Nuvation Bio (NUVB)
Market Price (9/21/2026): $5.88 | Market Cap: $2.1 BilSector: Health Care | Industry: Biotechnology
Nuvation Bio (NUVB)
Market Price (9/21/2026): $5.88Market Cap: $2.1 BilSector: Health CareIndustry: Biotechnology
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -20% Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 1084% Megatrend and thematic driversMegatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Biopharmaceutical R&D, Targeted Therapies, Show more. | Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.67, Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 16% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -138 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -81% Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 21% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -71%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -76% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -11% Key risksNUVB key risks include [1] high cash burn and financial dependence on revenue from its single product, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -20% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 1084% |
| Megatrend and thematic driversMegatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Biopharmaceutical R&D, Targeted Therapies, Show more. |
| Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.67, Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 16% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -138 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -81% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 21% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -71%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -76% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -11% |
| Key risksNUVB key risks include [1] high cash burn and financial dependence on revenue from its single product, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Updated on 9/14/2026
Nuvation Bio (NUVB) stock has gained about 20% since 5/31/2026 because of the following key factors:
1. Strong Commercial Performance of IBTROZI Drove Revenue Growth.
Nuvation Bio reported total revenue of $31.7 million for fiscal Q2 2026 (ended June 30, 2026), exceeding analysts' consensus estimates of $27.03 million. This was largely propelled by IBTROZI (taletrectinib) net product revenue, which grew approximately 25% quarter-over-quarter to $23.2 million. The drug also became the most prescribed ROS1 TKI in both first-line and overall new patient starts in 2026, with approximately 85% of the 160 new patients being TKI-naïve, reflecting a ~30% quarter-over-quarter growth in this setting.
2. Significant Advancements in the Safusidenib Clinical Program.
The company announced positive updated long-term Phase 2 data for safusidenib on July 20, 2026, for patients with chemotherapy- and radiotherapy-naïve grade 2 IDH1-mutant glioma. Key findings included a centrally assessed Objective Response Rate (ORR) of 51.9% and a 36-month Progression-Free Survival (PFS) rate of 79.1%. This positive data supported the expansion of its clinical program with two new studies, including the initiation of a pivotal Phase 3 study. Further bolstering confidence, safusidenib was granted FDA Fast Track Designation on August 20, 2026, which is expected to expedite its development and review process.
Show more
Nuvation Bio (NUVB) stock has gained about 20% since 5/31/2026 because of the following key factors:
1. Strong Commercial Performance of IBTROZI Drove Revenue Growth.
Nuvation Bio reported total revenue of $31.7 million for fiscal Q2 2026 (ended June 30, 2026), exceeding analysts' consensus estimates of $27.03 million. This was largely propelled by IBTROZI (taletrectinib) net product revenue, which grew approximately 25% quarter-over-quarter to $23.2 million. The drug also became the most prescribed ROS1 TKI in both first-line and overall new patient starts in 2026, with approximately 85% of the 160 new patients being TKI-naïve, reflecting a ~30% quarter-over-quarter growth in this setting.
2. Significant Advancements in the Safusidenib Clinical Program.
The company announced positive updated long-term Phase 2 data for safusidenib on July 20, 2026, for patients with chemotherapy- and radiotherapy-naïve grade 2 IDH1-mutant glioma. Key findings included a centrally assessed Objective Response Rate (ORR) of 51.9% and a 36-month Progression-Free Survival (PFS) rate of 79.1%. This positive data supported the expansion of its clinical program with two new studies, including the initiation of a pivotal Phase 3 study. Further bolstering confidence, safusidenib was granted FDA Fast Track Designation on August 20, 2026, which is expected to expedite its development and review process.
Show more
Updated on 9/14/2026
Nuvation Bio (NUVB) stock has gained about 20% since 5/31/2026 because of the following key factors:
1. Strong Commercial Performance of IBTROZI Drove Revenue Growth.
Nuvation Bio reported total revenue of $31.7 million for fiscal Q2 2026 (ended June 30, 2026), exceeding analysts' consensus estimates of $27.03 million. This was largely propelled by IBTROZI (taletrectinib) net product revenue, which grew approximately 25% quarter-over-quarter to $23.2 million. The drug also became the most prescribed ROS1 TKI in both first-line and overall new patient starts in 2026, with approximately 85% of the 160 new patients being TKI-naïve, reflecting a ~30% quarter-over-quarter growth in this setting.
2. Significant Advancements in the Safusidenib Clinical Program.
The company announced positive updated long-term Phase 2 data for safusidenib on July 20, 2026, for patients with chemotherapy- and radiotherapy-naïve grade 2 IDH1-mutant glioma. Key findings included a centrally assessed Objective Response Rate (ORR) of 51.9% and a 36-month Progression-Free Survival (PFS) rate of 79.1%. This positive data supported the expansion of its clinical program with two new studies, including the initiation of a pivotal Phase 3 study. Further bolstering confidence, safusidenib was granted FDA Fast Track Designation on August 20, 2026, which is expected to expedite its development and review process.
3. Positive Regulatory Progress for IBTROZI.
Nuvation Bio received significant regulatory updates for IBTROZI, an approved treatment for ROS1-positive non-small cell lung cancer (NSCLC). The FDA accepted a supplemental New Drug Application (sNDA) for IBTROZI in May 2026, with a target action date of January 4, 2027, including updated efficacy data with a median Duration of Response (mDOR) of 49.7 months and median Progression-Free Survival (mPFS) of 49.6 months in TKI-naïve patients. Additionally, the Medicines and Healthcare products Regulatory Agency (MHRA) in the United Kingdom validated the Marketing Authorisation Application (MAA) for taletrectinib on June 29, 2026, signaling progress towards European market access.
