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Nuvation Bio (NUVB) Financials

Nuvation Bio logo
$4.70 -0.08 (-1.57%)
Closing price 03:59 PM Eastern
Extended Trading
$4.72 +0.01 (+0.21%)
As of 05:01 PM Eastern
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Annual Income Statements for Nuvation Bio

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 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -42 -87 -104 -76 -568 -205
Consolidated Net Income / (Loss)		 -42 -87 -104 -76 -568 -205
Net Income / (Loss) Continuing Operations		 -42 -87 -104 -76 -568 -205
Total Pre-Tax Income 		-42 -87 -104 -76 -568 -205
Total Operating Income		 -44 -93 -120 -100 -593 -213
Total Gross Profit		 0.00 0.00 0.00 0.00 0.00 63
Total Revenue		 0.00 0.00 0.00 0.00 0.00 63
Operating Revenue		 - - - 0.00 - 63
Total Cost of Revenue		 0.00 0.00 0.00 0.00 0.00 0.00
Total Operating Expenses		 44 93 120 100 601 276
Selling, General & Admin Expense		 11 24 32 29 69 152
Research & Development Expense		 33 69 88 71 524 115
Other Operating Expenses / (Income)		 - - - - - 8.44
Total Other Income / (Expense), net		 1.89 6.47 16 24 25 8.44
Interest Expense		 - - - 0.00 0.34 14
Interest & Investment Income		 2.16 2.88 6.22 25 27 21
Other Income / (Expense), net		 -0.27 3.59 9.32 -0.45 -2.02 0.69
Income Tax Expense		 0.00 0.00 0.00 0.00 0.00 0.00
Basic Earnings per Share		 ($0.43) ($0.44) ($0.48) ($0.35) ($2.11) ($0.60)
Weighted Average Basic Shares Outstanding		 97.53M 197.89M 216.72M 218.88M 268.77M 341.54M
Diluted Earnings per Share		 ($0.43) ($0.44) ($0.48) ($0.35) ($2.11) ($0.60)
Weighted Average Diluted Shares Outstanding		 97.53M 197.89M 216.72M 218.88M 268.77M 341.54M
Weighted Average Basic & Diluted Shares Outstanding		 97.53M 219.06M 218.80M 219.05M 338.68M 347.60M

Quarterly Income Statements for Nuvation Bio

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 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -19 -15 -15 -462 -41 -52 -53 -59 -56 -37 5.40
Consolidated Net Income / (Loss)		 -20 -14 -15 -462 -41 -49 -53 -59 -56 -37 5.40
Net Income / (Loss) Continuing Operations		 -20 -14 -15 -462 -41 -49 -53 -59 -56 -37 5.40
Total Pre-Tax Income 		-20 -14 -15 -462 -41 -49 -53 -59 -56 -37 5.40
Total Operating Income		 -26 -21 -20 -470 -48 -54 -59 -64 -56 -34 3.88
Total Gross Profit		 0.00 - 0.00 0.09 -0.79 1.50 3.08 2.26 9.77 50 83
Total Revenue		 0.00 - 0.00 1.44 0.73 5.71 3.08 4.83 13 42 83
Operating Revenue		 0.00 - 0.00 1.44 0.73 - 3.08 4.83 13 42 83
Total Cost of Revenue		 0.00 - 0.00 1.35 1.52 4.22 0.00 2.58 3.35 -8.02 0.00
Total Operating Expenses		 26 21 20 470 47 55 62 66 66 84 79
Selling, General & Admin Expense		 7.78 5.48 7.36 16 20 26 35 38 37 41 39
Research & Development Expense		 19 15 13 454 28 29 25 27 29 34 35
Other Operating Expenses / (Income)		 - - - - - - 2.09 - - - 5.62
Total Other Income / (Expense), net		 6.69 7.04 5.41 7.89 6.89 4.50 5.77 4.58 0.64 -2.56 1.52
Interest Expense		 0.00 - 0.00 0.13 0.12 - 0.05 0.42 6.53 6.67 6.71
Interest & Investment Income		 6.52 6.93 7.13 7.14 6.73 6.07 5.32 4.78 6.03 5.30 5.11
Other Income / (Expense), net		 0.16 -0.02 -1.72 0.89 0.30 -1.62 0.50 0.22 1.14 -1.18 3.11
Income Tax Expense		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Basic Earnings per Share		 ($0.09) ($0.07) ($0.07) ($1.89) ($0.15) - ($0.16) ($0.17) ($0.16) ($0.11) $0.02
Weighted Average Basic Shares Outstanding		 218.94M 218.88M 219.05M 244.74M 273.57M 268.77M 338.61M 340.75M 342.39M 341.54M 347.33K
Diluted Earnings per Share		 ($0.09) ($0.07) ($0.07) ($1.89) ($0.15) - ($0.16) ($0.17) ($0.16) ($0.11) $0.01
Weighted Average Diluted Shares Outstanding		 218.94M 218.88M 219.05M 244.74M 273.57M 268.77M 338.61M 340.75M 342.39M 341.54M 377.52K
Weighted Average Basic & Diluted Shares Outstanding		 218.94M 219.05M 247.17M 249.25M 336.57M 338.68M 340.26M 342.27M 342.83M 347.60M 348.20M

