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Mar 31, 2022
Nuvation Bio Q1 2022 Earnings Report
Reported financial results for the first quarter ended March 31, 2022, and provided a business update.
Key Takeaways
Nuvation Bio reported a net loss of $21.3 million, or $(0.10) per share for the first quarter ended March 31, 2022. The company had cash, cash equivalents and marketable securities of $737.7 million as of March 31, 2022. The company is focusing on the development of NUV-422, NUV-868, and DDC programs, and has deprioritized NUV-569 and A2A programs.
NUV-422 on track for initiation of multiple Phase 1b combination and Phase 2 monotherapy cohorts by the end of 2022
First patient dosed in Phase 1 study of NUV-868 for the treatment of solid tumors
On track to select first clinical candidate from Drug-Drug Conjugate (DDC) Program by the end of 2022
NUV-569 and A2A programs deprioritized to focus on development of NUV-422, NUV-868, and DDC programs
Nuvation Bio
Nuvation Bio
Forward Guidance
The company expects to share data from the Phase 1 dose escalation study of NUV-422 later this year and plans to initiate Phase 2 monotherapy and Phase 1b combination studies before the end of the year and is on track to select its first clinical candidate for the DDC program by the end of 2022.
Positive Outlook
- NUV-422 on track for initiation of multiple Phase 1b combination and Phase 2 monotherapy cohorts by the end of 2022
- First patient dosed in Phase 1 study of NUV-868 for the treatment of solid tumors
- On track to select first clinical candidate from Drug-Drug Conjugate (DDC) Program by the end of 2022
- Nuvation Bio expects to share data from the Phase 1 dose escalation study of NUV-422 later this year.
- The Company plans to initiate the Phase 2 monotherapy and Phase 1b combination studies before the end of the year.
Challenges Ahead
- Challenges associated with conducting drug discovery and initiating or conducting clinical trials due to, among other things, difficulties or delays in the regulatory process
- Difficulties or delays in enrolling subjects or manufacturing or acquiring necessary products
- The emergence or worsening of adverse events or other undesirable side effects
- Risks associated with preliminary and interim data, which may not be representative of more mature data
- Competitive developments