enterprise Value (EV)	-187	-244	-286	-240	-329	-284	196	427	30	395	135
Market Capitalization	489	419	363	394	293	331	797	722	571	895	596
Book Value per Share	$3.06	$3.00	$2.93	$2.85	$2.79	$2.76	$2.71	$1.04	$2.02	$1.38	$1.24
Tangible Book Value per Share	$3.06	$3.00	$2.93	$2.85	$2.79	$2.76	$2.71	$1.03	$2.01	$1.36	$1.23
Total Capital	668	655	641	625	612	605	594	544	511	470	425
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	12	8.43	6.28	5.69
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-676	-663	-649	-634	-622	-615	-601	-569	-541	-500	-461
Capital Expenditures (CapEx)	0.10	0.06	0.01	0.02	0.02	0.01	0.03	0.00	0.15	-0.01	0.07
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-8.92	-9.34	-8.87	-9.88	-13	-12	-8.97	-33	-35	-32	-38
Debt-free Net Working Capital (DFNWC)	667	654	640	624	609	602	592	548	514	474	428
Net Working Capital (NWC)	667	654	640	624	609	602	592	536	506	468	423
Net Nonoperating Expense (NNE)	6.67	3.81	3.16	2.35	1.21	-0.79	0.65	133	7.54	12	12
Net Nonoperating Obligations (NNO)	-676	-663	-649	-634	-622	-615	-601	-569	-545	-500	-461
Total Depreciation and Amortization (D&A)	0.65	-0.38	-2.09	-3.17	-3.38	-3.20	-2.76	-2.18	-1.94	-1.44	-1.16
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-2,324.25%	-1,607.72%	-406.05%	-349.08%
Debt-free Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	38,168.01%	23,791.67%	6,024.31%	3,910.56%
Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	37,357.28%	23,401.94%	5,944.51%	3,858.67%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.12)	($0.10)	($0.10)	($0.09)	($0.09)	($0.07)	($0.07)	($1.89)	($0.15)	$0.00	($0.16)
Adjusted Weighted Average Basic Shares Outstanding	218.30M	216.72M	218.74M	218.85M	218.94M	218.88M	219.05M	244.74M	273.57M	268.77M	338.61M
Adjusted Diluted Earnings per Share	($0.12)	($0.10)	($0.10)	($0.09)	($0.09)	($0.07)	($0.07)	($1.89)	($0.15)	$0.00	($0.16)
Adjusted Weighted Average Diluted Shares Outstanding	218.30M	216.72M	218.74M	218.85M	218.94M	218.88M	219.05M	244.74M	273.57M	268.77M	338.61M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	218.39M	218.80M	218.80M	218.94M	218.94M	219.05M	247.17M	249.25M	336.57M	338.68M	340.26M
Normalized Net Operating Profit after Tax (NOPAT)	-21	-17	-19	-18	-18	-15	-14	-329	-34	-38	-41
Normalized NOPAT Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-22,945.61%	-4,631.46%	-661.17%	-1,339.26%
Pre Tax Income Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-32,229.41%	-5,668.50%	-865.79%	-1,726.20%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-3,554.92	-398.38	0.00	-1,083.44
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-2,494.47	-280.59	0.00	-764.87
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-3,554.92	-399.61	0.00	-1,084.78
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-2,494.47	-281.82	0.00	-766.20
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Nuvation Bio (NYSE: NUVB) has demonstrated ongoing operational challenges and significant net losses over the past several quarters, reflecting its status as a biopharmaceutical company likely still in development phases with no positive operating income.

Key Positive Financial Highlights:

Strong cash and short-term investment position: As of Q1 2025, NUVB held $47.98 million in cash & equivalents and $418.75 million in short-term investments, providing ample liquidity.
Consistent investment income: Interest and investment income contributed around $5.3M - $7.1M quarterly in recent periods, offsetting some losses.
Substantial net cash provided by investing activities: There has been routine sale/maturity of investments exceeding purchases, adding positive cash inflows (e.g., $54.2M net inflow in Q1 2025).

Neutral Financial Observations:

Revenue remains very low and inconsistent, reflecting typical biotech development-stage firms with minimal or no product sales: for instance, $3.1M total revenue in Q1 2025 but near zero or low revenue in prior quarters.
Weighted average shares outstanding have increased over time, rising from approximately 218M in early 2023 to around 339M in early 2025, reflecting equity dilution which may affect per-share metrics.
Total liabilities have roughly increased from about $19M in early 2023 to $73M by Q1 2025, reflecting growth in liabilities but still moderate relative to assets.
Total assets declined from over $650M in early 2023 to about $492M in Q1 2025, mainly due to decreasing short-term investments and cash balances.

Negative Financial Trends and Risks:

Sustained net losses: NUVB has consistently reported large net losses each quarter, with Q1 2025 net loss at $53.2 million, and prior quarters also showing substantial losses ranging from $13M to over $460M.
High operating expenses: Operating expenses remain very elevated, for example $59.9 million in Q1 2025, driven by high R&D expenses (~$24.6M for Q1 2025) and selling/general admin costs.
Negative operating income: The company has had negative operating income for every quarter reported here, indicating ongoing cash burn from operations without profitability.
Declining cash from operations: Net cash used in operating activities remains consistently high and negative (e.g., -$42.6M in Q1 2025), indicating ongoing operating cash burn.
Dilution impact on earnings per share: EPS remains negative and trending down, with Q1 2025 diluted EPS at -$0.16 compared to about -$0.07 to -$0.10 in 2023, highlighting worsening loss per share notwithstanding increased shares.

Summary: Nuvation Bio continues to operate as a clinical-stage biotech company investing heavily in research and development with minimal revenue generation. Strong cash and investments provide runway but net losses and cash burn remain significant. Investors should be mindful of ongoing dilution and lack of profitability in the near term, while monitoring for potential clinical or regulatory milestones that could drive future value.

10/24/25 09:38 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Nuvation Bio's Financials

When does Nuvation Bio's fiscal year end?

According to the most recent income statement we have on file, Nuvation Bio's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Nuvation Bio's net income changed over the last 4 years?

Nuvation Bio's net income appears to be on an upward trend, with a most recent value of -$567.94 million in 2024, rising from -$41.66 million in 2020. The previous period was -$75.80 million in 2023. Find out what analysts predict for Nuvation Bio in the coming months.

What is Nuvation Bio's operating income?

Nuvation Bio's total operating income in 2024 was -$592.63 million, based on the following breakdown:

Total Gross Profit: $795 thousand
Total Operating Expenses: $593.42 million

How has Nuvation Bio's revenue changed over the last 4 years?

Over the last 4 years, Nuvation Bio's total revenue changed from $0.00 in 2020 to $7.87 million in 2024, a change of 787,300,000.0%.

How much debt does Nuvation Bio have?

Nuvation Bio's total liabilities were at $76.84 million at the end of 2024, a 369.6% increase from 2023, and a 1,045.5% increase since 2020.

How much cash does Nuvation Bio have?

In the past 4 years, Nuvation Bio's cash and equivalents has ranged from $29.76 million in 2020 to $132.42 million in 2021, and is currently $35.72 million as of their latest financial filing in 2024.

How has Nuvation Bio's book value per share changed over the last 4 years?

Over the last 4 years, Nuvation Bio's book value per share changed from 11.65 in 2020 to 1.38 in 2024, a change of -88.2%.

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This page (NYSE:NUVB) was last updated on 10/24/2025 by MarketBeat.com Staff

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Nuvation Bio (NUVB) Financials

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