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Nuvation Bio Inc.

EDGAR
NUVB Quarterly report (10-Q) · filed 2026-08-06

Annual consolidated revenue for 2025: about USD 62.9M, using the latest reported figures. The previous period, 2024, was about USD 7.873M.

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Latest quarter

Revenue

31.7 million USD

2026 Q2 · USD

Exact inputs and evidence

Operating margin

-161.06%

2026 Q2 · %

Exact inputs and evidence
  • Operating Income: -51036000 USD Source
  • Revenue: 31687000 USD Source

Operating cash flow

-43 million USD

2026 Q2 · USD

Exact inputs and evidence
  • Operating Cash Flow: -37900000 USD Source
  • Operating Cash Flow: 5100000 USD Source
Cash and cash equivalents
259 million USD Source
Exact value

258604000 USD

Long-term debt including current maturities
243 million USD Source
Exact value

242624000 USD

Shares outstanding
347 million shares Source
Exact value

346503675 shares

Reported share-count change

2.57% · 8.67 million shares

Year-over-year change in reported shares. Splits, issuance and buybacks can affect this figure; it does not isolate employee compensation or economic dilution.

Exact inputs and evidence
  • 337837872 shares · 2025-06-30· Source
  • 346503675 shares · 2026-06-30· Source

Trailing twelve months

The four most recent complete quarters added together. This gives a full-year view that includes the latest quarterly results.

Revenue

170 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Revenue: 13120000 USD · 2025-07-01 – 2025-09-30 Source
  • Revenue: 62902000 USD · 2025-01-01 – 2025-12-31 Source
  • Revenue: 21037000 USD · 2025-01-01 – 2025-09-30 Source
  • Revenue: 83228000 USD · 2026-01-01 – 2026-03-31 Source
  • Revenue: 31687000 USD · 2026-04-01 – 2026-06-30 Source

Net income

-150 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Net income: -55792000 USD · 2025-07-01 – 2025-09-30 Source
  • Net income: -204627000 USD · 2025-01-01 – 2025-12-31 Source
  • Net income: -168035000 USD · 2025-01-01 – 2025-09-30 Source
  • Net income: 5397000 USD · 2026-01-01 – 2026-03-31 Source
  • Net income: -62840000 USD · 2026-04-01 – 2026-06-30 Source

Operating cash flow

-120 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Operating cash flow: -143700000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: -90805000 USD · 2025-01-01 – 2025-06-30 Source
  • Operating cash flow: -173400000 USD · 2025-01-01 – 2025-12-31 Source
  • Operating cash flow: -143700000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 5100000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: -37900000 USD · 2026-01-01 – 2026-06-30 Source
  • Operating cash flow: 5100000 USD · 2026-01-01 – 2026-03-31 Source

Company performance

Up to ten complete financial years · consolidated figures

Includes later revisions to earlier periods. Annual charts exclude incomplete years.

Latest filing recorded: 2026-08-06.

Financial data available through: 2025-12-31.

Coverage by financial measure
  • Revenue: 3 of 11 periods available· newest 2025-12-31
  • Operating income: 6 of 11 periods available· newest 2025-12-31
  • Net income: 6 of 11 periods available· newest 2025-12-31
  • Operating cash flow: 6 of 11 periods available· newest 2025-12-31
  • capital expenditure: No compatible figures in this window
  • Total assets: 3 of 11 periods available· newest 2025-12-31
  • Total liabilities: 3 of 11 periods available· newest 2025-12-31
  • Current assets: 3 of 11 periods available· newest 2025-12-31
  • Current liabilities: 3 of 11 periods available· newest 2025-12-31
  • Cash and cash equivalents: 3 of 11 periods available· newest 2025-12-31
  • Long-term debt including current maturities: 1 of 11 periods available· newest 2025-12-31
  • Shares outstanding: 3 of 11 periods available· newest 2025-12-31

Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.

What changed year over year

Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.