4. Favorable Analyst Sentiment and Price Target Upgrades.
During this period, Nuvation Bio maintained a consensus "Moderate Buy" rating from Wall Street analysts. Analysts generally expressed optimism, with the average 12-month price target ranging from $13.00 to $14.50, representing a significant upside of 104% to 119% from recent stock prices. Notably, H.C. Wainwright raised its price target for NUVB to $21 from $17 following the updated safusidenib results.
Show less
Nuvation Bio (NUVB) stock has gained about 20% since 5/31/2026 because of the following key factors:
1. Strong Commercial Performance of IBTROZI Drove Revenue Growth.
Nuvation Bio reported total revenue of $31.7 million for fiscal Q2 2026 (ended June 30, 2026), exceeding analysts' consensus estimates of $27.03 million. This was largely propelled by IBTROZI (taletrectinib) net product revenue, which grew approximately 25% quarter-over-quarter to $23.2 million. The drug also became the most prescribed ROS1 TKI in both first-line and overall new patient starts in 2026, with approximately 85% of the 160 new patients being TKI-naïve, reflecting a ~30% quarter-over-quarter growth in this setting.
2. Significant Advancements in the Safusidenib Clinical Program.
The company announced positive updated long-term Phase 2 data for safusidenib on July 20, 2026, for patients with chemotherapy- and radiotherapy-naïve grade 2 IDH1-mutant glioma. Key findings included a centrally assessed Objective Response Rate (ORR) of 51.9% and a 36-month Progression-Free Survival (PFS) rate of 79.1%. This positive data supported the expansion of its clinical program with two new studies, including the initiation of a pivotal Phase 3 study. Further bolstering confidence, safusidenib was granted FDA Fast Track Designation on August 20, 2026, which is expected to expedite its development and review process.
3. Positive Regulatory Progress for IBTROZI.
Nuvation Bio received significant regulatory updates for IBTROZI, an approved treatment for ROS1-positive non-small cell lung cancer (NSCLC). The FDA accepted a supplemental New Drug Application (sNDA) for IBTROZI in May 2026, with a target action date of January 4, 2027, including updated efficacy data with a median Duration of Response (mDOR) of 49.7 months and median Progression-Free Survival (mPFS) of 49.6 months in TKI-naïve patients. Additionally, the Medicines and Healthcare products Regulatory Agency (MHRA) in the United Kingdom validated the Marketing Authorisation Application (MAA) for taletrectinib on June 29, 2026, signaling progress towards European market access.
4. Favorable Analyst Sentiment and Price Target Upgrades.
During this period, Nuvation Bio maintained a consensus "Moderate Buy" rating from Wall Street analysts. Analysts generally expressed optimism, with the average 12-month price target ranging from $13.00 to $14.50, representing a significant upside of 104% to 119% from recent stock prices. Notably, H.C. Wainwright raised its price target for NUVB to $21 from $17 following the updated safusidenib results.
Show less
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Stock Movement Drivers
Fundamental Drivers
The 22.4% change in NUVB stock from 5/31/2026 to 9/20/2026 was primarily driven by a 18.8% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 5312026 | 9202026 | Change |
|---|---|---|---|
| Stock Price ($) | 4.78 | 5.85 | 22.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 143 | 170 | 18.8% |
| P/S Multiple | 11.6 | 12.0 | 3.5% |
| Shares Outstanding (Mil) | 347 | 349 | -0.4% |
| Cumulative Contribution | 22.4% |
Market Drivers
5/31/2026 to 9/20/2026| Return | Correlation | |
|---|---|---|
| NUVB | 22.4% | |
| Market (SPY) | 0.9% | 25.6% |
| Sector (XLV) | 12.7% | 17.8% |
Fundamental Drivers
The -1.0% change in NUVB stock from 2/28/2026 to 9/20/2026 was primarily driven by a -84.1% change in the company's P/S Multiple.| (LTM values as of) | 2282026 | 9202026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.91 | 5.85 | -1.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 27 | 170 | 535.2% |
| P/S Multiple | 75.7 | 12.0 | -84.1% |
| Shares Outstanding (Mil) | 342 | 349 | -1.8% |
| Cumulative Contribution | -1.0% |
Market Drivers
2/28/2026 to 9/20/2026| Return | Correlation | |
|---|---|---|
| NUVB | -1.0% | |
| Market (SPY) | 11.6% | 36.4% |
| Sector (XLV) | 5.5% | 29.4% |
Fundamental Drivers
The 97.0% change in NUVB stock from 8/31/2025 to 9/20/2026 was primarily driven by a 1083.6% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 8312025 | 9202026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.97 | 5.85 | 97.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 14 | 170 | 1083.6% |
| P/S Multiple | 70.5 | 12.0 | -83.0% |
| Shares Outstanding (Mil) | 341 | 349 | -2.3% |
| Cumulative Contribution | 97.0% |
Market Drivers
8/31/2025 to 9/20/2026| Return | Correlation | |
|---|---|---|
| NUVB | 97.0% | |
| Market (SPY) | 19.4% | 25.2% |
| Sector (XLV) | 24.1% | 22.5% |
Fundamental Drivers
The 256.7% change in NUVB stock from 8/31/2023 to 9/20/2026 was primarily driven by a 9.2233720368547763E17% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 8312023 | 9202026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.64 | 5.85 | 256.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 170 | 9.2233720368547763E17% |
