Nuvation Bio Q2 net loss narrows to $20.6M; cash $630.9M; NUV-868 studies enrolling

Nuvation Bio Inc.

2023-Q2 EPS reported -$0.19

Net loss of $20.6M ($0.09/share) vs $34.9M ($0.16/share) in Q2 2022.
Cash, cash equivalents and marketable securities of $630.9M as of June 30, 2023.
R&D expenses decreased to $18.6M from $28.9M, partly due to NUV-422 program termination.
Phase 1b combo study of NUV-868 with olaparib/enzalutamide and Phase 1 monotherapy enrolling.
Expects to submit IND for first DDC candidate by year end 2023; formed Scientific Advisory Board.

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