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Mar 31, 2023
Nuvation Bio Q1 2023 Earnings Report
Nuvation Bio reported financial results for the first quarter ended March 31, 2023 and provided a business update.
Key Takeaways
Nuvation Bio reported a net loss of $21.7 million, or $(0.10) per share, for the first quarter ended March 31, 2023. The company's cash, cash equivalents and marketable securities totaled $646.6 million as of March 31, 2023.
Enrollment is ongoing in the Phase 1b study of NUV-868 in combination with olaparib or enzalutamide.
Enrollment is ongoing in the Phase 1 monotherapy study of NUV-868.
The company expects to submit an IND for first Drug-Drug Conjugate (DDC) clinical candidate by year end 2023.
The company had cash, cash equivalents and marketable securities of $646.6 million as of March 31, 2023.
Nuvation Bio
Nuvation Bio
Forward Guidance
Nuvation Bio anticipates continued momentum in its clinical trials and expects to submit an IND filing for its first DDC clinical candidate by the end of the year.
Positive Outlook
- Potential therapeutic benefit of Nuvation Bio’s product candidates
- Expected continued momentum of Nuvation Bio’s clinical trials
- Expected timing of an IND filing for Nuvation Bio’s first DDC clinical candidate
Challenges Ahead
- Challenges associated with conducting drug discovery
- Difficulties or delays in the regulatory process
- Difficulties or delays in enrolling subjects
- Difficulties or delays in manufacturing or acquiring necessary products
- Emergence or worsening of adverse events or other undesirable side effects