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Mar 31, 2021
Nuvation Bio Q1 2021 Earnings Report
Nuvation Bio reported financial results for the first quarter ended March 31, 2021, and provided a business update.
Key Takeaways
Nuvation Bio reported a net loss of $20.4 million, or $(0.12) per share, and had cash, cash equivalents, and marketable securities of $824.7 million as of March 31, 2021.
Ongoing enrollment in Phase 1/2 study of NUV-422 in high-grade gliomas.
Strong balance sheet with cash, cash equivalents and marketable securities of $824.7 million as of March 31, 2021.
Company remains on track to submit five additional Investigational New Drug (IND) applications by 2026.
Expect top-line data from the Phase 1 portion of NUV-422 study in 2022.
Forward Guidance
The company anticipates therapeutic benefits from its product candidates, expects future IND filings, and looks forward to clinical trial data, while acknowledging the impact of the restatement of Panacea's 2020 financial statements.
Positive Outlook
- Potential therapeutic benefit of Nuvation Bio’s product candidates.
- Expected future IND filings.
- Expected timing of clinical trial data.
- Advancing pipeline of therapies for difficult-to-treat cancers.
- Sufficient resources to execute on clinical development plan.
Challenges Ahead
- Restatement of Panacea’s 2020 financial statements.
- Risks and uncertainties discussed in the Quarterly Report on Form 10-Q.
- Potential for actual results to differ materially from forward-looking statements.
- Unforeseen risks that could cause actual results to differ.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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