<span item_type="fundamental" item_id="3f5ab5d57152320e06e4bd0d8e1b61a5" counter_id="ST/US/NUVB" env="prod"></span><span item_type="announcement" item_id="644754003871927553" env="prod"></span><p>Revenue: As of FY2026 Q1, the actual value is USD 83.23 M, beating the estimate of USD 62.34 M.</p><p>EPS: As of FY2026 Q1, the actual value is USD 0.01, beating the estimate of USD -0.0004.</p><p>EBIT: As of FY2026 Q1, the actual value is USD 5.481 M.</p><p></p><h4>Net Product Revenue</h4><p>Nuvation Bio Inc. reported net product revenue of $18.5 million for the first quarter of 2026, primarily from U.S. sales of IBTROZI, compared to $0 for the three months ended March 31, 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1811063/000119312526204056/d132166dex991.htm"></span></p><h4>Collaboration and License Agreements Revenue</h4><p>Collaboration and license agreements revenue for the first quarter of 2026 was $64.7 million, a significant increase from $3.1 million for the same period in 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1811063/000119312526204056/d132166dex991.htm"></span> This increase was mainly driven by a $58.7 million increase in license revenue due to an upfront payment from the Eisai agreement, a $2.4 million increase in product supply, and a $1.5 million increase in royalty revenue, partially offset by a $1.0 million decrease in research and development service revenue.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1811063/000119312526204056/d132166dex991.htm"></span> Royalty revenue from collaboration agreements for China and Japan amounted to $1.7 million for the quarter.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1811063/000119312526204056/d132166dex991.htm"></span></p><h4>Total Revenues</h4><p>Total revenues for the first quarter of 2026 were $83.2 million, up from $3.1 million in the first quarter of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1811063/000119312526204056/d132166dex991.htm"></span></p><h4>Research and Development Expenses</h4><p>Research and development expenses increased to $35.0 million for the first quarter of 2026, compared to $24.6 million for the first quarter of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1811063/000119312526204056/d132166dex991.htm"></span> This rise was primarily due to a $1.5 million increase in salaries and other benefits and an $8.9 million increase in third-party costs related to clinical trials.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1811063/000119312526204056/d132166dex991.htm"></span></p><h4>Selling, General and Administrative Expenses</h4><p>Selling, general, and administrative expenses were $38.3 million for the first quarter of 2026, an increase from $35.4 million for the first quarter of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1811063/000119312526204056/d132166dex991.htm"></span> This increase was attributed to a $5.7 million rise in salaries and other benefits and a $0.1 million increase in taxes, partially offset by a $1.7 million decrease in sales and marketing expenses and a $1.2 million decrease in professional fees.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1811063/000119312526204056/d132166dex991.htm"></span></p><h4>Total Costs and Expenses</h4><p>Total costs and expenses for the first quarter of 2026 were $79.3 million, compared to $62.1 million for the first quarter of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1811063/000119312526204056/d132166dex991.htm"></span></p><h4>Income (Loss) from Operations</h4><p>Nuvation Bio Inc. reported an income from operations of $3.9 million for the first quarter of 2026, a notable improvement from an operating loss of - $59.0 million in the first quarter of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1811063/000119312526204056/d132166dex991.htm"></span></p><h4>Net Income (Loss)</h4><p>Nuvation Bio Inc. achieved a net income of $5.4 million for the first quarter of 2026, compared to a net loss of - $53.2 million in the comparable period of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1811063/000119312526204056/d132166dex991.htm"></span></p><h4>Cash, Cash Equivalents, and Marketable Securities</h4><p>As of March 31, 2026, Nuvation Bio Inc. had cash, cash equivalents, and marketable securities totaling $533.7 million.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1811063/000119312526204056/d132166dex991.htm"></span></p><h4>Operational Highlights and Unique Metrics</h4><p>In the first quarter of 2026, Nuvation Bio Inc. generated $18.5 million in net product revenues for IBTROZI.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1811063/000119312526204056/d132166dex991.htm"></span> Over 600 patients have started IBTROZI treatment since its launch in late June 2025, with more than half of the approximately 200 new patients initiating IBTROZI in the first quarter of 2026 being TKI-naïve.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1811063/000119312526204056/d132166dex991.htm"></span> The company also acquired global development and commercialization rights for safusidenib from Daiichi Sankyo, including the transfer of its global clinical development program.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1811063/000119312526204056/d132166dex991.htm"></span></p><h4>Outlook / Guidance</h4><p>Nuvation Bio Inc. plans to advance the pivotal Phase 3 SIGMA study for safusidenib and provide updates on its drug-drug conjugate platform later this year.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1811063/000119312526204056/d132166dex991.htm"></span> The company anticipates the European Medicines Agency (EMA) Marketing Authorisation Application for taletrectinib to follow a standard review timeline and be considered for full approval.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1811063/000119312526204056/d132166dex991.htm"></span></p>

Nuvation Bio | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 83.23 M