Nuvation Bio reported second quarter revenue of $31.7 million, surpassing analyst estimates, driven by strong uptake of its lung cancer drug IBTROZI. However, the company posted a wider-than-expected net loss of $0.18 per share.
Key Highlights
- Total second quarter revenue reached $31.7 million, beating the $26.5 million consensus estimate, largely due to $23.2 million in net product revenue from IBTROZI.
- IBTROZI net product revenue grew 25% quarter-over-quarter, with the company noting it is now the most prescribed ROS1 inhibitor for new patients in 2026.
- The company reported a net loss of $62.8 million, or $(0.18) per share, missing the analyst consensus for a loss of $(0.14) per share.
- Nuvation Bio ended the quarter with a strong cash position of $661.0 million in cash, cash equivalents, and marketable securities.