Nuvation Bio Q3 revenue up on IBTROZI sales
Overview
Oncology drugmaker's Q3 revenue rose to $45 mln, up from a year earlier
Net loss for Q3 narrowed to $41.9 mln from $55.8 mln last year
FDA granted Fast Track Designation to safusidenib for IDH1-mutant glioma
Outlook
Company plans further updates on drug-drug conjugate platform by year-end 2026
Nuvation Bio advancing Phase 2 and pivotal Phase 3 studies for safusidenib in IDH1-mutant glioma
Company expanding SIGMA Phase 3 study for safusidenib to additional European countries
Result Drivers
IBTROZI GROWTH - Net product revenue for IBTROZI rose 18% quarter-over-quarter, driven by continued adoption and treatment durability
MARKET LEADERSHIP - IBTROZI maintained its position as the most prescribed ROS1 TKI, with new patient starts steady despite a 15% decline in the overall market
COLLABORATION REVENUE - Higher collaboration and license revenue was driven by increased product supply revenue, a sales milestone, and greater royalty income
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Loss Per Share | $0.12 | ||
Q3 Net Loss | $41.90 mln | ||
Q3 Income from Pperations | -$42.21 mln | ||
Q3 Pretax Loss | $41.90 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for Nuvation Bio Inc. is $12.00, about 155.9% above its November 3 closing price of $4.69
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)