NUVB · Nuvation Bio Inc.

Nuvation Bio reported its first quarter 2026 financial results, marking a significant milestone with its first full quarter of IBTROZI revenue since the drug's launch in late June 2025. Net product revenue from IBTROZI reached $18.5 million, driven by strong adoption with over 600 patients started on therapy, including approximately 200 new patients in Q1 2026, the majority of whom were TKI-naïve. The company also recognized $64.7 million in collaboration and license revenue, primarily due to a $58.7 million upfront payment from Eisai under the exclusive license agreement for taletrectinib in Europe and other territories. This revenue boost propelled the company to a net income of $5.4 million ($0.02 basic EPS), compared to a net loss of $53.2 million in the same period last year. Research and development expenses increased to $35.0 million from $24.6 million, driven by higher clinical trial costs and headcount. Selling, general, and administrative expenses rose to $38.3 million from $35.4 million, reflecting increased headcount and stock-based compensation, partially offset by lower sales and marketing spend. The company ended the quarter with a strong cash position of $533.7 million. Management highlighted the durability of IBTROZI's efficacy data presented at AACR 2026, including a median progression-free survival of 46.1 months in TKI-naïve patients, and the recent acquisition of global rights to safusidenib from Daiichi Sankyo, expanding the pipeline into IDH1-mutant glioma. The EMA validation of the MAA for taletrectinib and inclusion in NCCN guidelines for CNS cancers further support the drug's commercial potential. The company also appointed Stephen Dang as Chief Legal Officer in March 2026.