Annual Cash Flow Statements for Nuvation Bio

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 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -108 103 -31 -58 -6.93 128
Net Cash From Operating Activities		 -37 -68 -96 -68 -130 -173
Net Cash From Continuing Operating Activities		 -173 -63 -96 -68 -131 -174
Net Income / (Loss) Continuing Operations		 -42 -87 -104 -76 -568 -205
Consolidated Net Income / (Loss)		 -42 -87 -104 -76 -568 -205
Depreciation Expense		 0.10 0.18 0.20 0.22 0.68 1.74
Amortization Expense		 - 4.59 3.67 -12 -9.00 -4.62
Non-Cash Adjustments To Reconcile Net Income		 -134 7.14 8.51 18 458 46
Changes in Operating Assets and Liabilities, net		 2.37 12 -4.28 1.76 -13 -12
Net Cash From Investing Activities		 -70 -455 63 8.92 123 100
Net Cash From Continuing Investing Activities		 -70 -455 63 8.92 123 100
Purchase of Property, Plant & Equipment		 -0.15 -0.28 -0.37 -0.07 -0.16 -8.35
Acquisitions		 - - - 0.00 -7.43 0.00
Purchase of Investments		 -143 -609 -520 -703 -340 -354
Divestitures		 - - - 0.00 20 0.00
Sale and/or Maturity of Investments		 73 155 584 712 450 462
Net Cash From Financing Activities		 133 626 1.33 0.63 0.33 203
Net Cash From Continuing Financing Activities		 136 626 1.33 0.63 0.33 203
Repayment of Debt		 - - - 0.00 -17 -18
Issuance of Debt		 136 - - 0.00 13 60
Issuance of Common Equity		 0.00 0.31 0.39 0.25 0.43 1.31
Other Financing Activities, net		 0.00 625 0.94 0.38 4.46 160
Effect of Exchange Rate Changes		 - - - 0.00 0.45 -0.27
Cash Interest Paid		 - - - 0.00 0.34 2.88
Cash Income Taxes Paid		 - - - 0.00 0.37 0.20

Quarterly Cash Flow Statements for Nuvation Bio

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 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -26 18 -8.14 -0.23 -4.25 5.69 12 200 -149 65 -39
Net Cash From Operating Activities		 -16 -15 -16 -37 -31 -46 -43 -48 -53 -30 5.07
Net Cash From Continuing Operating Activities		 -16 -15 -16 -37 -31 -46 -43 -48 -53 -30 5.07
Net Income / (Loss) Continuing Operations		 -20 -14 -15 -462 -41 -49 -53 -59 -56 -37 5.40
Consolidated Net Income / (Loss)		 -20 -14 -15 -462 -41 -49 -53 -59 -56 -37 5.40
Depreciation Expense		 0.06 0.06 0.06 0.24 0.16 0.22 0.31 0.36 0.53 0.54 0.54
Amortization Expense		 -3.43 -3.26 -2.82 -2.42 -2.10 -1.65 -1.47 -1.32 -0.97 -0.86 -0.52
Non-Cash Adjustments To Reconcile Net Income		 4.80 2.73 5.88 434 6.85 12 7.53 4.67 18 15 11
Changes in Operating Assets and Liabilities, net		 2.07 -0.77 -4.03 -6.51 5.22 -7.31 4.24 7.13 -15 -8.52 -12
Net Cash From Investing Activities		 -9.59 33 7.54 34 29 52 54 55 -97 87 -44
Net Cash From Continuing Investing Activities		 -9.59 33 7.54 34 29 52 54 55 -97 87 -44
Purchase of Property, Plant & Equipment		 -0.02 -0.01 -0.03 - -0.15 0.01 -0.07 -0.18 -8.01 -0.09 -0.05
Purchase of Investments		 -111 -149 -128 -94 -86 -32 -61 -82 -167 -45 -82
Sale and/or Maturity of Investments		 101 182 136 115 115 84 115 137 79 132 39
Net Cash From Financing Activities		 0.08 0.12 0.02 2.75 -1.54 -0.90 0.55 193 0.50 8.06 0.04
Net Cash From Continuing Financing Activities		 0.08 0.12 0.02 2.75 -1.54 -0.90 0.55 193 0.57 8.49 0.04
Repayment of Debt		 - - 0.00 - -3.21 -7.63 -0.53 -6.77 0.01 -11 0.00
Other Financing Activities, net		 0.08 - 0.02 1.93 1.67 0.84 1.08 151 0.56 7.71 0.04
Effect of Exchange Rate Changes		 - - 0.00 - -0.74 1.12 0.15 -0.13 -0.06 -0.22 -0.17

