Nuvation Bio is expected to be a multi-year holding as they have one commercial asset Ibtrozi for ROS1 NSCLC. Their second asset Safusidenib for high-grade glioma, is in clinical trials which can be found here Clinical Trials. The latest positive news from Nuvation comes as they have received net proceeds of $277.6 million, from an oversubscribed convertible notes offering due 2032. Positives from the just completed notes offering below.
- Retired older, high interest debt of $55.8 million
- $17.1 million used for capped call options, hedge to $10.458
- At present, is non-diluting to shareholders
- Added new cash of around $205 million after all deductions
- Multi-year cash runway now available
The new cash infusion will be used to fund clinical development, and general corporate purposes. Weekly chart of Nuvation below, thank you for reading.
