NYSE · Financial Statements

Nuvation Bio Inc. (NUVB) Financial Statements

$4.57 NYSE: NUVB Market Cap $1.60B

Nuvation Bio Inc. most recently reported annual revenue of $63.0M, a net loss of $205.0M. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Nuvation Bio Inc.: net profit was positive in 0 of 8 reported years; operating margin moved from -7527.3% to -338.7%, a shift of +7188.6 percentage points; the most recent year shows a net loss of $205.0M.

Income Statement — 8 Years (USD millions)

Metric20182019202020212022202320242025
Revenue$0$0$0$0$0$0$8.0M$63.0M
Operating Expenses$1.0M$32.0M$44.0M$93.0M$120.0M$100.0M$601.0M$276.0M
Operating Profit$-1.0M$-32.0M$-44.0M$-93.0M$-120.0M$-100.0M$-593.0M$-213.0M
Operating Margin0.0%0.0%0.0%0.0%0.0%0.0%-7527.3%-338.7%
Other Income$0$-1.0M$2.0M$6.0M$16.0M$24.0M$25.0M$8.0M
Interest$0$0$0$0$0$0$0$14.0M
Depreciation$1.0M$0$0$0$0$0$1.0M$2.0M
Profit Before Tax$-1.0M$-34.0M$-42.0M$-87.0M$-104.0M$-76.0M$-568.0M$-205.0M
Tax$0$0$0$0$0$0$0$0
Net Profit$-1.0M$-34.0M$-42.0M$-87.0M$-104.0M$-76.0M$-568.0M$-205.0M
EPS$-0.01$-0.16$-0.19$-0.44$-0.48$-0.35$-2.11$-0.60
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricSep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26
Revenue$0$0$0$1.0M$1.0M$6.0M$3.0M$5.0M$13.0M$42.0M$83.0M$32.0M
Operating Expenses$26.0M$21.0M$20.0M$472.0M$49.0M$60.0M$62.0M$68.0M$70.0M$76.0M$79.0M$83.0M
Operating Profit$-26.0M$-21.0M$-20.0M$-470.0M$-48.0M$-54.0M$-59.0M$-64.0M$-56.0M$-34.0M$4.0M$-51.0M
Operating Margin0.0%0.0%0.0%-32779.4%-6616.4%-944.5%-1913.2%-1315.7%-430.1%-81.3%4.7%-161.1%
Interest$0$0$0$0$0$0$0$0$7.0M$7.0M$7.0M$7.0M
Profit Before Tax$-20.0M$-14.0M$-15.0M$-462.0M$-41.0M$-49.0M$-53.0M$-59.0M$-56.0M$-37.0M$5.0M$-63.0M
Tax$0$0$0$0$0$0$0$0$0$0$0$0
Net Profit$-20.0M$-14.0M$-15.0M$-462.0M$-41.0M$-49.0M$-53.0M$-59.0M$-56.0M$-37.0M$5.0M$-63.0M
EPS$-0.09$-0.06$-0.07$-1.89$-0.15$-0.15$-0.16$-0.17$-0.16$-0.11$0.01$-0.18

Over the 8 years reported for Nuvation Bio Inc., borrowings increased from $1.0M in 2018 to $10.0M in 2025, cash stood at $164.0M in the latest year, shareholders' equity was $1.4B, current assets covered current liabilities 6.98 times.

Balance Sheet — 8 Years (USD millions)

Metric20182019202020212022202320242025
Total Assets$0$121.0M$222.0M$776.0M$672.0M$621.0M$541.0M$595.0M
Current Assets$0$120.0M$221.0M$772.0M$667.0M$616.0M$526.0M$572.0M
Cash$0$3.0M$30.0M$132.0M$101.0M$43.0M$36.0M$164.0M
Inventory$0$0$0$0$0$0$0$11.0M
Receivables$0$0$1.0M$3.0M$2.0M$4.0M$16.0M$19.0M
Fixed Assets$0$1.0M$1.0M$4.0M$5.0M$4.0M$3.0M$4.0M
Capital Work in Progress$0$0$0$0$0$0$0$0
Investments$0$115.0M$186.0M$633.0M$560.0M$569.0M$467.0M$365.0M
Other Assets$0$0$0$0$0$0$0$0
Total Liabilities$1.0M$3.0M$7.0M$30.0M$17.0M$16.0M$77.0M$289.0M
Current Liabilities$1.0M$3.0M$7.0M$17.0M$13.0M$14.0M$58.0M$82.0M
Borrowings$1.0M$0$0$3.0M$4.0M$4.0M$9.0M$10.0M
Other Liabilities$0$3.0M$7.0M$27.0M$13.0M$12.0M$68.0M$279.0M
Equity$0$10.0M$289.0M$910.0M$928.0M$948.0M$1.4B$1.4B
Reserves$-1.0M$118.0M$215.0M$746.0M$655.0M$605.0M$464.0M$306.0M

For Nuvation Bio Inc., operating cash flow was positive in 0 of 8 reported years; free cash flow in the latest year was negative at $174.0M; free cash flow was positive in 0 of 8 years.

Cash Flow Statement — 8 Years (USD millions)

Metric20182019202020212022202320242025
Operating Cash Flow$-1.0M$-24.0M$-37.0M$-68.0M$-96.0M$-68.0M$-130.0M$-173.0M
Investing Cash Flow$0$-117.0M$-70.0M$-455.0M$63.0M$9.0M$123.0M$99.0M
Financing Cash Flow$1.0M$129.0M$-3.0M$626.0M$1.0M$1.0M$0$0
Net Cash Flow$0$3.0M$26.0M$103.0M$-31.0M$-58.0M$-7.0M$128.0M
Free Cash Flow$-1.0M$-25.0M$-37.0M$-68.0M$-96.0M$-68.0M$-131.0M$-174.0M

Valuation & Return Ratios

MetricValue
PEG Ratio-0.36
EV / EBITDA-14.00
FCF Yield-4.64%
Quick Ratio8.14
Interest Coverage-5.16
Return 1Y178.72%
Return 3Y242.93%
Return 5Y-23.93%

Nuvation Bio Inc. (NUVB) financials — frequently asked questions

What is Nuvation Bio Inc.'s annual revenue?

Nuvation Bio Inc. (NUVB) reported annual revenue of $63.0M in its most recent fiscal year.

What is Nuvation Bio Inc.'s net profit?

Nuvation Bio Inc. (NUVB) reported a net loss of $205.0M in its most recent fiscal year.

What is NUVB EV/EBITDA?

Nuvation Bio Inc.'s enterprise value to EBITDA (EV/EBITDA) ratio is -14.00. A negative value means EBITDA was negative over the period, so the ratio is not a meaningful valuation measure.

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