Annual Balance Sheets for Nuvation Bio

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 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 222 776 672 621 541 595
Total Current Assets		 221 772 667 616 526 572
Cash & Equivalents		 30 132 101 43 36 164
Short-Term Investments		 187 636 562 572 471 368
Accounts Receivable		 - - - 0.00 13 16
Inventories, net		 - - - - 0.00 11
Prepaid Expenses		 0.91 3.64 3.82 1.52 7.27 12
Plant, Property, & Equipment, net		 0.69 0.79 0.89 0.72 0.59 0.56
Total Noncurrent Assets		 0.42 3.29 3.93 4.33 14 23
Intangible Assets		 - - - 0.00 4.62 11
Other Noncurrent Operating Assets		 0.42 3.29 3.93 4.33 9.16 12
Total Liabilities & Shareholders' Equity		 222 776 672 621 541 595
Total Liabilities		 6.71 30 17 16 77 289
Total Current Liabilities		 6.55 17 13 14 58 82
Short-Term Debt		 - - - 0.00 6.28 5.72
Accounts Payable		 2.17 3.93 2.14 2.21 6.35 9.48
Accrued Expenses		 4.38 12 9.82 9.79 33 45
Other Current Liabilities		 - 0.86 1.21 1.97 1.66 22
Total Noncurrent Liabilities		 0.16 13 3.90 2.39 19 207
Long-Term Debt		 - - - - 0.00 47
Noncurrent Deferred Revenue		 0.16 - - 0.00 0.00 146
Other Noncurrent Operating Liabilities		 0.00 13 3.90 2.39 19 14
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 215 746 655 605 464 306
Total Preferred & Common Equity		 215 746 655 605 464 306
Total Common Equity		 215 746 655 605 464 306
Common Stock		 289 910 928 948 1,374 1,421
Retained Earnings		 -76 -163 -267 -343 -911 -1,115
Accumulated Other Comprehensive Income / (Loss)		 1.56 -1.19 -5.53 0.18 0.57 -0.19

Quarterly Balance Sheets for Nuvation Bio

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 Q2 2025 Q3 2025 Q1 2026
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 6/30/2025 9/30/2025 3/31/2026
Total Assets		 686 657 641 631 613 595 572 492 647 602 610
Total Current Assets		 681 653 637 625 608 587 565 476 623 578 592
Cash & Equivalents		 139 30 50 24 35 34 30 48 248 99 125
Short-Term Investments		 538 619 584 598 567 547 519 419 364 456 412
Accounts Receivable		 - - - - - 0.12 0.11 0.41 2.69 8.32 23
Inventories, net		 - - - - - - - 0.01 0.55 5.71 16
Prepaid Expenses		 5.09 3.68 3.53 2.98 6.80 5.99 12 8.42 8.26 8.93 16
Plant, Property, & Equipment, net		 0.90 0.84 0.80 0.76 0.69 0.75 0.72 0.56 0.62 0.56 0.54
Total Noncurrent Assets		 4.20 3.66 3.38 4.76 4.38 6.87 5.73 16 23 23 18
Intangible Assets		 - - - - - 2.93 2.78 4.41 12 12 11
Other Noncurrent Operating Assets		 4.20 3.66 3.38 4.76 4.38 3.94 2.95 12 11 12 7.42
Total Liabilities & Shareholders' Equity		 686 657 641 631 613 595 572 492 647 602 610
Total Liabilities		 19 16 17 19 19 63 69 73 274 276 291
Total Current Liabilities		 14 13 13 16 16 51 59 53 66 68 80
Short-Term Debt		 - - - - - 12 8.43 5.69 5.58 5.62 5.79
Accounts Payable		 3.00 2.95 2.58 2.37 2.44 5.21 12 11 22 15 22
Accrued Expenses		 9.92 8.36 9.55 12 11 20 24 24 24 33 33
Current Deferred Revenue		 - - - - - 12 13 11 - 6.72 8.65
Other Current Liabilities		 1.10 1.24 1.28 1.92 2.02 2.08 1.78 1.89 14 7.85 9.78
Total Noncurrent Liabilities		 4.54 3.44 3.37 3.14 3.32 12 9.83 20 208 208 211
Long-Term Debt		 - - - - - - - - 47 47 47
Noncurrent Deferred Revenue		 - - - - - 9.16 7.94 14 143 145 152
Other Noncurrent Operating Liabilities		 4.54 3.44 3.37 3.14 3.32 2.41 1.89 6.64 18 16 12
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 668 641 625 612 594 532 503 419 373 326 320
Total Preferred & Common Equity		 668 641 625 612 594 257 503 419 373 326 320
Total Common Equity		 668 641 625 612 594 257 503 419 373 326 320
Common Stock		 922 933 938 944 953 1,079 1,363 1,383 1,396 1,405 1,431
Retained Earnings		 -246 -289 -309 -329 -358 -820 -861 -964 -1,023 -1,079 -1,110
Accumulated Other Comprehensive Income / (Loss)		 -8.12 -2.94 -4.40 -3.30 -1.17 -1.27 1.38 0.55 -0.33 -0.14 -1.68

