Nuvation Bio (NUVB) AI Stock Analysis

• Market Cap: $1.94B
• Dividend Yield: N/A
• Average Volume (3M): 5.08M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.80
• Revenue Growth: 1137.19%
• EPS Growth: 70.51%
• Country: US
• Employees: 273
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.16
• Shares Outstanding: 342,833,440
• 10 Day Avg. Volume: 3,671,815
• 30 Day Avg. Volume: 5,075,741
• PEG Ratio: >-0.01
• Price to Book (P/B): 1.54
• Price to Sales (P/S): 90.81
• P/FCF Ratio: -5.48
• Enterprise Value/Market Cap: 0.96
• Enterprise Value/Revenue: 69.51
• Enterprise Value/Gross Profit: 128.11
• Enterprise Value/Ebitda: -8.65
• 1Y Price Target: $12.38
• Price Target Upside: 119.50% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 9
• EPS Forecast (FY): -0.41
• Revenue Forecast (FY): $176.60M

• Rating: 59 Neutral
• Price Target: $5.50 ▼(-2.48% Downside)
• Action: Reiterated Date: 01/12/26
• Date: Action: Reiterated 01/12/26

The score is held back primarily by weak financial performance (large losses and heavy cash burn) despite improving revenue and margins and a low-debt balance sheet. Offsetting positives include encouraging IBTROZI launch momentum and supportive clinical/commercial updates from the earnings call, plus a value-adding global partnership; technicals are moderately constructive, while valuation support is limited due to negative earnings and no dividend.

Positive Factors

Global Eisai partnership

The Eisai deal meaningfully derisks global commercialization for IBTROZI by outsourcing regional development/commercial execution and delivering immediate non-dilutive capital. It strengthens funding for pipeline programs, extends geographic reach, and reduces single-market execution risk over the next several years.

IBTROZI strong clinical & commercial start

A high response rate, an unusually long median duration of response, solid early uptake and rapid payer coverage indicate durable product-market fit. These attributes support sustained revenue generation, pricing power in ROS1 NSCLC and a defensible commercial position as testing and diagnosis expand.

Low leverage on balance sheet

Very low debt gives the company financial flexibility to fund costly clinical programs and commercialization without near-term heavy interest burdens. This reduces bankruptcy risk and preserves optionality for partnering or sequenced financing as clinical milestones materialize.

Negative Factors

High cash burn

Sustained negative operating and free cash flow of ~-$190M TTM means the company must rely on external financing or milestone receipts to fund R&D and commercial expansion. Over months this raises dilution risk, constrains discretionary investment, and pressures runway absent repeatable product cash generation.

Pipeline attrition: NUV-1511 discontinued

Dropping a candidate for efficacy reasons reduces pipeline breadth and destroys prior R&D investment. It increases concentration risk on fewer assets and signals challenges for the drug-drug conjugate platform, limiting future optionality and long-term value creation absent successful replacements.

IDH1 program uncertainty and trial cost

Regulatory demands for a randomized PFS benefit and the decision not to fund a >$100M head‑to‑head trial delay or limit potential label expansions. This elevates regulatory and commercial execution risk for safusidenib and may force reliance on larger partners or alternative, slower approval pathways.

Nuvation Bio Business Overview & Revenue Model

Company Description

Nuvation Bio Inc., a clinical-stage biopharmaceutical company, focuses on the development of therapeutic candidates for oncology. The company's lead product candidate is NUV-422, a small molecule inhibitor targeting cyclin-dependent kinase (CDK)2, CDK4, and CDK6. It is also developing NUV-868, a selective oral small molecule BET inhibitor that epigenetically regulates proteins that control tumor growth and differentiation; NUV-569, a differentiated oral small molecule selective inhibitor of the Wee1 kinase for DNA damage repair; NUV-1182, an adenosine receptor inhibitor; and drug-drug conjugate (DDC) platform that focuses on targeting an inhibitor of poly ADP ribose polymerase (PARP) to anti-cancer warheads of existing drugs, as well as PARP inhibitor to address ER+ breast and ovarian cancer. The company was formerly known as RePharmation Inc. and changed its name to Nuvation Bio Inc. in April 2019. Nuvation Bio Inc. was founded in 2018 and is headquartered in New York, New York.

How the Company Makes Money

Nuvation Bio makes money primarily through the development and commercialization of its pharmaceutical products. The company generates revenue from various streams, including partnerships with other biotech and pharmaceutical companies, licensing agreements, and potential future sales of its drug candidates once they receive regulatory approval. Significant partnerships with industry players or research institutions can also provide funding and collaborative opportunities, contributing to the company's financial growth. Additionally, Nuvation Bio may engage in strategic collaborations to enhance its research and development capabilities, which can also lead to milestone payments and royalties that serve as key revenue streams.

Nuvation Bio Financial Statement Overview

Summary

Revenue and gross margin improved materially (TTM revenue ~$26.7M; gross margin ~54%), but profitability and cash generation remain very weak (TTM net margin about -813%; operating cash flow/free cash flow around -$190M). The balance sheet is a relative strength with low leverage (debt-to-equity ~0.03), though ongoing losses imply continued financing/dilution risk.

Income Statement

TTM (Trailing-Twelve-Months) revenue improved to ~$26.7M with strong growth versus the prior period, and gross margin expanded materially (~54% TTM vs ~10% in 2024). However, profitability remains very weak: TTM net margin is deeply negative (about -813%), reflecting heavy operating losses (negative EBIT/EBITDA) and a cost structure that still far exceeds the current revenue base.