| P/S Multiple | ∞ | 12.0 | |
| Shares Outstanding (Mil) | 219 | 349 | -37.3% |
| Cumulative Contribution | 0.0% |
Market Drivers
8/31/2023 to 9/20/2026| Return | Correlation | |
|---|---|---|
| NUVB | 256.7% | |
| Market (SPY) | 75.6% | 28.4% |
| Sector (XLV) | 32.3% | 24.9% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| NUVB Return | -27% | -77% | -21% | 76% | 237% | -32% | -48% |
| Peers Return | 9% | -6% | -27% | 5% | -3% | 24% | -7% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 103% |
Monthly Win Rates [3] | |||||||
| NUVB Win Rate | 42% | 25% | 50% | 50% | 58% | 67% | |
| Peers Win Rate | 53% | 47% | 33% | 55% | 60% | 62% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 44% | |
Max Drawdowns [4] | |||||||
| NUVB Max Drawdown | -47% | -81% | -61% | -49% | -49% | -55% | |
| Peers Max Drawdown | -30% | -39% | -41% | -37% | -39% | -29% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: AGIO, BMY, PFE, GILD, STRO.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/18/2026 (YTD)
How Low Can It Go
| Event | NUVB | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -27.8% | -18.8% |
| % Gain to Breakeven | 38.6% | 23.1% |
| Time to Breakeven | 29 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -15.6% | -7.8% |
| % Gain to Breakeven | 18.5% | 8.5% |
| Time to Breakeven | 9 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -46.8% | -9.5% |
| % Gain to Breakeven | 87.8% | 10.5% |
| Time to Breakeven | 118 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -27.8% | -6.7% |
| % Gain to Breakeven | 38.5% | 7.1% |
| Time to Breakeven | 289 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -77.5% | -24.5% |
| % Gain to Breakeven | 343.7% | 32.4% |
| Time to Breakeven | 1184 days | 427 days |
In The Past
Nuvation Bio's stock fell -27.8% during the 2025 US Tariff Shock. Such a loss loss requires a 38.6% gain to breakeven.
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Asset Allocation
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| Event | NUVB | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -27.8% | -18.8% |
| % Gain to Breakeven | 38.6% | 23.1% |
| Time to Breakeven | 29 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -46.8% | -9.5% |
| % Gain to Breakeven | 87.8% | 10.5% |
| Time to Breakeven | 118 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -27.8% | -6.7% |
| % Gain to Breakeven | 38.5% | 7.1% |
| Time to Breakeven | 289 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -77.5% | -24.5% |
| % Gain to Breakeven | 343.7% | 32.4% |
| Time to Breakeven | 1184 days | 427 days |
In The Past
Nuvation Bio's stock fell -27.8% during the 2025 US Tariff Shock. Such a loss loss requires a 38.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Nuvation Bio (NUVB)
Nuvation Bio Inc. (NUVB) is a clinical-stage biopharmaceutical company dedicated to discovering and developing innovative therapeutic candidates for oncology, focusing on various types of cancer. The company leverages cutting-edge scientific approaches to create novel small molecule inhibitors and drug-drug conjugates, aiming to address significant unmet medical needs in cancer treatment.
The company's pipeline features several promising product candidates. NUV-422 is a lead small molecule inhibitor targeting cyclin-dependent kinases (CDK) 2, 4, and 6, which play crucial roles in cell cycle regulation. Other key programs include NUV-868, a selective oral small molecule BET inhibitor that epigenetically regulates proteins involved in tumor growth; NUV-569, a differentiated oral small molecule selective inhibitor of Wee1 kinase for DNA damage repair; and NUV-1182, an adenosine receptor inhibitor. These candidates target distinct mechanisms critical to cancer proliferation and survival.
Beyond its small molecule pipeline, Nuvation Bio is also advancing a proprietary Drug-Drug Conjugate (DDC) platform. This platform focuses on precisely delivering inhibitors of poly ADP ribose polymerase (PARP) to anti-cancer warheads of existing drugs, with specific applications for treating cancers such as ER+ breast and ovarian cancer. Ultimately, Nuvation Bio's primary market is patients with various cancers, seeking to provide them with new and effective treatment options within the expansive and critical field of oncology.
AI Analysis | Feedback
1. An early-stage Genentech focused purely on developing new cancer therapies.
2. A biotech startup trying to discover the next breakthroughs in cancer treatment, much like a young Amgen in its early days.
3. A nascent Merck, but exclusively dedicated to inventing novel oncology drugs from the ground up.
AI Analysis | Feedback
- NUV-422: A small molecule inhibitor targeting cyclin-dependent kinase (CDK)2, CDK4, and CDK6.
- NUV-868: A selective oral small molecule BET inhibitor that epigenetically regulates proteins controlling 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.
- Drug-Drug Conjugate (DDC) platform: Focuses on targeting PARP inhibitors to anti-cancer warheads of existing drugs for conditions like ER+ breast and ovarian cancer.