Annual Metrics And Ratios for Nuvation Bio

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

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 - - - - - 342,833,433.00
DEI Adjusted Shares Outstanding		 - - - - - 342,833,433.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - -0.60
Growth Metrics		 - - - - - -
Profitability Metrics		 - - - - - -
Net Operating Profit after Tax (NOPAT)		 -30 -65 -84 -70 -415 -149
Return On Investment Capital (ROIC_SIMPLE)		 - - - -11.55% -88.25% -41.59%
Earnings before Interest and Taxes (EBIT)		 -44 -90 -110 -100 -595 -212
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -44 -85 -107 -112 -603 -215
Valuation Ratios		 - - - - - -
Leverage & Solvency		 - - - - - -
Liquidity Ratios		 - - - - - -
Cash Flow Metrics		 - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -45 -98 -69 -388 -11
Efficiency Ratios		 - - - - - -
Capital & Investment Metrics		 - - - - - -
Invested Capital		 -1.76 -22 -8.42 -9.79 -36 -174
Increase / (Decrease) in Invested Capital		 0.00 -21 14 -1.37 -26 -138
Book Value per Share		 $11.65 $3.43 $3.00 $2.76 $1.38 $0.89
Tangible Book Value per Share		 $11.65 $3.43 $3.00 $2.76 $1.36 $0.86
Total Capital		 215 746 655 605 470 359
Total Debt		 0.00 0.00 0.00 0.00 6.28 53
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 47
Net Debt		 -217 -768 -663 -615 -500 -480
Capital Expenditures (CapEx)		 0.15 0.28 0.36 0.06 0.16 8.35
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -2.71 -13 -9.34 -12 -32 -37
Debt-free Net Working Capital (DFNWC)		 214 755 654 602 474 495
Net Working Capital (NWC)		 214 755 654 602 468 489
Net Nonoperating Expense (NNE)		 11 22 20 5.93 153 55
Net Nonoperating Obligations (NNO)		 -217 -768 -663 -615 -500 -480
Total Depreciation and Amortization (D&A)		 0.10 4.78 3.87 -12 -8.32 -2.88
Earnings Adjustments		 - - - - - -
Adjusted Basic Earnings per Share		 $0.00 ($0.44) ($0.48) ($0.35) ($2.11) ($0.60)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 219.06M 216.72M 218.88M 268.77M 341.54M
Adjusted Diluted Earnings per Share		 $0.00 ($0.44) ($0.48) ($0.35) ($2.11) ($0.60)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 219.06M 216.72M 218.88M 268.77M 341.54M
Adjusted Basic & Diluted Earnings per Share		 $0.00 ($0.44) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 219.06M 218.80M 219.05M 338.68M 347.60M
Normalized Net Operating Profit after Tax (NOPAT)		 -30 -65 -84 -70 -415 -149
Debt Service Ratios		 - - - - - -
Payout Ratios		 - - - - - -

