Nuvation Bio (NYSE:NUVB) reported preliminary 2025 revenue that beat internal projections, driven by the rapid adoption of its flagship lung cancer treatment, IBTROZI®.
The oncology firm, which transitioned to a commercial-stage company last June, saw its treatment starts outpace recent rival launches by sixfold, according to data released Monday.
The New York-based biotech reported fourth-quarter net product revenue of $15.7 million, bringing its total for the half-year since launch to $24.7 million.
Despite the typical year-end slowdown during the holidays, 216 new patients started on IBTROZI in the final three months of 2025 for the treatment of advanced ROS1-positive non-small cell lung cancer (NSCLC).
To fuel its global ambitions, Nuvation also announced a major licensing deal with Japanese pharma giant Eisai Co. on January 11.
The agreement grants Eisai exclusive rights to commercialize taletrectinib across Europe, Canada, and several other international territories.
In exchange, Nuvation receives an upfront payment of €50 million (approximately $55 million) and is eligible for up to €145 million in additional milestones, plus tiered royalties.
Financially, the company enters 2026 with a formidable war chest.
Including a recent $25 million milestone payment from Nippon Kayaku following a price reimbursement victory in Japan, Nuvation expects to end the year with approximately $529.2 million in cash and marketable securities.