AI Analysis | Feedback
Nuvation Bio Inc. (NUVB) is a clinical-stage biopharmaceutical company focused on the development of therapeutic candidates for oncology. As a clinical-stage company, its product candidates are currently undergoing research and development and clinical trials and have not yet received regulatory approval for commercial sale. Therefore, Nuvation Bio Inc. does not currently have major customers in the traditional sense that purchase its therapeutic products.
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David Hung, M.D. - Founder, President, Chief Executive Officer, and Chairman
Dr. Hung founded Nuvation Bio in 2018. He previously founded Medivation, Inc. in 2003, which was acquired by Pfizer for $14.3 billion in 2016. Prior to Medivation, he served as President and CEO of ProDuct Health, Inc., a venture-backed startup he founded, which was acquired by Cytyc Corporation for $168 million in 2001. Between Medivation and founding Nuvation Bio, Dr. Hung served as Chief Executive Officer at Axovant Sciences for 10 months.
Philippe Sauvage - Chief Financial Officer and Principal Financial Officer
Mr. Sauvage joined Nuvation Bio in 2024, bringing more than 20 years of experience in global operations and finance. He previously served as Global Head of Operations and Access at Sanofi, where his roles also included Chief Financial Officer for Sanofi-Genzyme and Sanofi North America.
David Liu, M.D., Ph.D. - Chief Medical Officer
Dr. Liu joined Nuvation Bio in 2022 with over 20 years of experience leading the discovery and development of oncology therapies, including NDA submissions for multiple oncology assets in the U.S., Europe, and China. He most recently served as Chief Medical Officer at a biotechnology company in Shanghai, China.
Johanna Sjogren - Chief Commercial Officer
Ms. Sjogren joined Nuvation Bio in 2024, bringing nearly 30 years of experience in developing innovative, high-performing commercial organizations for successful product launches, particularly in oncology. She most recently served as the Senior Vice President of U.S. Sales at Madrigal Pharmaceuticals.
David Hanley, Ph.D. - Chief Technical Operations Officer
Dr. Hanley joined Nuvation Bio in 2021, bringing 20 years of pharmaceutical industry experience in driving strategy for technical operations and chemistry manufacturing and controls (CMC), including virtual networks, for drug development, manufacturing and distribution.
AI Analysis | Feedback
The key risks for Nuvation Bio (NUVB) are primarily associated with the commercialization of its lead product, its financial stability, and the inherent challenges of drug development for its pipeline candidates.
- Commercialization and Market Concentration Risk for IBTROZI: Nuvation Bio has recently transitioned into a commercial-stage biopharmaceutical company with the FDA approval of IBTROZI (taletrectinib) for ROS1-positive non-small cell lung cancer (NSCLC). However, a significant risk lies in the successful commercialization of this single product, as the market for ROS1-positive NSCLC is relatively small and highly competitive. Challenges include the slower-than-expected rollout, capturing sufficient market share against existing and upcoming competitors, and the complexities of establishing effective sales and marketing capabilities, particularly for international markets. The company's near-term financial performance and stock price will be predominantly determined by IBTROZI's success in the marketplace.
- Cash Burn and Path to Profitability: Despite the initial product sales from IBTROZI, Nuvation Bio continues to experience a substantial cash burn due to ongoing research and development (R&D) expenses for its pipeline and costs associated with commercial launch. The company reported significant net losses in recent quarters, highlighting that it remains deeply unprofitable. Its financial health hinges on the successful commercial execution of IBTROZI and the ability to manage its cash reserves until commercial growth can sufficiently offset clinical spending and R&D costs. Failure to achieve profitability in a timely manner could necessitate additional capital.
- Clinical Development and Competition for Pipeline Assets: While IBTROZI has received approval, Nuvation Bio's long-term growth is dependent on the successful development and regulatory approval of its other pipeline candidates, such as NUV-868, NUV-569, NUV-1182, and particularly safusidenib. These programs are subject to the inherent risks of clinical trial setbacks, unfavorable safety profiles, regulatory delays, and the emergence of superior competitive therapies. For example, safusidenib faces concerns regarding long development timelines and the need for clear differentiation in a competitive landscape with other IDH inhibitors for glioma. Delays or failures in these programs could leave the company overly reliant on IBTROZI for an extended period.
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Here are the addressable market sizes for Nuvation Bio's main products and services:
- NUV-422 (CDK2, CDK4, and CDK6 inhibitor): This product targets various cancers, including HR-positive, HER2-negative advanced or metastatic breast cancer. The global market for metastatic HR+/HER2− breast cancer was estimated at approximately USD 9.1 billion in 2022 across the 7MM (United States, EU4, United Kingdom, and Japan). It is projected to reach USD 17.26 billion globally by 2030. The global CDK4/6 inhibitors market is estimated to grow from USD 11.34 billion in 2024 to USD 55.92 billion by 2035. Additionally, the global estrogen receptor-positive breast cancer treatment market size was estimated at USD 19.8 billion in 2023 and is projected to reach USD 33.7 billion by 2030.
- NUV-868 (selective oral small molecule BET inhibitor): This inhibitor targets tumor growth and differentiation, relevant for both hematologic malignancies and solid tumors. The global hematologic malignancies market size reached USD 65.1 billion in 2024 and is expected to reach USD 129.5 billion by 2033. Another estimate for the global hematologic malignancies treatment market is USD 67.32 billion in 2024, growing to USD 139.13 billion by 2034. The global solid tumors market size was valued at USD 362.21 billion in 2024 and is projected to reach USD 1557.42 billion by 2032.