Quarterly Metrics And Ratios for Nuvation Bio

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - 342,833,433.00 347,597,289.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 342,833,433.00 347,597,289.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - -0.11 0.02
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 236.79% 1,704.68% - 2,598.70%
EBITDA Growth		 -3.75% 2.27% 13.99% -1,482.40% -68.29% -136.91% -141.73% 86.36% -12.03% - 111.74%
EBIT Growth		 10.14% 13.96% 17.61% -1,662.31% -82.57% -166.43% -166.87% 86.50% -15.66% - 111.95%
NOPAT Growth		 10.22% 14.40% 23.84% -1,700.10% -82.62% -158.95% -192.11% 86.48% -17.32% - 109.40%
Net Income Growth		 27.77% 33.86% 31.92% -2,140.76% -109.73% -258.63% -259.90% 87.24% -35.38% - 110.14%
EPS Growth		 25.00% 30.00% 30.00% -2,000.00% -66.67% 0.00% -128.57% 91.01% -6.67% - 106.25%
Operating Cash Flow Growth		 42.49% 7.05% 18.77% -113.46% -92.42% -208.08% -171.48% -29.08% -70.14% - 111.89%
Free Cash Flow Firm Growth		 56.02% 57.44% 46.21% -1,231.14% 86.41% 14.01% 52.92% 134.69% 4,429.65% - 1,925.40%
Invested Capital Growth		 -29.00% -16.27% 7.58% -311.55% -292.05% -269.56% -476.20% -399.32% -316.24% - -295.13%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% -49.34% 685.56% -46.00% 56.71% 171.47% - 98.80%
EBITDA Q/Q Growth		 0.78% 18.61% -2.61% -1,809.78% 89.45% -14.58% -4.69% -7.80% 13.37% - 119.72%
EBIT Q/Q Growth		 1.66% 20.36% -5.13% -2,040.45% 89.81% -16.22% -5.30% -8.31% 12.74% - 119.85%
NOPAT Q/Q Growth		 -0.80% 20.91% 3.03% -2,228.75% 89.77% -12.14% -9.38% -7.77% 11.25% - 116.29%
Net Income Q/Q Growth		 4.80% 29.83% -7.29% -3,026.64% 91.09% -19.98% -7.67% -10.84% 5.45% - 114.75%
EPS Q/Q Growth		 0.00% 22.22% 0.00% -2,600.00% 92.06% 0.00% 0.00% -6.25% 5.88% - 109.09%
Operating Cash Flow Q/Q Growth		 7.61% 6.97% -4.48% -137.70% 16.72% -48.95% 7.94% -13.02% -9.78% - 117.05%
Free Cash Flow Firm Q/Q Growth		 29.19% 17.50% -11.50% -1,943.50% 99.28% -422.20% 38.95% 1,605.68% -9.80% - 11.22%
Invested Capital Q/Q Growth		 -18.99% 9.19% 26.30% -416.82% -13.35% 14.40% -14.90% -347.87% 5.51% - 5.49%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 0.00% 0.00% 0.00% 6.13% -108.39% 26.18% 32.10% 46.70% 74.47% - 100.00%
EBITDA Margin		 0.00% 0.00% 0.00% -32,852.26% -6,842.50% -998.00% -1,934.82% -1,330.97% -424.75% - 8.42%
Operating Margin		 0.00% 0.00% 0.00% -32,779.44% -6,616.37% -944.53% -1,913.23% -1,315.73% -430.14% - 4.66%
EBIT Margin		 0.00% 0.00% 0.00% -32,700.35% -6,575.65% -972.88% -1,897.08% -1,311.09% -421.43% - 8.40%
Profit (Net Income) Margin		 0.00% 0.00% 0.00% -32,229.41% -5,668.50% -865.79% -1,726.20% -1,220.92% -425.24% - 6.48%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% - 100.00%
Interest Burden Percent		 75.04% 66.11% 67.47% 98.56% 86.20% 88.99% 90.99% 93.12% 100.91% - 77.22%
Effective Tax Rate		 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%
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%
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%
Return on Equity (ROE)		 -12.95% -12.03% -11.15% -88.30% -95.54% -106.27% -119.66% -44.84% -52.49% - -39.51%
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%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% -75.92% -23.65% -13.18% -37.60% -30.31% -19.22% - 2.18%
Return on Assets (ROA)		 0.00% 0.00% 0.00% -74.82% -20.38% -11.73% -34.21% -28.22% -19.39% - 1.68%
Return on Common Equity (ROCE)		 -12.95% -12.03% -11.15% -67.31% -95.54% -106.27% -119.66% -31.22% -52.49% - -39.51%
Return on Equity Simple (ROE_SIMPLE)		 -13.55% 0.00% -11.59% -198.57% -105.88% 0.00% -144.56% 0.00% 0.00% - 0.00%
Net Operating Profit after Tax (NOPAT)		 -18 -15 -14 -329 -34 -38 -41 -45 -40 -24 3.88
NOPAT Margin		 0.00% 0.00% 0.00% -22,945.61% -4,631.46% -661.17% -1,339.26% -921.01% -301.10% - 4.66%
Net Nonoperating Expense Percent (NNEP)		 -0.19% 0.12% -0.10% -22.15% -1.29% -2.10% -2.25% -2.57% -3.11% - 0.32%
Return On Investment Capital (ROIC_SIMPLE)		 - -2.41% - - - -8.03% -9.72% -10.46% -10.43% -6.64% 1.04%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 93.87% 208.39% 73.82% 67.90% 53.30% 25.53% - 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 1,143.07% 2,693.54% 453.35% 1,147.63% 796.28% 284.75% - 46.48%
R&D to Revenue		 0.00% 0.00% 0.00% 31,659.72% 3,814.44% 513.03% 797.70% 566.15% 219.86% - 42.11%
Operating Expenses to Revenue		 0.00% 0.00% 0.00% 32,802.79% 6,507.98% 966.38% 1,945.33% 1,362.43% 504.61% - 95.34%
Earnings before Interest and Taxes (EBIT)		 -26 -21 -22 -469 -48 -56 -59 -63 -55 -35 6.99
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -30 -24 -25 -471 -50 -57 -60 -64 -56 -36 7.01
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.48 0.55 1.34 2.81 1.14 1.93 1.42 1.78 3.89 - 4.67
Price to Tangible Book Value (P/TBV)		 0.48 0.55 1.34 2.84 1.14 1.95 1.44 1.84 4.03 - 4.83
Price to Revenue (P/Rev)		 0.00 0.00 0.00 502.95 264.00 113.71 54.40 46.22 47.35 - 10.42
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
Dividend Yield		 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%
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
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 297.73 13.90 50.21 12.32 7.27 28.58 - 7.04
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
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
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
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
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 - 57.24
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.02 0.02 0.01 0.01 0.14 0.16 - 0.17
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.13 0.14 - 0.15
Financial Leverage		 -1.02 -1.01 -1.01 -1.04 -1.05 -1.04 -1.05 -1.25 -1.26 - -1.28
Leverage Ratio		 1.03 1.03 1.03 1.07 1.08 1.09 1.09 1.37 1.42 - 1.49
Compound Leverage Factor		 0.77 0.68 0.69 1.05 0.93 0.97 0.99 1.28 1.43 - 1.15
