The EPS miss of -91.7% vs consensus will likely pressure the stock short-term, but the strong product revenue growth and profitability inflection should provide a floor. Monitor for sustainability of IBTROZI prescription trends and any updates on the EMA review which could be a catalyst in the coming months.
Price Chart
Executive Summary
Nuvation Bio reported Q1 2026 total revenue of $83.2M (up from $3.1M YoY) and net income of $5.4M ($0.01 diluted EPS) vs a consensus estimate of $0.12, a significant miss. Product revenue from IBTROZI grew to $18.5M, but the headline EPS miss and reliance on a one-time $58.7M collaboration upfront payment from Eisai temper the positive revenue trajectory.
Key Financial Metrics
Key Facts
- Q1 2026 net product revenue of $18.5M from IBTROZI, up from $15.7M in Q4 2025
- Collaboration & license revenue of $64.7M, largely driven by $58.7M upfront from Eisai deal
- Total revenue $83.2M vs $3.1M in Q1 2025
- Net income of $5.4M ($0.01 diluted EPS) vs net loss of $53.2M ($0.16 loss) in Q1 2025
- Diluted EPS of $0.01 missed consensus of $0.12 by -91.7%
- Cash & securities of $533.7M as of March 31, 2026
- Over 600 patients started on IBTROZI since launch in June 2025
- Acquired Japan rights to safusidenib from Daiichi Sankyo, securing global development rights
Financial Impact
EPS miss of $0.11 vs consensus $0.12, revenue beat not quantified due to lack of consensus; one-time upfront of $58.7M distorts revenue comparison
Risk Factors
- Dependence on single product IBTROZI for product revenue
- One-time collaboration revenue not recurring; future quarters may show lower total revenue
- Competition from other ROS1 inhibitors (entrectinib, crizotinib) and potential new entrants
- Clinical trial risks for safusidenib and pipeline candidates
- Execution risk in expanding ex-U.S. commercialization via Eisai
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-204056 |
| Document: d132166d8k.htm | 0001193125-26-204056 |
| Document: 0001193125-26-204056-index-headers.html | 0001193125-26-204056 |
| Document: 0001193125-26-204056-index.html | 0001193125-26-204056 |
| Document: 0001193125-26-204056.txt | 0001193125-26-204056 |
| 8-K Data (Synthetic) | 0001193125-26-204056 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 4d ago | Press Release | $4.70 | awaiting T+60 | — | $4.57 (−2.87%) |
Aug 6, 2026 11w ago | 8-K | $6.11 | awaiting T+60 | — | $4.57 (−25.29%) |
Jun 26, 2026 17w ago | 424B5 | $5.61 $6.10 | ▼ −8.73% | ▼ −4.35% | $4.57 (+18.63%) |
Jun 23, 2026 17w ago | 144 | $6.46 $6.07 | ▲ +6.04% | ▲ +8.88% | $4.57 (+29.33%) |
Jun 23, 2026 17w ago | 144 | $6.46 $6.07 | ▼ −6.04% | ▼ −8.88% | $4.57 (−29.33%) |
May 4, 2026 24w ago | 8-K | $4.83 $6.70 | ▲ +38.72% | ▲ +35.98% | $4.57 (−5.49%) |
Apr 21, 2026 26w ago | DEFA14A | $5.11 $5.64 | ▲ +10.37% | ▲ +3.47% | $4.57 (−10.67%) |
Apr 17, 2026 27w ago | 144 | $5.12 $5.90 | ▲ +15.23% | ▲ +8.46% | $4.57 (−10.84%) |
US Market Status
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