Nuvation Bio (NUVB) financial statements
Nuvation Bio reported revenue of $63M in fiscal 2025, up 699.0% a year over 1 years.
Net income was -$205M.
Free cash flow was -$181M.
The diluted share count rose 250% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Nuvation Bio's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | — | — | — | $0 | $8M | $63M |
| Cost of revenue | — | — | — | $0 | $7M | — |
| Gross profit | — | — | — | $0 | $795,000 | — |
| Research and development | $33M | $69M | $88M | $71M | $99M | $115M |
| Selling, general and admin | $11M | $24M | $32M | $29M | $69M | $152M |
| Operating income | -$44M | -$93M | -$120M | -$100M | -$593M | -$213M |
| Interest expense | — | — | — | $0 | $341,000 | $14M |
| Pre-tax income | -$42M | -$87M | -$104M | -$76M | -$568M | -$205M |
| Income tax | $0 | $0 | $0 | $0 | $0 | $0 |
| Net income | -$42M | -$87M | -$104M | -$76M | -$568M | -$205M |
| EPS (diluted) | -$0.43 | -$0.44 | -$0.48 | -$0.35 | -$2.11 | -$0.60 |
| Diluted shares | 98M | 198M | 217M | 219M | 269M | 342M |
| Gross margin | — | — | — | — | 10.1% | — |
| Operating margin | — | — | — | — | -7527.3% | -338.7% |
| Net margin | — | — | — | — | -7213.8% | -325.3% |
Balance sheet
Fiscal years, from Nuvation Bio's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Cash and short-term investments | $216M | $765M | $661M | $611M | $503M | $529M |
| Inventory | — | — | — | — | $0 | $11M |
| Total current assets | $221M | $772M | $667M | $616M | $526M | $572M |
| Property, plant and equipment | $688,000 | $786,000 | $894,000 | $717,000 | $586,000 | $564,000 |
| Total assets | $222M | $776M | $672M | $621M | $541M | $595M |
| Total current liabilities | $7M | $17M | $13M | $14M | $58M | $82M |
| Total liabilities | $7M | $30M | $17M | $16M | $77M | $289M |
| Shareholders' equity | $215M | $746M | $655M | $605M | $464M | $306M |
| Net debt | -$30M | -$132M | -$101M | -$43M | -$36M | -$164M |
Cash flow
Fiscal years, from Nuvation Bio's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$37M | -$68M | -$96M | -$68M | -$130M | -$173M |
| Capital spending | — | — | — | — | $0 | $8M |
| Free cash flow | — | — | — | — | -$130M | -$181M |
| Stock-based compensation | $2M | $9M | $16M | $20M | $32M | $36M |
| Free cash flow margin | — | — | — | — | -1656.5% | -288.4% |
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Open NUVB in InvestinglyQuestions
What was Nuvation Bio's revenue in 2025?
$63M in fiscal 2025, from its 10-K filing.
How much free cash flow does Nuvation Bio generate?
-$181M in fiscal 2025 (operating cash flow minus capital spending).
From Nuvation Bio's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.