Debt to Total Capital		 0.00% 0.00% 0.00% 2.14% 1.65% 1.34% 1.34% 12.35% 13.92% - 14.25%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 2.14% 1.65% 1.34% 1.34% 1.31% 1.48% - 1.55%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 11.04% 12.44% - 12.70%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 50.56% 0.00% 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% 0.00% 0.00% 0.00% 0.00% - 0.00%
Common Equity to Total Capital		 100.00% 100.00% 100.00% 47.30% 98.35% 98.66% 98.66% 87.65% 86.08% - 85.75%
Debt to EBITDA		 0.00 0.00 0.00 -0.02 -0.01 -0.01 -0.01 -0.23 -0.22 - -0.36
Net Debt to EBITDA		 0.00 0.00 0.00 1.04 0.95 0.83 0.72 2.43 2.12 - 3.26
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.20 -0.20 - -0.32
Debt to NOPAT		 0.00 0.00 0.00 -0.03 -0.02 -0.02 -0.01 -0.33 -0.32 - -0.51
Net Debt to NOPAT		 0.00 0.00 0.00 1.51 1.38 1.21 1.04 3.56 3.08 - 4.60
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.30 -0.29 - -0.45
Altman Z-Score		 9.42 12.40 25.29 3.46 3.65 5.35 2.82 -0.03 1.00 - 1.81
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 23.77% 0.00% 0.00% 0.00% 30.38% 0.00% - 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 38.74 44.11 38.58 11.49 9.57 9.04 9.01 9.39 8.48 - 7.44
Quick Ratio		 38.55 44.00 38.15 11.37 9.30 8.91 8.85 9.26 8.26 - 7.04
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -16 -13 -15 -301 -2.18 -11 -6.94 104 94 114 127
Operating Cash Flow to CapEx		 -73,431.82% -115,607.69% -58,155.56% 0.00% -21,003.38% 0.00% -59,204.17% -26,617.68% -660.12% - 10,560.42%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 -2,280.56 -18.13 0.00 -128.44 248.05 14.42 - 18.87
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 -282.76 -259.04 0.00 -789.39 -114.44 -8.09 - 0.76
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 -282.76 -260.28 0.00 -790.72 -114.87 -9.32 - 0.75
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.01 0.02 0.02 0.05 - 0.26
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 10.22 6.34 - 12.37
Inventory Turnover		 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 1.85 2.92 12.08 17.56 21.02 41.83 - 260.79
Accounts Payable Turnover		 0.00 0.00 0.00 0.35 0.39 1.65 1.41 0.75 0.88 - 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 35.72 57.55 - 29.51
Days Inventory Outstanding (DIO)		 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 1,055.17 940.75 220.63 258.13 484.81 413.78 - 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 -1,055.17 -940.75 -220.63 -258.13 -449.08 -356.22 - 29.51
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -11 -9.79 -7.22 -37 -42 -36 -42 -186 -176 -174 -164
Invested Capital Turnover		 0.00 0.00 0.00 -0.06 -0.08 -0.34 -0.45 -0.13 -0.25 - -1.39
Increase / (Decrease) in Invested Capital		 -2.42 -1.37 0.59 -28 -31 -26 -34 -149 -134 -138 -123
Enterprise Value (EV)		 -329 -284 196 427 30 395 135 104 765 - 1,007
Market Capitalization		 293 331 797 722 571 895 596 664 1,266 - 1,491
Book Value per Share		 $2.79 $2.76 $2.71 $1.04 $2.02 $1.38 $1.24 $1.10 $0.95 $0.89 $0.92
Tangible Book Value per Share		 $2.79 $2.76 $2.71 $1.03 $2.01 $1.36 $1.23 $1.06 $0.92 $0.86 $0.89
Total Capital		 612 605 594 544 511 470 425 425 379 359 373
Total Debt		 0.00 0.00 0.00 12 8.43 6.28 5.69 53 53 53 53
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 47 47 47 47
Net Debt		 -622 -615 -601 -569 -541 -500 -461 -559 -502 -480 -484
Capital Expenditures (CapEx)		 0.02 0.01 0.03 0.00 0.15 -0.01 0.07 0.18 8.01 0.09 0.05
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -13 -12 -8.97 -33 -35 -32 -38 -49 -40 -37 -19
Debt-free Net Working Capital (DFNWC)		 609 602 592 548 514 474 428 562 515 495 518
Net Working Capital (NWC)		 609 602 592 536 506 468 423 557 509 489 512
Net Nonoperating Expense (NNE)		 1.21 -0.79 0.65 133 7.54 12 12 14 16 13 -1.52
Net Nonoperating Obligations (NNO)		 -622 -615 -601 -569 -545 -500 -461 -559 -502 -480 -484
Total Depreciation and Amortization (D&A)		 -3.38 -3.20 -2.76 -2.18 -1.94 -1.44 -1.16 -0.96 -0.44 -0.32 0.02
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% -2,324.25% -1,607.72% -406.05% -349.08% -343.23% -147.88% - -13.42%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 38,168.01% 23,791.67% 6,024.31% 3,910.56% 3,918.04% 1,925.44% - 361.98%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% 37,357.28% 23,401.94% 5,944.51% 3,858.67% 3,879.15% 1,904.44% - 357.93%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.09) ($0.07) ($0.07) ($1.89) ($0.15) $0.00 ($0.16) ($0.17) ($0.16) ($0.11) $0.02
Adjusted Weighted Average Basic Shares Outstanding		 218.94M 218.88M 219.05M 244.74M 273.57M 268.77M 338.61M 340.75M 342.39M 341.54M 347.33K
Adjusted Diluted Earnings per Share		 ($0.09) ($0.07) ($0.07) ($1.89) ($0.15) $0.00 ($0.16) ($0.17) ($0.16) ($0.11) $0.01
Adjusted Weighted Average Diluted Shares Outstanding		 218.94M 218.88M 219.05M 244.74M 273.57M 268.77M 338.61M 340.75M 342.39M 341.54M 377.52K
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		 218.94M 219.05M 247.17M 249.25M 336.57M 338.68M 340.26M 342.27M 342.83M 347.60M 348.20M
Normalized Net Operating Profit after Tax (NOPAT)		 -18 -15 -14 -329 -34 -38 -41 -45 -40 -24 2.72
Normalized NOPAT Margin		 0.00% 0.00% 0.00% -22,945.61% -4,631.46% -661.17% -1,339.26% -921.01% -301.10% - 3.26%
Pre Tax Income Margin		 0.00% 0.00% 0.00% -32,229.41% -5,668.50% -865.79% -1,726.20% -1,220.92% -425.24% - 6.48%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 -3,554.92 -398.38 0.00 -1,083.44 -150.51 -8.46 - 1.04
NOPAT to Interest Expense		 0.00 0.00 0.00 -2,494.47 -280.59 0.00 -764.87 -105.73 -6.05 - 0.58
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 -3,554.92 -399.61 0.00 -1,084.78 -150.94 -9.69 - 1.03
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 -2,494.47 -281.82 0.00 -766.20 -106.16 -7.27 - 0.57
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%
Augmented Payout Ratio		 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 (NUVB) has seen a mix of topline growth in late 2025 alongside ongoing losses and cash burn. Below is a concise, investor-focused read of the latest four years of quarterly statements, focusing on liquidity, cash flows, profitability, and balance-sheet dynamics.

