Nuvation Bio Inc.
For the period ended Sep 30, 2026. Filed Nov 4, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 4, 2026
NUVB$4.20-3.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
(Unaudited, in thousands)
| For the Nine Months Ended September 30, | 2026 | 2025 |
|---|---|---|
| Cash flows from operating activities: | ||
| Net loss | $(99,342) | $(168,035) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Stock-based compensation | 29,563 | 27,906 |
| Depreciation and amortization | 1,650 | 1,200 |
| Non-cash lease expense | (29) | 281 |
| Non-cash interest on revenue interest financing agreement | 15,168 | 5,121 |
| Amortization of debt issuance costs | 1,207 | 335 |
| Change in fair value of warrant liability | (2,865) | (315) |
| Amortization of premium and discounts on marketable securities | (2,712) | (4,096) |
| Realized loss (gain) on marketable securities | (4) | (2) |
| Net loss on disposal of fixed assets | (1) | 30 |
| Loss on debt extinguishment | 9,472 | — |
| Unrealized foreign currency transaction (loss) gain | (484) | (415) |
| Change in operating assets and liabilities: | ||
| Accounts receivable | (20,470) | 4,399 |
| Prepaid expenses and other current assets | (4,197) | (1,655) |
| Inventory | (3,926) | (5,710) |
| Interest receivable on marketable securities | (390) | (1,957) |
| Other non-current assets | 83 | (701) |
| Accounts payable | 467 | 9,012 |
| Contract liabilities | (3,110) | (8,838) |
| Accrued expenses | 3,459 | (254) |
| Net cash used in operating activities | (76,461) | (143,694) |
| Cash flow from investing activities: | ||
| Purchases of marketable securities | (375,725) | (309,515) |
| Proceeds from sale of marketable securities | 230,626 | 330,217 |
| Cash paid for capitalized market approval intangibles | — | (8,000) |
| Purchases of property and equipment | (1,890) | (265) |
| Net cash (used in) provided by investing activities | (146,989) | 12,437 |
| Cash flow from financing activities: | ||
| Proceeds from borrowings, net of debt issuance costs and debt discounts | — | 48,901 |
| Proceeds from revenue interest financing agreement | — | 150,000 |
| Proceeds from convertible debt, net of issuance costs | 280,317 | — |
| Payments on capped call transactions | (17,135) | — |
| Payments on borrowings and amendment fee under Financing Agreement | (58,687) | (700) |
| Payments on debt issuance costs | (1,202) | (6,596) |
| Payments on revenue interest financing agreement | (3,157) | (68) |
| Proceeds from issuance of Common Stock under ESPP | 1,247 | 533 |
| Proceeds from exercises of options | 12,355 | 2,402 |
| Net cash provided by financing activities | 213,738 | 194,472 |
| Effect of foreign exchange rate changes on cash and cash equivalents | (608) | (41) |
| Net (decrease) increase in cash and cash equivalents | (10,320) | 63,174 |
| Cash and cash equivalents, beginning of the period | 164,086 | 35,723 |
| Cash and cash equivalents, end of the period | $153,766 | $98,897 |
| Non-cash operating activities | ||
| Right-of-use asset recognized | $11,649 | $3,871 |
| Non-cash investing activities | ||
| Capitalized market approval intangibles | $10,000 | $— |
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