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NVS — Novartis AG

NVS (Novartis AG) stock: $162.54, $310.15B market cap, $11.44B cash, $327.44B EV, $310.15B fully diluted market cap. Data from Fully Diluted's biotech stocks database.

What they do

Novartis is an innovative medicines company, engaged in the research, development, manufacturing, distribution, marketing and sale of a broad range of pharmaceutical products. Its core therapeutic areas are cardiovascular, renal and metabolic; immunology; neuroscience; and oncology.

Source: 20-F FY2025 via SEC EDGAR

Share price
$162.54
Market cap
$310,151.0M
Cash
$11,435.0M
Enterprise value
$327,445.0M

Balance sheet

Cash$11,435.0M
Debt$28,729.0M
Net cash-$17,294.0M
Enterprise value$327,445.0M
Basic shares1,908.2M shares
Fully diluted shares1,908.2M shares
Fully diluted market cap$310,150.7M
Cash per share$5.99
Quarterly burn+$6,664.0M generated

Cash figures as of 2025-12-31. Database snapshot: 2026-11-07.

Share structure

Common
1,908.2M
Pre-funded warrants
0.0M
Options
—
RSUs
—
Warrants
0.0M
Converts
0.0M
Conv preferred
0.0M
ESPP reserve
—
FDSO
1,908.2M

Cap table as of 2026-02-04.

Price history

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Next catalyst

JDQ443 · Now - Nov 17, 2026 Now · Phase 3 · Non-Small Cell Lung Cancer

Recently reported

Remibrutinib Phase 3 Negative · 2026-10-27
RELIEVE · generalized myasthenia gravis (gMG)
Primary: Efficacy of remibrutinib in generalized myasthenia gravis (Phase III RELIEVE, NCT06744920; primary measure change in MG-ADL total score at Month 6) — Novartis has discontinued the Phase III study of remibrutinib in generalized myasthenia gravis (gMG) following a futility analysis, which indicated the treatment was unlikely to meet its efficacy objectives
· Futility analysis: treatment unlikely to meet its efficacy objectives
· No safety concerns were identified
· No impact on remibrutinib studies in other indications
Safety: No safety concerns were identified
Source release →
Remibrutinib Phase 3 Positive · 2026-10-23
REMODEL-1 / REMODEL-2 · relapsing multiple sclerosis
Primary: Annualized relapse rate (ARR) vs teriflunomide in the pivotal Phase III REMODEL-1 (NCT05147220) and REMODEL-2 (NCT05156281) trials in relapsing multiple sclerosis — Both trials met the primary endpoint: REMODEL-1 ARR 0.073 vs. 0.112 (35.2% relative reduction) and REMODEL-2 ARR 0.080 vs. 0.116 (31.2% relative reduction), translating to approximately one relapse every 13 years
· 6-month confirmed disability progression (6mCDP) risk reduced by 29.2%, with nominal significance; 3-month CDP reduction 20.5%
· More than 92% of remibrutinib patients remained free from disease progression over 24 months as assessed by 6mCDP
· Annualized T2 lesion activity 0.94 vs. 2.71 (REMODEL-1) and 0.82 vs. 2.77 (REMODEL-2); Gd+ T1 lesions per scan 0.08 vs. 0.24 and 0.07 vs. 0.21
· Pooled NEDA-3 achieved by 55.0% of remibrutinib patients vs. 32.1% on teriflunomide
· ALT >3xULN in 2.0% of remibrutinib patients vs. 7.4% with teriflunomide
· Novartis plans to seek regulatory approval for remibrutinib in RMS globally
Safety: No liver safety signal, including no Hy's Law cases; AEs 79.5% vs. 81.5%, serious AEs 6.0% vs. 7.0%, discontinuations due to AEs 3.1% vs. 5.8%; two deaths in the remibrutinib group, both assessed as unrelated to study treatment
Source release →
Kisqali (ribociclib) Phase 3 Positive · 2026-10-23
NATALEE · HR+/HER2- early breast cancer
Source release →
Iptacopan Phase 2 Mixed · 2026-10-16
Primary: Efficacy, safety and tolerability of iptacopan (Fabhalta) added to standard of care in lupus nephritis (Phase 2) — Study terminated after completing its first part, citing strategic considerations; Novartis said the decision was not driven by any interim efficacy or safety findings
· Other Fabhalta studies continue as planned
· Investigators notified and engaging participants on next steps
Safety: Novartis said the termination was not driven by interim safety findings
Source release →
VHB937 Phase 2 Missed primary · 2026-09-16
ALSFRS-R · alzheimer's disease
Source release →
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