  • Strong liquidity headroom: Cash & equivalents plus short-term investments totaled about $554 million at 9/30/2025 (roughly $99M in cash plus $456M in short-term investments), providing substantial liquidity runway for operations and near-term funding needs.
  • Q4 2025 revenue momentum: Operating revenue rose to $41.9 million in Q4 2025, up meaningfully from earlier 2025 quarters, signaling improved topline activity.
  • Material cash inflow from investing activity in Q4 2025: Net cash from continuing investing activities was about $87.1 million, driven by $132.1 million from sale/maturity of investments, highlighting opportunistic liquidity events.
  • Financing activity supports liquidity: Net cash from financing activities in Q4 2025 was about $8.1 million, indicating continued access to capital markets beyond operating cash flow.
  • High quarterly operating costs persist: In Q4 2025, SG&A was $41.2 million and R&D was $34.3 million, with total operating expenses of $83.9 million, underscoring a high-cost structure relative to revenue.
  • Ongoing net losses and negative earnings per share: Q4 2025 net income was -$36.6 million and diluted EPS was -$0.11, continuing a pattern of losses despite topline gains.
  • Significant cumulative losses on the balance sheet: Retained earnings were negative (e.g., -$1.08 billion in Q3 2025), indicating substantial accumulated losses even as total equity remained positive around $326 million in that period.
  • Persistent cash burn from operations: Net cash from continuing operating activities was -$30.2 million in Q4 2025 (and was larger in Q3 2025 at -$52.9 million), illustrating ongoing cash burn despite rising revenue.
  • Bottom-line losses across recent quarters: The company posted notable net losses in multiple quarters (Q1 2025 -$53.2M; Q2 2025 -$59.0M; Q3 2025 -$55.8M; Q4 2025 -$36.6M), indicating no near-term profitability.
  • Leverage and liabilities pressure: Total liabilities were about $275.7 million in Q3 2025, including long-term debt of ~$47.1 million and substantial current liabilities; deferred revenue was about $144.6 million, signaling future cash outflow commitments.

