Nuvalent, Inc.

Listed Company

NUVLCIK 0001861560NasdaqLarge AcceleratedPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-425.40M

Total Assets

$1.41B

Equity

$1.25B

Shares Out

3.13M

Op. Cash Flow

$-275.21M

Business

Nuvalent, Inc. is a clinical-stage biopharmaceutical company that discovers and develops precisely targeted small-molecule kinase inhibitors for patients with cancer. Its main products in development include zidesamtinib (ROS1-selective), neladalkib (ALK-selective), and NVL-330 (HER2-selective), alongside multiple early-stage discovery programs. The company’s operations include discovery, preclinical work, and multicenter Phase 1/2 and planned Phase 3 clinical development programs, and it leverages collaborations with physician-scientists, CROs and CMOs. Nuvalent holds worldwide development and commercialization rights and plans to commercialize products in the U.S. and other regions.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Research and development	307	218	113	64	36
General and administrative	107	63	36	22	10
Total operating expenses	414	280	149	86	46
Loss from operations	−414	−280	−149	−86	−46
Change in fair value of related party revenue share liability	−55	−18	0	0	—
Interest income and other income (expense), net	45	38	23	4	—
Total other income (expense), net	−10	20	23	4	−521,000
Loss before income taxes	−425	−260	−126	−82	—
Income tax provision	600,000	800,000	0	0	—
Net loss	−425	−261	−126	−82	−46
Net loss per share attributable to Class A and Class B common stockholders, basic	−5.85	−3.93	−2.17	−1.65	−2.13
Net loss per share attributable to Class A and Class B common stockholders, diluted	−5.85	−3.93	−2.17	−1.65	−2.13
Weighted average shares of Class A and Class B common stock outstanding, basic	73	66	58	50	22
Weighted average shares of Class A and Class B common stock outstanding, diluted	73	66	58	50	22
Unrealized gains (losses) on marketable securities	2	−90,000	525,000	−266,000	−228,000
Comprehensive loss	−423	−261	−126	−82	−47

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	262	146	335	242	69
Marketable securities	1,110	973	385	230	220
Prepaid expenses and other current assets	20	14	7	6	3
Total current assets	1,392	1,132	726	478	291
Other assets	20	9	6	4	3
Total assets	1,413	1,142	732	482	294
Accounts payable	30	5	9	7	3
Accrued expenses and other current liabilities	61	49	—	—	—
Total current liabilities	91	54	32	19	9
Related party revenue share liability	73	18	0	—	—
Other liabilities	35,000	0	—	—	—
Total liabilities	164	72	32	19	9
Commitments and contingencies (Note 10)	—	—	—	—	—
Preferred stock, $0.0001 par value; 10,000,000 shares authorized; no shares issued or outstanding	0	0	0	0	0
Additional paid-in capital	2,218	1,617	987	624	363
Accumulated other comprehensive income (loss)	2	−59,000	31,000	−494,000	−228,000
Accumulated deficit	−972	−547	−286	−160	−78
Total stockholders' equity	1,248	1,070	701	463	285
Total liabilities and stockholders' equity	1,413	1,142	732	482	294

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	−425	−261	−126	−82	−46
Stock-based compensation expense	87	61	26	10	4
Net accretion on marketable securities	−11	−15	−10	—	—
Other non-cash	345,000	0	0	—	—
Prepaid expenses and other current assets	−6	−8	644,000	−1	−251,000
Other assets	−11	−3	−1	−1	−3
Accounts payable	25	−4	2	4	2
Accrued expenses and other liabilities	11	27	10	—	—
Net cash used in operating activities	−275	−185	−100	−65	−40
Purchases of marketable securities	−1,058	−1,025	−459	−213	−221
Proceeds from maturities and sales of marketable securities	934	451	316	202	1
Net cash used in investing activities	−124	−574	−144	−11	−220
Proceeds from issuance of common stock, net	516	570	338	250	177
Payments of equity issuance costs	−382,000	−483,000	−856,000	−644,000	−3
Payments of insurance costs financed by a third-party	0	−622,000	−777,000	−910,000	−976,000
Net cash provided by financing activities	515	569	337	249	318
Net increase (decrease) in cash and cash equivalents	116	−190	94	173	58
Operating lease right-of-use asset	798,000	0	0	—	—
Equity issuance costs	336,000	6,000	0	90,000	—
Insurance premium financed by a third-party	0	0	1	2	2

Filings

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