- NUV-569 (differentiated oral small molecule selective inhibitor of the Wee1 kinase for DNA damage repair): This product falls under the broader category of DNA repair drugs. The global DNA repair drugs market was valued at USD 6.8 billion in 2023 and is projected to reach USD 14.5 billion by 2032. Another report estimates this market to be valued at USD 8.05 billion in 2025, reaching USD 19.29 billion by 2032.
- NUV-1182 (adenosine receptor inhibitor): This type of inhibitor is often relevant in the immuno-oncology space. The global Immuno-Oncology (IO) market size was estimated at USD 54.35 billion in 2025 and is projected to reach approximately USD 435.70 billion by 2035. The global immuno-oncology market was also reported to be worth USD 6.53 billion in 2024, with an expectation to reach USD 19.93 billion by 2033.
- Drug-drug conjugate (DDC) platform: This platform focuses on targeting a PARP inhibitor to anti-cancer warheads of existing drugs, as well as addressing ER+ breast and ovarian cancer. The global PARP inhibitor market is estimated to be valued at USD 7.85 billion in 2025 and is expected to reach USD 14.36 billion by 2032. For ER+ breast cancer, the global estrogen receptor-positive breast cancer treatment market size was estimated at USD 19.8 billion in 2023 and is projected to reach USD 33.7 billion by 2030. For ovarian cancer, the global market size was valued at USD 4.11 billion in 2024, with a projection to reach USD 35 billion by 2034. The global ovarian cancer drugs market generated USD 3,611.0 million in 2023 and is expected to reach USD 5,654.6 million by 2030.
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Nuvation Bio (NUVB) is expected to drive future revenue growth over the next 2-3 years through several key initiatives:
* Commercialization and Increased Adoption of IBTROZI (taletrectinib): Nuvation Bio became a commercial-stage company following the FDA approval of IBTROZI in June 2025 for the treatment of adult patients with locally advanced or metastatic ROS1-positive non-small cell lung cancer (NSCLC). This product is now the preferred tyrosine kinase inhibitor (TKI) for patients with advanced ROS1+ NSCLC and has demonstrated rapid adoption, significantly contributing to the company's revenue. The company is actively working to improve first-line adoption, which is expected to lead to longer durations on therapy and further revenue growth.
* Global Expansion of IBTROZI through Partnerships and Clinical Trials: Nuvation Bio has strategic partnerships in place, such as with Eisai Co., Ltd., which grants Eisai development and commercialization rights for taletrectinib in Europe, the Middle East, North Africa, Russia, Turkey, Canada, Australia, New Zealand, and several Asian markets. Additionally, the company is sponsoring global Phase 3 studies like TRUST-IV, evaluating IBTROZI for the adjuvant treatment of resected early-stage ROS1-positive NSCLC in regions including the U.S., Canada, Europe, Japan, and China, which can expand its market reach and generate future sales.
* Advancement and Potential Approval of Safusidenib: Safusidenib, a brain-penetrant IDH1 inhibitor for IDH1-mutant gliomas, is currently in a pivotal Phase 3 study for patients with high-grade and high-risk IDH1-mutant glioma. Successful progression through clinical trials and eventual regulatory approval for safusidenib would unlock a significant new revenue stream, addressing unmet needs in oncology.
* Milestone Payments and Royalties from International Collaborations: The company benefits from milestone payments and royalties derived from its international partnerships for taletrectinib (IBTROZI), particularly in regions like China (Innovent Biologics) and Japan (Nippon Kayaku). These agreements provide upfront payments and ongoing royalties, strengthening Nuvation Bio's financial flexibility and contributing to non-U.S. revenue.
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Share Issuance
- Nuvation Bio completed its merger with Panacea Acquisition Corp. on February 11, 2021, resulting in its Class A common stock trading on the NYSE under the symbol "NUVB".
- In September 2024, stockholders approved the issuance of up to 85,120,200 shares of Class A Common Stock, which were issued and outstanding as of September 30, 2024, following the conversion of Series A Non-Voting Convertible Preferred Stock.
- As part of the acquisition of AnHeart Therapeutics Ltd. on April 9, 2024, Nuvation Bio issued approximately 113 million shares of common stock.
Inbound Investments
- Nuvation Bio had cash, cash equivalents, and marketable securities of $611.2 million as of December 31, 2023, $502.7 million as of December 31, 2024, and $529.2 million as of December 31, 2025.
- Institutional investors held 61.67% of Nuvation Bio's stock as of March 14, 2026.
- Nuvation Bio entered into an exclusive licensing and collaboration agreement with Eisai on January 11, 2026, for taletrectinib in Europe and other territories outside the U.S., China, and Japan, contributing to collaboration revenue.
- Total revenue for 2025 reached $62.9 million, partly due to a $25 million milestone payment from Nippon Kayaku and increased license, service, supply, and royalty revenue.
Outbound Investments
- Nuvation Bio completed the acquisition of AnHeart Therapeutics Ltd. on April 9, 2024.
Capital Expenditures
- Capital expenditures for the last 12 months were approximately -$354,000.
- Research and development expenses were $99.1 million for the full year 2024 and $115.1 million for the full year 2025, demonstrating significant investment in its pipeline.
