Nuvation Bio Inc. income statement

In fiscal 2025, Nuvation Bio Inc. reported revenue of $62.9m, up 699.0% on the year before, operating income of −$213m (a -338.7% margin) and net income of −$205m, or −$0.60 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Nuvation Bio Inc.: income statement, annual
Fiscal year	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Revenue	0	8	63	170
Cost of revenue	0	7	—	—
Gross profit	0	1	—	—
Research and development	71	99	115	129
Selling, general and administrative	29	69	152	159
Operating income	−100	−593	−213	−138
Interest expense	0	0	14	27
Income before tax	−76	−568	−205	−150
Income tax	0	0	0	0
Net income	−76	−568	−205	−150
Diluted EPS	−$0.35	−$2.11	−$0.60	−$0.42
Diluted shares (average)	219m	269m	342m	353m
EBITDA	−100	−592	−211	−135

US$ millions unless shown otherwise. Fiscal quarters.

Nuvation Bio Inc.: income statement, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Revenue	1	6	3	5	13	42	83	32
Cost of revenue	2	4	2	3	3	—	—	—
Gross profit	−1	1	1	2	10	—	—	—
Research and development	28	29	25	27	29	34	35	31
Selling, general and administrative	20	26	35	38	37	40	38	43
Operating income	−48	−54	−59	−64	−56	−34	4	−51
Interest expense	0	0	0	0	7	7	7	7
Income before tax	−41	−49	−53	−59	−56	−37	5	−63
Income tax	0	0	0	0	0	0	0	0
Net income	−41	−49	−53	−59	−56	−37	5	−63
Diluted EPS	−$0.15	$0.00	−$0.16	−$0.17	−$0.16	−$0.11	$0.01	−$0.18
EBITDA	−48	−54	−59	−63	−56	−33	4	−51

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

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Figures from Nuvation Bio Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Nuvation Bio Inc.