This morning Nuvation Bio gave investors a nice update of 3rd quarter financial results. In just their first quarter of commercialization with the FDA approved drug Obtrozi (taletrectinib) for ROS1 NSCLC, the company achieved 7.7 million in total revenue. The company also guided on their pipeline which includes oral drug Safusidenib for IDH1 high-grade gliomas. Key points of progress in the 3rd quarter report and conference call.
Obtrozi (taletrectinib)
- Obtrozi 3rd quarter sales of $7.7 million
- Obtrozi DOR (duration of response) has reached 50 months
Safusidenib
- Begin Phase 3 Safusidenib maintenance treatment high-grade 3 or 4 gliomas
- No other market entrants have been approved for high-grade gliomas
- Global phase 3 safusidenib trial has registrational potential
NUV-1511
- Clinical trial update 4th quarter
Financial
- $549 million cash on hand, end of 3rd quarter
- $25 million milestone payment fourth quarter
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