Peer Outperformance in Biotechnology
NUVB has outperformed 67% of its 363 Biotechnology peers over 5Y. Biotechnology ranks 10th of 10 industries in Health Care by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Biotechnology constituents that NUVB has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
78%
of 455 industry peers · 81.7% return
3Y
90%
of 402 industry peers · 320.9% return
5Y
67%
of 363 industry peers · -38.2% return
null
Median price return by industry across the Health Care sector, ranked by 5Y. Biotechnology is NUVB's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Health Care Distributors | 6 | 16.2% | 43.2% | 90.1% | CAH 392% · MCK 346% · COR 168% |
| Managed Health Care | 8 | 40.4% | -5.3% | 2.3% | OSCR 84% · HQY 56% · ELV 17% |
| Health Care Services | 20 | 21.1% | 37.6% | -0.3% | HIMS 239% · RDNT 173% · DGX 76% |
| Health Care Facilities | 24 | 6.0% | 6.5% | -4.5% | NHC 271% · THC 261% · ENSG 129% |
| Health Care Equipment | 50 | -2.7% | -0.2% | -21.1% | POCI 11050% · UFPT 341% · GKOS 222% |
| Pharmaceuticals | 62 | -10.5% | 14.8% | -38.6% | LQDA 2472% · INDV 1099% · ETON 1051% |
| Health Care Supplies | 12 | 14.1% | -8.9% | -39.7% | LNTH 287% · HAE 54% · MMSI 20% |
| Life Sciences Tools & Services | 109 | 4.3% | -11.3% | -68.4% | SNWV 1757% · MEDP 231% · NTRA 199% |
| Health Care Technology | 21 | -25.8% | -52.6% | -79.2% | SPOK 68% · HSTM 3% · VEEV -13% |
| Biotechnology ← | 364 | 0.6% | -21.7% | -79.4% | CELZ 1280% · DNTH 1221% · ELVN 1069% |
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Nuvation Bio Earnings Notes | 12/28/2026 | |
| With Nuvation Bio Stock Surging, Have You Considered The Downside? | 10/17/2025 | |
| Nuvation Bio (NUVB) Operating Income Comparison | 08/08/2025 | |
| Nuvation Bio (NUVB) Net Income Comparison | 08/08/2025 | |
| Nuvation Bio (NUVB) Operating Cash Flow Comparison | 08/08/2025 | |
| Nuvation Bio (NUVB) Debt Comparison | 08/08/2025 | |
| Nuvation Bio (NUVB) Revenue Comparison | 08/08/2025 | |
| ARTICLES | ||
| Nuvation Bio Stock Surged 160%, Here’s Why | 11/20/2025 | |
| Small Cap Stocks Trading At 52-Week High | 11/20/2025 |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 30.37 |
| Mkt Cap | 65.4 |
| Rev LTM | 15,313 |
| Op Inc LTM | 5,792 |
| FCF LTM | 5,428 |
| FCF 3Y Avg | 4,642 |
| CFO LTM | 6,331 |
| CFO 3Y Avg | 5,086 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 4.3% |
| Rev Chg 3Y Avg | 3.6% |
| Rev Chg Q | 8.0% |
| QoQ Delta Rev Chg LTM | 1.9% |
| Op Inc Chg LTM | 14.0% |
| Op Inc Chg 3Y Avg | -0.8% |
| Op Mgn LTM | -27.1% |
| Op Mgn 3Y Avg | -75.6% |
| QoQ Delta Op Mgn LTM | -0.2% |
| CFO/Rev LTM | -24.9% |
| CFO/Rev 3Y Avg | -90.2% |
| FCF/Rev LTM | -29.3% |
| FCF/Rev 3Y Avg | -93.4% |
FDA Approved Drugs Data
Expand for More| Post-Approval Fwd Returns | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| FDA App # | Brand Name | Generic Name | Dosage Form | FDA Approval | 3M Rtn | 6M Rtn | 1Y Rtn | 2Y Rtn | Total Rtn |
| NDA219713 | IBTROZI | taletrectinib adipate | capsule | 6112025 | 50.9% | 256.4% | 116.4% | 165.9% | 165.9% |
| Post-Approval Fwd Returns | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| FDA App # | Brand Name | Generic Name | Dosage Form | FDA Approval | 3M Rtn | 6M Rtn | 1Y Rtn | 2Y Rtn | Total Rtn |
| NDA219713 | IBTROZI | taletrectinib adipate | capsule | 6112025 | 50.9% | 256.4% | 116.4% | 165.9% | 165.9% |
Clinical Pipeline
| Drug Candidate | Indication | Phase 3 Trials | Est. Primary Completion |
|---|---|---|---|
| Safusidenib | IDH1-mutant glioma | 1 | Dec 2028 |
| Taletrectinib | ROS1-positive non-small cell lung cancer | 2 | Jan 2029 |
Active Phase 3 studies led by the company. Source: ClinicalTrials.gov · Updated 8/28/2026
Price Behavior
Price Behavior
| Market Price | $5.85 | |
| Market Cap ($ Bil) | 2.0 | |
| First Trading Date | 08/21/2020 | |
