Overview

• U.S. oncology firm's Q1 net product revenue reached $18.5 mln on IBTROZI launch momentum

• Company posted net income of $5.4 mln, reversing a loss from prior-year quarter

• Nuvation Bio acquired Japan rights to safusidenib, expanding global development pipeline

Outlook

• Company aims to provide updates on drug-drug conjugate platform by year-end 2026

• Nuvation Bio plans to present longer-term safusidenib Phase 2 data at a future medical meeting

• Company expects SIGMA Phase 3 study data for safusidenib in 2029

Result Drivers

• IBTROZI LAUNCH MOMENTUM - Q1 net product revenue of $18.5 mln driven by ongoing IBTROZI adoption, especially among TKI-naïve advanced ROS1+ NSCLC patients

• LICENSE REVENUE INCREASE - Collaboration and license agreements revenue rose $58.7 mln, mainly due to upfront payment from Eisai agreement

• CLINICAL DATA SUPPORT - Updated long-term follow-up data for IBTROZI showed robust efficacy and durability, supporting adoption among healthcare providers

Company press release: ID:nPn4fmy5Qa

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 EPS		$0.01
Q1 Net Income		$5.4 mln
Q1 Income from Pperations		$3.88 mln

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "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 167.3% above its May 1 closing price of $4.49

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