NUVB reports $31.7 million in Q2 revenue, driven by a 25% sequential increase in U.S. product sales for its lung cancer therapy.
Nuvation Bio posted second-quarter total revenue of $31.7 million, including $23.2 million from U.S. sales of its ROS1-targeted lung cancer drug IBTROZI. The 25% sequential increase was fueled by a shift toward first-line treatment, with 85% of new patient starts in that setting, up from 30% at launch less than a year ago.
The company said first-line starts rose about 30% sequentially, while 160 patients began treatment during the quarter. IBTROZI’s momentum reflects longer treatment durations and potential future growth, according to management.
Nuvation also reported $661 million in cash and marketable securities as of June 30, bolstered by $279.1 million in net proceeds from convertible notes. The capital is expected to support operations through profitability and the anticipated launch of safusidenib.