| Distance from 52W High | -38.7% | |
| 50 Days | 200 Days | |
| DMA Price | $6.42 | $5.89 |
| DMA Trend | up | up |
| Distance from DMA | -8.9% | -0.6% |
| 3M | 1YR | |
| Volatility | 60.7% | 85.9% |
| Downside Capture | 20.90 | 179.04 |
| Upside Capture | 45.56 | 219.67 |
| Correlation (SPY) | 10.0% | 26.2% |
NUVB Betas & Captures as of 8/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.17 | 0.51 | 1.16 | 1.81 | 1.70 | 1.55 |
| Up Beta | -0.08 | 0.18 | 1.11 | 1.70 | 1.81 | 1.25 |
| Down Beta | -2.45 | 1.35 | 2.24 | 1.94 | 1.20 | 1.13 |
| Up Capture | 231% | 120% | 161% | 214% | 378% | 1741% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 10 | 22 | 34 | 64 | 128 | 352 |
| Down Capture | 237% | -58% | -6% | 167% | 129% | 111% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 9 | 17 | 27 | 59 | 117 | 363 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NUVB | |
|---|---|---|---|---|
| NUVB | 79.9% | 85.5% | 1.04 | - |
| Sector ETF (XLV) | 24.4% | 16.1% | 1.16 | 22.6% |
| Equity (SPY) | 16.9% | 12.9% | 0.94 | 26.0% |
| Gold (GLD) | 19.1% | 29.3% | 0.60 | 12.8% |
| Commodities (DBC) | 46.3% | 20.6% | 1.73 | -19.0% |
| Real Estate (VNQ) | 4.9% | 13.6% | 0.10 | 6.7% |
| Bitcoin (BTCUSD) | -30.6% | 44.3% | -0.70 | 8.2% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NUVB | |
|---|---|---|---|---|
| NUVB | -9.2% | 75.3% | 0.18 | - |
| Sector ETF (XLV) | 6.4% | 15.2% | 0.24 | 28.0% |
| Equity (SPY) | 12.9% | 17.2% | 0.57 | 30.9% |
| Gold (GLD) | 19.1% | 18.8% | 0.83 | 6.6% |
| Commodities (DBC) | 11.2% | 19.5% | 0.45 | -2.2% |
| Real Estate (VNQ) | 1.1% | 18.8% | -0.05 | 24.6% |
| Bitcoin (BTCUSD) | 12.5% | 52.5% | 0.42 | 17.3% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NUVB | |
|---|---|---|---|---|
| NUVB | -5.4% | 72.5% | 0.18 | - |
| Sector ETF (XLV) | 10.6% | 16.7% | 0.51 | 25.3% |
| Equity (SPY) | 15.1% | 18.0% | 0.72 | 28.9% |
| Gold (GLD) | 12.1% | 16.4% | 0.61 | 7.5% |
| Commodities (DBC) | 8.3% | 18.1% | 0.37 | 0.1% |
| Real Estate (VNQ) | 4.4% | 20.7% | 0.18 | 22.8% |
| Bitcoin (BTCUSD) | 62.6% | 66.2% | 1.02 | 14.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 9/9/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/6/2026 | -4.1% | 0.8% | 6.3% |
| 5/4/2026 | 9.5% | 7.9% | 7.0% |
| 3/2/2026 | -25.3% | -19.0% | -26.5% |
| 1/12/2026 | -19.7% | -27.2% | -29.0% |
| 11/3/2025 | -6.6% | -10.3% | 60.7% |
| 8/7/2025 | -0.4% | 11.1% | 66.0% |
| 5/7/2025 | 2.9% | 6.4% | 21.6% |
| 3/6/2025 | 6.9% | 16.9% | -12.2% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 15 | 13 | 14 |
| # Negative | 8 | 10 | 9 |
| Median Positive | 4.2% | 11.1% | 8.4% |
| Median Negative | -4.7% | -9.2% | -11.3% |
| Max Positive | 19.3% | 33.2% | 97.3% |
| Max Negative | -25.3% | -27.2% | -29.0% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/6/2026 | -4.1% | 0.8% | 6.3% |
| 5/4/2026 | 9.5% | 7.9% | 7.0% |
| 3/2/2026 | -25.3% | -19.0% | -26.5% |
| 1/12/2026 | -19.7% | -27.2% | -29.0% |
| 11/3/2025 | -6.6% | -10.3% | 60.7% |
| 8/7/2025 | -0.4% | 11.1% | 66.0% |
| 5/7/2025 | 2.9% | 6.4% | 21.6% |
| 3/6/2025 | 6.9% | 16.9% | -12.2% |
| 11/6/2024 | 3.1% | 16.1% | 12.2% |
| 8/5/2024 | -5.4% | -15.8% | -11.3% |
| 5/14/2024 | 0.0% | 3.0% | -9.4% |
| 2/29/2024 | 19.3% | 33.2% | 97.3% |
| 11/2/2023 | 5.5% | -3.1% | 3.1% |
| 8/3/2023 | 4.5% | 11.9% | -6.8% |
| 5/4/2023 | 3.1% | -0.6% | 4.3% |
| 3/15/2023 | 2.4% | 0.6% | 9.8% |
| 11/3/2022 | -2.3% | -7.5% | -9.3% |
| 8/4/2022 | 5.1% | 16.0% | 23.6% |
| 5/9/2022 | 4.7% | -4.3% | -13.0% |
| 2/28/2022 | -3.4% | -8.1% | 4.0% |
| 11/10/2021 | 4.2% | 9.3% | 4.6% |
| 8/12/2021 | 3.0% | -12.2% | 5.3% |
| 5/17/2021 | 0.8% | 20.8% | -7.6% |
| SUMMARY STATS | |||
| # Positive | 15 | 13 | 14 |
| # Negative | 8 | 10 | 9 |
| Median Positive | 4.2% | 11.1% | 8.4% |
| Median Negative | -4.7% | -9.2% | -11.3% |
| Max Positive | 19.3% | 33.2% | 97.3% |