Notes: All figures are in USD and drawn from the standardized quarterly statements provided. The trend highlights show liquidity and revenue dynamics improving in late 2025, but profitability remains elusive and operating cash flow continues to be negative, reinforcing ongoing reliance on financing and asset-related liquidity events.

05/14/26 04:16 PM ETAI Generated. May Contain Errors.

Nuvation Bio Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Nuvation Bio's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Nuvation Bio's net income appears to be on an upward trend, with a most recent value of -$204.63 million in 2025, rising from -$41.66 million in 2020. The previous period was -$567.94 million in 2024. Check out Nuvation Bio's forecast to explore projected trends and price targets.

Nuvation Bio's total operating income in 2025 was -$213.06 million, based on the following breakdown:
  • Total Gross Profit: $62.90 million
  • Total Operating Expenses: $275.97 million

Over the last 5 years, Nuvation Bio's total revenue changed from $0.00 in 2020 to $62.90 million in 2025, a change of 6,290,200,000.0%.

Nuvation Bio's total liabilities were at $289.11 million at the end of 2025, a 276.3% increase from 2024, and a 4,209.9% increase since 2020.

In the past 5 years, Nuvation Bio's cash and equivalents has ranged from $29.76 million in 2020 to $164.09 million in 2025, and is currently $164.09 million as of their latest financial filing in 2025.

Over the last 5 years, Nuvation Bio's book value per share changed from 11.65 in 2020 to 0.89 in 2025, a change of -92.3%.


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Financial statements for NYSE:NUVB last updated on 5/7/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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