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

NUVL$123.97+46.55% · past yearDBEQ Basic

Daily closing prices

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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Frequently asked questions

What is Nuvalent, Inc.'s CIK number?

Nuvalent, Inc.'s SEC CIK number is 0001861560 (1861560). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find Nuvalent, Inc.'s SEC filings?

All of Nuvalent, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did Nuvalent, Inc. last report earnings?

Nuvalent, Inc. (NUVL) most recently filed an earnings 8-K with the SEC on May 7, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001861560-26-000020). This is Nuvalent, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is Nuvalent, Inc.'s most recent earnings 8-K?

Nuvalent, Inc.'s latest earnings 8-K (Item 2.02) was filed May 7, 2026 under accession 0001861560-26-000020. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

View Nuvalent, Inc.'s latest earnings 8-K →
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