| Max Negative | -25.3% | -27.2% | -29.0% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/06/2026 | 10-Q |
| 03/31/2026 | 05/04/2026 | 10-Q |
| 12/31/2025 | 03/02/2026 | 10-K |
| 09/30/2025 | 11/03/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 03/06/2025 | 10-K |
| 09/30/2024 | 11/06/2024 | 10-Q |
| 06/30/2024 | 08/05/2024 | 10-Q |
| 03/31/2024 | 05/14/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 03/15/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/06/2026 | 10-Q |
| 03/31/2026 | 05/04/2026 | 10-Q |
| 12/31/2025 | 03/02/2026 | 10-K |
| 09/30/2025 | 11/03/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 03/06/2025 | 10-K |
| 09/30/2024 | 11/06/2024 | 10-Q |
| 06/30/2024 | 08/05/2024 | 10-Q |
| 03/31/2024 | 05/14/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 03/15/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
| 03/31/2022 | 05/09/2022 | 10-Q |
| 12/31/2021 | 02/28/2022 | 10-K |
| 09/30/2021 | 11/10/2021 | 10-Q |
| 06/30/2021 | 08/12/2021 | 10-Q |
| 03/31/2021 | 05/17/2021 | 10-Q |
Insider Activity
Updated 8/21/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Hattersley, Gary | CHIEF SCIENTIFIC OFFICER | Direct | Sell | 8212026 | 7.09 | 100,000 | Form | ||
| 2 | Markel, Stacy | CHIEF PEOPLE OFFICER | Direct | Sell | 6242026 | 6.03 | 125,000 | 753,188 | 196,377 | Form |
| 3 | Wentworth, Kerry | CHIEF REGULATORY OFFICER | Direct | Sell | 6242026 | 6.02 | 63,000 | 379,191 | 319,002 | Form |
| 4 | Sauvage, Philippe | Chief Financial Officer | Direct | Sell | 6242026 | 6.01 | 47,668 | 286,370 | 76,134 | Form |
| 5 | Mashal, Robert | Trust | Buy | 6112026 | 4.73 | 25,000 | 118,250 | 1,064,250 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Hattersley, Gary | CHIEF SCIENTIFIC OFFICER | Direct | Sell | 8212026 | 7.09 | 100,000 | Form | ||
| 2 | Markel, Stacy | CHIEF PEOPLE OFFICER | Direct | Sell | 6242026 | 6.03 | 125,000 | 753,188 | 196,377 | Form |
| 3 | Wentworth, Kerry | CHIEF REGULATORY OFFICER | Direct | Sell | 6242026 | 6.02 | 63,000 | 379,191 | 319,002 | Form |
| 4 | Sauvage, Philippe | Chief Financial Officer | Direct | Sell | 6242026 | 6.01 | 47,668 | 286,370 | 76,134 | Form |
| 5 | Mashal, Robert | Trust | Buy | 6112026 | 4.73 | 25,000 | 118,250 | 1,064,250 | Form | |
| 6 | Liu, Dongfang | CHIEF MEDICAL OFFICER | Direct | Sell | 4212026 | 5.02 | 50,000 | 251,000 | 90,360 | Form |
| 7 | Wentworth, Kerry | CHIEF REGULATORY OFFICER | Direct | Sell | 4212026 | 5.01 | 36,750 | 184,279 | 265,763 | Form |
| 8 | Wentworth, Kerry | CHIEF REGULATORY OFFICER | Direct | Sell | 4082026 | 4.52 | 200,000 | 903,560 | 239,443 | Form |
| 9 | Liu, Dongfang | CHIEF MEDICAL OFFICER | Direct | Sell | 12032025 | 7.82 | 150,000 | 1,173,255 | 140,791 | Form |
| 10 | Liu, Dongfang | CHIEF MEDICAL OFFICER | Direct | Sell | 11262025 | 8.00 | 10,000 | 80,000 | 144,000 | Form |
| 11 | Liu, Dongfang | CHIEF MEDICAL OFFICER | Direct | Sell | 11262025 | 7.50 | 10,000 | 75,000 | 135,000 | Form |
| 12 | Hattersley, Gary | CHIEF SCIENTIFIC OFFICER | Direct | Sell | 11242025 | 7.23 | 369,051 | Form | ||
| 13 | Liu, Dongfang | CHIEF MEDICAL OFFICER | Direct | Sell | 11242025 | 7.00 | 20,000 | 140,074 | 126,067 | Form |
| 14 | Hanley, David C | CHIEF TECHNICAL OPERATIONS | Direct | Sell | 11212025 | 7.14 | 200,000 | 1,427,680 | 171,322 | Form |
| 15 | Liu, Dongfang | CHIEF MEDICAL OFFICER | Direct | Sell | 11192025 | 5.10 | 15,000 | 76,552 | 91,863 | Form |
| 16 | Liu, Dongfang | CHIEF MEDICAL OFFICER | Direct | Sell | 11192025 | 4.76 | 15,000 | 71,475 | 71,475 | Form |
| 17 | Hattersley, Gary | CHIEF SCIENTIFIC OFFICER | Direct | Sell | 10292025 | 5.02 | 100,000 | Form |
Investor Activity (13F)
Updated Sep 21, 202613F holdings as of Mar 31, 2026 (Q1 2026)
Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
Industry Resources
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