Nuvation Bio Inc. NUVB
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").
Pursuant to the terms of the Merger Agreement, a business combination of Panacea and Legacy Nuvation Bio was effected through the merger of Merger Sub with and into Legacy Nuvation Bio, with Legacy Nuvation Bio surviving as a wholly owned subsidiary of Panacea (the "Merger"). On the Closing Date, Legacy Nuvation Bio changed its name to Nuvation Bio Operating Company Inc. and Panacea changed its name to Nuvation Bio Inc. (the "Company" or "Nuvation Bio").
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $62.9M | $7.9M | $0 | — | — | — | — |
| Cost of revenue | — | $7.1M | $0 | — | — | — | — |
| Gross profit | — | $795.0K | $0 | — | — | — | — |
| R&D | $115.1M | $99.1M | $71.3M | $87.8M | $69.0M | $32.6M | — |
| SG&A | $151.6M | $69.2M | $28.5M | $31.9M | $24.3M | $10.9M | — |
| Total operating expenses | $276.0M | $600.5M | $99.8M | $119.7M | $93.3M | $43.6M | — |
| Operating income | -$213.1M | -$592.6M | -$99.8M | -$119.7M | -$93.3M | -$43.6M | — |
| Interest expense | $13.7M | $341.0K | $0 | — | — | — | — |
| Pre-tax income | -$204.6M | -$567.9M | -$75.8M | -$104.2M | -$86.8M | -$41.7M | — |
| Income tax | $0 | $0 | $0 | $0 | $0 | $0 | — |
| Net income | -$204.6M | -$567.9M | -$75.8M | -$104.2M | -$86.8M | -$41.7M | — |
| EPS, basic | -0.60 | -2.11 | -0.35 | -0.48 | -0.44 | — | — |
| EPS, diluted | -0.60 | -2.11 | -0.35 | -0.48 | -0.44 | -0.43 | — |
| Shares, diluted (wtd. avg.) | $341.5K | $268.8K | $218.9K | $216.7K | $197.9K | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $164.1M | $35.7M | $42.6M | $101.1M | $132.4M | $29.8M | $3.5M |
| Short-term investments | $365.1M | $467.0M | $568.6M | $559.9M | $633.0M | $186.0M | — |
| Inventory | $11.4M | $0 | — | — | — | — | — |
| Total current assets | $571.5M | $526.3M | $616.4M | $667.3M | $772.1M | $220.7M | — |
| Property, plant and equipment | $564.0K | $586.0K | $717.0K | $894.0K | $786.0K | $688.0K | — |
| Other intangibles | $11.2M | $4.6M | $0 | — | — | — | — |
| Total assets | $594.8M | $540.6M | $621.5M | $672.1M | $776.2M | $221.8M | — |
| Accounts payable | $9.5M | $6.3M | $2.2M | $2.1M | $3.9M | $2.2M | — |
| Short-term debt | $5.7M | $6.3M | $0 | — | — | — | — |
| Total current liabilities | $82.2M | $58.2M | $14.0M | $13.2M | $16.9M | $6.6M | — |
| Long-term debt | $47.2M | — | — | — | — | — | — |
| Total liabilities | $289.1M | $76.8M | $16.4M | $17.1M | $30.2M | $6.7M | — |
| Retained earnings | -$1.12B | -$910.7M | -$342.8M | -$267.0M | -$162.8M | -$76.0M | — |
| Total equity | $305.7M | $463.8M | $605.1M | $655.1M | $746.0M | $215.1M | $117.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$173.4M | -$130.4M | -$68.0M | -$96.1M | -$68.2M | -$36.5M | — |
| Stock-based compensation | $35.9M | $32.3M | $19.5M | $16.3M | $9.3M | $2.2M | — |
| Capital expenditure | $8.0M | $0 | — | — | — | — | — |
| Investing cash flow | $99.5M | $122.7M | $8.9M | $63.5M | -$454.7M | -$70.3M | — |
| Financing cash flow | $202.5M | $331.0K | $628.0K | $1.3M | $625.5M | $133.1M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-014157.
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