Nuvation Bio Q2 revenue beats estimates on IBTROZI growth
NUVB•Outlook
- Company did not provide specific financial guidance for the current or future periods
Overview
- U.S. oncology drug developer's Q2 revenue rose and beat analyst expectations
- Company posted Q2 net loss of $62.8 mln, or $0.18 per share
- Q2 revenue growth driven by increased IBTROZI adoption in ROS1+ NSCLC
Result drivers
- IBTROZI adoption - Q2 net product revenue rose 25% QoQ, driven by increased IBTROZI use in ROS1+ NSCLC, especially among TKI-naïve patients
- Collaboration and license revenue - Higher collaboration and license agreement revenue, mainly from increased product supply and royalties
- Operating expenses - Higher research, development, and administrative costs due to increased clinical trial activity, headcount, and professional fees
Key details and analyst coverage
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Beat | $31.69 mln | $27.51 mln (9 Analysts) |
| Q2 Loss Per Share |
