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
Where the revenue comes from as reported in the latest 10-K
Revenue by geography
- Japan
- United States
- China
| Region | FY2025 |
|---|---|
| Japan | $28.8M |
| United States | $24.7M |
| China | $9.4M |
As the company reported it, from the “REVENUE RECOGNITION - Schedule of Revenues By Geographic Region (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.
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.) | 341,541 | 268,772 | 218,880 | 216,721 | 197,887 | — | — |
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.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | $0 | $7.9M | $62.9M |
| Gross profit | — | — | — | — | $0 | $795.0K | — |
| Net income | — | -$41.7M | -$86.8M | -$104.2M | -$75.8M | -$567.9M | -$204.6M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
- New debt or obligation Item 2.03
- Other event Item 8.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Material agreement signed Item 1.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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