By Elias Schisgall
Nuvation Bio shares dipped after the oncology company issued preliminary sales numbers for Ibtrozi behind Wall Street's expectations.
Shares fell 16% to $6.77 late Monday morning. The stock has more than doubled in value in the past year.
The company said Monday that it expects to report net revenue from Ibtrozi, a treatment for non-small cell lung cancer, of $15.7 million in the fourth quarter and $24.7 million since the drug's commercial launch in the second quarter.
Analysts surveyed by FactSet were anticipating $17.1 million in sales for the quarter and $26.1 million since the product launch.
Nuvation said 216 patients had begun Ibtrozi treatment during the fourth quarter, exceeding the company's internal projections. It said that since Ibtrozi's launch, 432 patients have begun taking the treatment, representing a treatment adoption rate about six times greater than that of other similar drug launches, citing data from Iqvia.
The company also said it received a $25 million milestone payment from Nippon Kayaku during the fourth quarter.
Write to Elias Schisgall at elias.schisgall@wsj.com
(END) Dow Jones Newswires
January 12, 2026 11:26 ET (16:26 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
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