  • Revenue

    +699%

    Prior period

    USD 7.87 million

    –

    Current period

    USD 62.9 million

    –

    Exact inputs and evidence

    62902000 − 7873000 = 55029000 USD

    7873000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    62902000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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  • Net income

    +USD 363.31 million

    Prior period

    −USD 567.94 million

    –

    Current period

    −USD 204.63 million

    –

    Exact inputs and evidence

    -204627000 − -567939000 = 363312000 USD

    -567939000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    -204627000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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  • Operating cash flow

    −USD 42.99 million

    Prior period

    −USD 130.41 million

    –

    Current period

    −USD 173.4 million

    –

    Exact inputs and evidence

    -173400000 − -130413000 = -42987000 USD

    -130413000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    -173400000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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Comparable inputs unavailable for: Capital expenditure.

Where revenue goes

How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.

2025 2025-01-01 – 2025-12-31

  • Revenue USD 62.9 million 100% of revenue
  • Operating costs Derived USD 275.97 million 439% of revenue
  • Operating income −USD 213.06 million −339% of revenue
  • Tax, interest and other Derived −USD 8.44 million −13% of revenue
  • Net income −USD 204.63 million −325% of revenue

Cash

  • Operating cash flow −USD 173.4 million −276% of revenue
  • Capital expenditure Unavailable An input is unavailable.
  • Free cash flow Derived Unavailable An input is unavailable.

Share of revenue by period

  • Net income
  • Tax, interest and other
  • Operating costs
  • 2023 Not shown: operating income or net income is not reported.
  • 2024 Operating loss: operating costs were 7,627% of revenue.
  • 2025 Operating loss: operating costs were 439% of revenue.
Values and sources
Revenue breakdown by annual reporting period
PeriodRevenueOperating costsOperating incomeTax, interest and otherNet incomeFree cash flowSource
2023 2023-01-01 – 2023-12-310 99822000 Derived -99822000 -24020000 Derived -75802000 Unavailable
Source
2024 2024-01-01 – 2024-12-317873000 600500000 Derived -592627000 -24688000 Derived -567939000 Unavailable
Source
2025 2025-01-01 – 2025-12-3162902000 275966000 Derived -213064000 -8437000 Derived -204627000 Unavailable
Source

Amounts are exact, in USD.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

USD 62.9M 2025
Revenue historyRevenue reported for each complete financial period. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.67.9M51.0M34.0M17.0M0.0202320242025
Values and sources
Revenue values and source evidence
PeriodSeriesValue(USD)Source evidence
2023Revenue0
2024Revenue7873000
2025Revenue62902000

Revenue growth

Change in revenue from the same financial period one year earlier.

699% 2025
Revenue growth historyChange in revenue from the same financial period one year earlier. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.755%566%377%189%0%202320242025
Values and sources
Revenue growth values and source evidence
PeriodSeriesValueSource evidence
2023Year over yearNo prior comparable period
2024Year over yearNo prior comparable period
2025Year over year699%

Profit and cash

How much revenue becomes profit, and how much cash operations generate.

Profit margins

Operating income, net income and free cash flow as a share of revenue.

Operating margin -338.7% 2025
Net margin -325.3% 2025
Profit margins historyOperating income, net income and free cash flow as a share of revenue. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.602%-1,581%-3,764%-5,947%-8,130%202320242025
  • Operating margin
  • Net margin
  • Free cash flow margin
Values and sources
Profit margins values and source evidence
PeriodSeriesValueSource evidence
2023Operating marginNot reported
2024Operating margin-7,527.3%
2025Operating margin-338.7%
2023Net marginNot reported
2024Net margin-7,213.8%
2025Net margin-325.3%
2023Free cash flow marginNot reported
2024Free cash flow marginNot reported
2025Free cash flow marginNot reported

Operating cash flow

Cash generated by the company’s normal business operations.

