NUVB Stock — Nuvation Bio Inc.: Cash, EV, Pipeline

What they do

On February 10, 2021, (the “Closing Date”), Nuvation Bio Inc., a Delaware corporation (“Legacy Nuvation Bio”), Panacea Acquisition Corp. (“Panacea”), and Panacea Merger Subsidiary Corp, a Delaware corporation and a direct, wholly owned subsidiary of Panacea (“Merger Sub”) consummated the transactions contemplated by an Agreement and Plan of Merger among them dated October 20, 2020 (“Merger Agreement”).

Source: 10-K FY2025 via SEC EDGAR

Share price

$4.16

Market cap

$1,466.8M

Cash

$663.4M

Enterprise value

$1,088.9M

Balance sheet

Cash	$663.4M
Debt	$285.4M
Net cash	$377.9M
Enterprise value	$1,088.9M
Basic shares	353.0M shares
Fully diluted shares	498.2M shares
Fully diluted market cap	$2,072.4M
Cash per share	$1.88
Quarterly burn	$43.0M
Cash runway	15.4 quarters

Cash figures as of 2026-09-30. Database snapshot: 2026-11-07.

Share structure

Common

351.1M

Pre-funded warrants

0.0M

Options

83.6M

RSUs

3.7M

Warrants

0.0M

Converts

36.7M

Conv preferred

0.0M

ESPP reserve

23.1M

FDSO

498.2M

Cap table as of 2026-06-30.

Price history

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Next catalyst

Taletrectinib · Mar 16 - Apr 27 in 4 mo · Phase 1 · Healthy Adult Participants

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Mar 16 - Apr 27 in 4 mo	Taletrectinib	Phase 1	Healthy Adult Participants	—
Apr 12 - May 24 in 5 mo	NUV-1511	Phase 2	Advanced Solid Tumor; HER2-negative Breast Cancer; Metastatic Castration-resistant Prostate Cancer (mCRPC)	—
Jan 12 - Feb 23 in 27 mo	safusidenib	Phase 3	Glioma; Astrocytoma, Grade IV; IDH1-mutant Glioma	—
Feb 12 - Mar 26 in 28 mo	Taletrectinib	Phase 3	Non Small Cell Lung Cancer	—
Jun 12 - Jul 24 in 32 mo	Safusidenib	Phase 3	Grade 2 Glioma (Astrocytoma or Oligodendroglioma) With an IDH1 Mutatio; Astrocytoma IDH Mutant Grade 2; Oligodendroglioma	—
Oct 11 - Nov 22 in 48 mo	Taletrectinib	Phase 3	Non-small Cell Lung Cancer (NSCLC)	—
Oct 13 - Nov 24 in 48 mo	Safusidenib	Phase 2	Grade 2 IDH1-mutant Glioma; Grade 3 IDH1-mutant Glioma; Glioma	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

taletrectinib

Approved · Active Modality: small molecule (oral ROS1 inhibitor)

Aliases IBTROZI, AB-106, DOVBLERON (China)

Target ROS1

Partnerships Daiichi Sankyo (in-license): global rights ($8M milestone on US approval). Innovent: China/Taiwan ($12M reg milestones; up to $17M + $105M milestones; mid-teens to low-twenties royalties). Nippon Kayaku: Japan ($40M upfront + $25M reg milestone; low-mid double-digit royalties). Eisai: EU + 40+ territories (€50M upfront ~$58.7M; up to €145M milestones; up to high-teens royalties)

Indications

ROS1-positive NSCLC, locally advanced or metastatic (Approved)
Resected ROS1+ early-stage NSCLC (adjuvant) (Phase 3)

Status note FDA approved June 11, 2025; approved in Japan (MHLW, Sep 2025) and China (NMPA); US launch June 2025. FDA Orphan Drug Designation; Breakthrough Therapy (FDA + NMPA). EMA and UK MAA validated (Mar 2026, Jun 2026). Phase 2 TRUST-I/TRUST-II, confirmatory Phase 3 TRUST-III vs crizotinib (China), global Phase 3 TRUST-IV adjuvant.

safusidenib

Phase 3 · Active Modality: small molecule (oral, brain-penetrant)

Target mutant IDH1 (mIDH1)

Partnerships Daiichi Sankyo: exclusive global development/commercialization rights (license amended Apr 2026 to include Japan; $3M milestone paid Feb 2026 on SIGMA conversion to pivotal; $0.5M for Japan amendment)

Indications

IDH1-mutant astrocytoma, high-risk features (maintenance) (Phase 3)
Grade 2 IDH1-mutant glioma (ex-US) (Phase 3)
Grade 2/3 IDH1-mutant glioma progressed after vorasidenib (US) (Phase 2)

Status note SIGMA randomized Phase 3 vs placebo converted to pivotal study. July 2026 announcement of two new studies: pivotal Phase 3 in grade 2 IDH1-mutant glioma (ex-US) and Phase 2 in post-vorasidenib US patients.

Per-asset detail extracted from the 10-Q filed 2026-08-06. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	safusidenib
Lead indication	Glioma
Lead phase	Phase 3
Active trials	9
Collaborator trials	1

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT05303519	Phase 3	Recruiting	Sponsor	NUVB	—	Glioma; Astrocytoma, Grade IV; IDH1-mutant Glioma	—
NCT06564324	Phase 3	Recruiting	Sponsor	NUVB	—	Non Small Cell Lung Cancer	—
NCT07712757	Phase 3	Not yet recruiting	Sponsor	NUVB	—	Grade 2 Glioma (Astrocytoma or Oligodendroglioma) With an IDH1 Mutatio; Astrocytoma IDH Mutant Grade 2; Oligodendroglioma	—
NCT07154706	Phase 3	Recruiting	Sponsor	NUVB	—	Non-small Cell Lung Cancer (NSCLC)	—
NCT06334432	Phase 2	Active, not recruiting	Sponsor	NUVB	—	Advanced Solid Tumor; HER2-negative Breast Cancer; Metastatic Castration-resistant Prostate Cancer (mCRPC)	—
NCT07703436	Phase 2	Not yet recruiting	Sponsor	NUVB	—	Grade 2 IDH1-mutant Glioma; Grade 3 IDH1-mutant Glioma; Glioma	—
NCT04395677	Phase 2	Active, not recruiting	Sponsor	NUVB	—	Non Small Cell Lung Cancer	—
NCT04919811	Phase 2	Active, not recruiting	Sponsor	NUVB	—	Non Small Cell Lung Cancer	—
NCT07742384	Phase 1	Not yet recruiting	Sponsor	NUVB	—	Healthy Adult Participants	—
NCT04151342	Not disclosed	Recruiting	Collaborator	University Health Network, Toronto	AMGN, AZN, TAK	Cancer; Malignancies Multiple; Malignant Solid Tumor	—

Sponsor-matched active trials from ClinicalTrials.gov (9 as sponsor, 1 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 10 active trials for Nuvation Bio Inc. on ClinicalTrials.gov

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
Tang Capital Partners	3,299,557	+150,000	0.85%	2026-08-14
ADAR1 Capital Management	0	-43,500	0.00%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

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NUVB — Nuvation Bio Inc. ☆

What they do

Balance sheet

Share structure

Price history

Next catalyst

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Specialist fund holders

Latest news

NUVB — Nuvation Bio Inc.