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Sep 30, 2022
Nuvation Bio Q3 2022 Earnings Report
Nuvation Bio reported financial results for the third quarter ended September 30, 2022, and provided a business update.
Key Takeaways
Nuvation Bio reported a net loss of $27.2 million, or $(0.12) per share, and had cash, cash equivalents and marketable securities of $673.9 million as of September 30, 2022.
Dosing is underway for Phase 1 monotherapy study of NUV-868 in advanced solid tumors.
Expect to initiate Phase 1b combination study of NUV-868 by the end of 2022.
The company is on track to nominate first clinical candidate from Drug-Drug Conjugate (DDC) platform by the end of 2022.
The company's strong financial position provides cash runway through 2028.
Nuvation Bio
Nuvation Bio
Forward Guidance
The company provided forward-looking statements regarding the expected timing of clinical trial initiation, the expected timing of clinical candidate nomination from the DDC platform, Nuvation Bio’s cash runway and the potential therapeutic benefit of its product candidates.
Positive Outlook
- Statements regarding the expected timing of clinical trial initiation
- Statements regarding the expected timing of clinical candidate nomination from the DDC platform
- Statements regarding Nuvation Bio’s cash runway
- Statements regarding the potential therapeutic benefit of its product candidates
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, 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
- Risks related to cost reduction efforts
- Competitive developments