USD -173.4M 2025
Operating cash flow historyCash generated by the company’s normal business operations. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.13.9M-36.4M-86.7M-137.0M-187.3M202320242025
Values and sources
Operating cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2023Operating cash flow-67999000
2024Operating cash flow-130413000
2025Operating cash flow-173400000

Free cash flow

Operating cash flow minus capital expenditure for the same period and unit.

Not enough comparable data to show this history.
Values and sources
Free cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2023Free cash flowUnavailable
2024Free cash flowUnavailable
2025Free cash flowUnavailable

Balance sheet

Liabilities and short-term ability to meet obligations at each period end.

Liabilities to assets

Total liabilities as a share of total assets.

48.6% 2025
Liabilities to assets historyTotal liabilities as a share of total assets. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.52%39%26%13%0%202320242025
Values and sources
Liabilities to assets values and source evidence
PeriodSeriesValueSource evidence
2023Liabilities / assets2.6%
2024Liabilities / assets14.2%
2025Liabilities / assets48.6%

Current assets to current liabilities

Current assets divided by current liabilities.

6.95× 2025
Current assets to current liabilities historyCurrent assets divided by current liabilities. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.47.64×35.73×23.82×11.91×0.00×202320242025
Values and sources
Current assets to current liabilities values and source evidence
PeriodSeriesValueSource evidence
2023Current assets / current liabilities44.11×
2024Current assets / current liabilities9.04×
2025Current assets / current liabilities6.95×

Cash generation

Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.

Cash generation by annual reporting period
PeriodNet incomeOperating cash flowCapital expenditureFree cash flow
2020 2020-01-01 – 2020-12-31
−USD 41.66 million
Exact value

Exact value: -41659000 USD

2020-01-01 – 2020-12-31: -41659000 USD Inspect Net Income Open source
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−USD 36.53 million
Exact value

Exact value: -36529000 USD

2020-01-01 – 2020-12-31: -36529000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2021 2021-01-01 – 2021-12-31
−USD 86.85 million
Exact value

Exact value: -86848000 USD

2021-01-01 – 2021-12-31: -86848000 USD Inspect Net Income Open source
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−USD 68.19 million
Exact value

Exact value: -68190000 USD

2021-01-01 – 2021-12-31: -68190000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2022 2022-01-01 – 2022-12-31
−USD 104.2 million
Exact value

Exact value: -104199000 USD

2022-01-01 – 2022-12-31: -104199000 USD Inspect Net Income Open source
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−USD 96.11 million
Exact value

Exact value: -96108000 USD

2022-01-01 – 2022-12-31: -96108000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2023 2023-01-01 – 2023-12-31
−USD 75.8 million
Exact value

Exact value: -75802000 USD

2023-01-01 – 2023-12-31: -75802000 USD Inspect Net Income Open source
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−USD 68 million
Exact value

Exact value: -67999000 USD

2023-01-01 – 2023-12-31: -67999000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2024 2024-01-01 – 2024-12-31
−USD 567.94 million
Exact value

Exact value: -567939000 USD

2024-01-01 – 2024-12-31: -567939000 USD Inspect Net Income Open source
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−USD 130.41 million
Exact value

Exact value: -130413000 USD

2024-01-01 – 2024-12-31: -130413000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2025 2025-01-01 – 2025-12-31
−USD 204.63 million
Exact value

Exact value: -204627000 USD

2025-01-01 – 2025-12-31: -204627000 USD Inspect Net Income Open source
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−USD 173.4 million
Exact value

Exact value: -173400000 USD

2025-01-01 – 2025-12-31: -173400000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.

Dataset coverage and company identifiers

Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.

33 filings · 1,617 latest values · 1,617 originally reported values

Dataset published . Source filing dates and reporting periods are shown separately.

Identifiers: 0001811063, 1811063, NUVB, edgar:1811063

Also known as NUVATION BIO INC., Nuvation Bio Inc., Panacea Acquisition Corp, Panacea Acquisition Corp.