Balance Sheet

Leverage is low, with total debt modest relative to equity (debt-to-equity ~0.03 TTM), which reduces near-term balance sheet risk. That said, equity has trended down from 2021–2024, and returns on equity are significantly negative (TTM return on equity around -55%), highlighting ongoing losses that can continue to erode the capital base if not offset by financing or improved operating performance.

Cash Flow

Cash generation is a clear weakness: TTM operating cash flow and free cash flow are both around -$190M, indicating substantial cash burn. While free cash flow showed a positive growth rate in TTM versus 2024 (less negative), cash flow remains heavily dependent on funding rather than self-sustaining operations, and cash burn continues to track closely with net losses.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	26.75M	7.87M	0.00	0.00	0.00	0.00
Gross Profit	14.51M	795.00K	0.00	0.00	0.00	-103.00K
EBITDA	-215.00M	-566.91M	-75.58M	-119.53M	-93.13M	-41.56M
Net Income	-217.48M	-567.94M	-75.80M	-104.20M	-86.85M	-41.66M
Balance Sheet
Total Assets	601.56M	540.63M	621.48M	672.14M	776.15M	221.79M
Cash, Cash Equivalents and Short-Term Investments	549.04M	502.69M	611.21M	661.01M	765.39M	215.75M
Total Debt	57.55M	8.91M	4.01M	4.26M	3.06M	0.00
Total Liabilities	275.68M	76.84M	16.36M	17.07M	30.15M	6.71M
Stockholders Equity	325.88M	463.79M	605.12M	655.08M	746.00M	215.08M
Cash Flow
Free Cash Flow	-190.25M	-130.57M	-68.07M	-96.48M	-68.47M	-36.67M
Operating Cash Flow	-190.00M	-130.41M	-68.00M	-96.11M	-68.19M	-36.53M
Investing Cash Flow	64.21M	122.70M	8.92M	63.46M	-454.67M	-70.32M
Financing Cash Flow	193.57M	331.00K	628.00K	1.33M	625.53M	133.13M

Nuvation Bio Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 5.64
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NUVB, the sentiment is Neutral. The current price of 5.64 is above the 20-day moving average (MA) of 5.63, below the 50-day MA of 6.99, and above the 200-day MA of 4.36, indicating a neutral trend. The MACD of -0.29 indicates Negative momentum. The RSI at 41.73 is Neutral, neither overbought nor oversold. The STOCH value of 26.86 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for NUVB.

Nuvation Bio Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PRAX	67 Neutral	$9.54B	―	-45.83%	―	364.98%	-25.33%
NUVB	59 Neutral	$1.94B	-8.81	-52.49%	―	1137.19%	70.51%
PGEN	59 Neutral	$1.41B	-2.84	-507.72%	―	59.20%	-155.65%
ELVN	56 Neutral	$1.68B	-15.34	-25.43%	―	―	3.18%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
WVE	49 Neutral	$2.57B	-18.76	-86.51%	―	103.75%	33.84%
NKTR	47 Neutral	$1.91B	-8.62	-180.24%	―	-32.79%	36.87%

Nuvation Bio Corporate Events

Nuvation Bio Expands Global Reach with Eisai Partnership

On January 11, 2026, Nuvation Bio entered into an exclusive license and collaboration agreement with Eisai granting Eisai rights to develop and commercialize taletrectinib (IBTROZI) across Europe, a wide swath of the Middle East and North Africa, Russia, Turkey, Canada, Australia, New Zealand and key Asia‑Pacific markets, in return for an upfront €50 million payment, a near-term €25 million regulatory milestone, up to €120 million in sales milestones, and tiered royalties on net sales. The deal, announced publicly on January 12, 2026, strengthens Nuvation Bio’s financial position and global reach for IBTROZI, complementing strong early U.S. commercial traction in 2025—432 new patient starts since the mid‑June FDA approval and preliminary net product revenue of $24.7 million for the year—while supporting continued investment in its pipeline, including a pivotal phase 3 trial of safusidenib and further development of its drug‑drug conjugate platform.

The most recent analyst rating on (NUVB) stock is a Hold with a $10.00 price target. To see the full list of analyst forecasts on Nuvation Bio stock, see the NUVB Stock Forecast page.

Nuvation Bio Discontinues NUV-1511 Due to Efficacy Issues

On November 26, 2025, Nuvation Bio announced the discontinuation of NUV-1511, a compound from its drug-drug conjugate program, due to inconsistent efficacy. The company plans to redirect resources to other pipeline molecules and next-generation DDC candidates, while continuing to advance its other programs, including the commercial launch of IBTROZI and the development of safusidenib.

The most recent analyst rating on (NUVB) stock is a Buy with a $10.00 price target. To see the full list of analyst forecasts on Nuvation Bio stock, see the NUVB Stock Forecast page.

Nuvation Bio Reports Positive Phase 2 Study Results

On November 8, 2025, Nuvation Bio announced positive results from a Phase 2 study of safusidenib in Japanese patients with IDH1-mutant gliomas, showing a 44.4% objective response rate and long-term potential to delay disease progression. The study highlighted the drug’s promising efficacy and manageable adverse events, despite a Good Clinical Practice noncompliance issue related to safety reporting. The company is advancing the G203 study to a global Phase 3 trial to support potential regulatory approvals, aiming to expand its market positioning in high-grade IDH1-mutant gliomas.

The most recent analyst rating on (NUVB) stock is a Buy with a $8.00 price target. To see the full list of analyst forecasts on Nuvation Bio stock, see the NUVB Stock Forecast page.