Nuvation Bio, Inc. (NYSE:NUVB) is one of the 10 Best Small-Cap Biotech Stocks According to Hedge Funds. The stock’s price more than doubled from a year ago, up 156.7%, while it registered a 40.79% increase year-to-date. On April 16, Wedbush analyst David Nierengarten maintained a Buy rating on Nuvation Bio with a price target of $11.00.
On April 1, Nuvation Bio announced that it had amended its existing exclusive license agreement for safusidenib with Daiichi Sankyo to include Japan rights, effectively securing exclusive global development and commercialization rights of the investigational medicine. It said the amended agreement enables Nuvation Bio to expand its ongoing pivotal SIGMA study of safusidenib into Japan and provides rights to all previously generated and future data to support further publication of safusidenib results in IDH1-mutant glioma.
Safusidenib is a novel, oral, potent, brain-penetrant, selective inhibitor of mutant IDH1 that is currently being evaluated in the ongoing Phase 3 SIGMA study for the maintenance treatment of patients with IDH1-mutant astrocytoma who have high-risk features following standard-of-care. Results of Phase 1 and Phase 2 single-arm studies have shown that safusidenib has shown encouraging efficacy signals across all IDH1-mutant glioma grades and treatment lines, including durable responses and prolonged progression-free survival that show tumor shrinkage and disease control.
Nuvation Bio, Inc. (NYSE:NUVB) is a global oncology company focused on tackling some of the toughest challenges in cancer treatment to develop therapies that create a profound, positive impact on patients’ lives. The company’s diverse pipeline includes taletrectinib (IBTROZI), a next-generation ROS1 inhibitor; safusidenib, a brain-penetrant IDH1 inhibitor; and an innovative drug-drug conjugate (DDC) program.
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