Nuvation Bio Inc. · NYSE:NUVB
Nuvation Bio — Investor Presentation (January 2026)
37 slides from Nuvation Bio's investor presentation, Jan 12, 2026
Slide 1: Driven by Science, Focused on Life
DRIVEN BY SCIENCE FOCUSED ON LIFE January 2026 Exhibit 99.3
Slide 2: Forward-looking statements
Forward-looking statements Certain statements included in this presentation (this “Presentation”) that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statemen
Slide 3: Nuvation Bio is focused on tackling the greatest challenges in cancer treatment
Nuvation Bio is focused on tackling the greatest challenges in cancer treatment IBTROZI® (taletrectinib) is a next generation, potentially best-in-class ROS1 inhibitor approved for advanced ROS1+ NSCLC in the U.S., Japan, and China Global, commercial-stage oncology company focused on innovating and
Slide 4: Commercial-stage company following IBTROZI approval, enrolling pivotal study for safusidenib
Nuvation Bio is a commercial-stage company following approval of IBTROZI in the U.S., and is also enrolling a pivotal study for safusidenib Program Target Indication(s) Current Stage of Development Anticipated Milestones & Recent Updates Commercial Partners Program Potential Indication(s) Preclinica
Slide 5: Partnership with Eisai validates global commercial potential of IBTROZI
Recently announced partnership with Eisai further validates the global commercial potential and differentiated clinical profile of IBTROZI Exclusive licensing agreement for IBTROZI in Europe and additional countries1 outside U.S., China, and Japan Total cash consideration of up to ~$230 million incl
Slide 6: IBTROZI | ROS1i Advanced ROS1+ NSCLC
IBTROZI | ROS1i Advanced ROS1+ NSCLC Approved by U.S. FDA in June 2025
Slide 7: IBTROZI is a next generation, potentially best-in-class ROS1 TKI
IBTROZI is a next generation, potentially best-in-class ROS1 TKI obtained from the April 2024 acquisition of AnHeart Therapeutics NDA: New Drug Application. FDA: Food and Drug Administration. 1. IBTROZI prescribing information; Perol et al., Journal of Clinical Oncology, 2025. 2. Based on ~3,000 new
Slide 8: ROS1 TKI new patient starts typically decline in the fourth quarter
New patient starts for ROS1 TKIs have typically declined in the fourth quarter due to the impact of the holiday season Estimated ROS1 TKI new patient starts per quarter per IQVIA Source: IQVIA NPA NBRx monthly data through 2024 for Augtyro, Rozlytrek, and Xalkori.
Slide 9: U.S. launch of IBTROZI continued to grow despite seasonality
U.S. launch of IBTROZI continued to grow despite seasonality, reinforcing its compelling clinical profile and Nuvation Bio’s commercial expertise 432 new patient starts since launch – a rate of ~6x faster than prior ROS1 TKIs IBTROZI is now the preferred TKI for advanced ROS1+ NSCLC Multiple repeat
Slide 10: Opportunity to improve upon approved ROS1 TKIs before IBTROZI launch
ORR: confirmed Overall response rate; DOR: Duration of response; IC-ORR: Intracranial overall response rate; PFS: Progression free survival. Note: These data are derived from different clinical studies, with differences in study design and patient populations. No head-to-head studies have been condu
Slide 11: IBTROZI demonstrated high and durable responses in TKI-naïve patients
IBTROZI demonstrated high and durable responses in TKI-naïve patients – median DOR is now 50 months cORR: confirmed Overall response rate; DOR: Duration of response; IC-cORR: Intracranial confirmed overall response rate; JCO: Journal of Clinical Oncology; PFS: Progression free survival; sNDA: supple
Slide 12: No solid tumor drugs match IBTROZI's combined ORR and mDOR in first line
No drugs in solid tumor oncology have demonstrated the combined ORR and mDOR seen with IBTROZI in the first line (TKI-naïve) setting RETEVMO (selpercatinib)1 84% 22 months 20 months AUGTYRO (repotrectinib)2 79% 36 months 34 months ALECENSA (alectinib)3 79% 26 months < 18 months TAGRISSO (osimertinib
Slide 13: IBTROZI efficacy in TKI-pretreated patients
cORR: confirmed Overall response rate; DOR: Duration of response; IC-cORR: Intracranial confirmed overall response rate; PFS: Progression free survival; TKI: Tyrosine kinase inhibitor. 1. Perol et al., Journal of Clinical Oncology, 2024; Median duration of follow-up of 21.0 months for the pooled dat
Slide 14: Dose modification rates and neurological AEs of previously approved TKIs
Dose modification rates of previously approved TKIs are elevated, while neurological AEs remain a significant issue for patients in the real-world setting Repotrectinib Entrectinib Crizotinib AE: Adverse event; TKI: Tyrosine kinase inhibitor. Note: These data are derived from different clinical stud
Slide 15: IBTROZI's safety profile is favorable
IBTROZI’s safety profile is favorable as only 6.5% of 337 patients with ROS1+ NSCLC having a TEAE leading to drug discontinuation Adverse Reaction: n (%) Any grade Grade 1 Grade 2 Grade ≥3 Diarrhea 214 (64) 169 (50) 38 (11) 7 (2) Nausea 159 (47) 123 (36) 31 (9) 5 (1) Vomiting 146 (43) 114 (34) 27 (8
Slide 16: IBTROZI is well-tolerated with low treatment discontinuation
ALT: alanine aminotransferase; AST: Aspartate aminotransferase; TEAE: Treatment-emergent adverse event. Source: IBTROZI prescribing information and Li, et al., WCLC Presentation, 2025. Note: IBTROZI safety population includes 337 patients with ROS1+ NSCLC who received > 1 dose of IBTROZI (600mg). Pl
Slide 17: IBTROZI has ~20x selectivity for ROS1 over TRKb
IBTROZI has 11 – 20x selectivity for ROS1 over TRKb in enzymatic assays and cell growth inhibition assays IC50 nM Fold selectivity CD74-ROS1 SLC34A-ROS1 GOPC-ROS1 ROS1 average ETV6-NTRK2 (TRKb) IBTROZI 1.7 11.1 3.8 5.5 103 19x Repotrectinib 0.8 6.5 2.2 3.2 3.3 1x IC50 nM Fold selectivity ROS1 TRKb I
Slide 18: ROS1+ NSCLC market is a sizeable global commercial opportunity
ROS1+ NSCLC market represents a sizeable global commercial opportunity – IBTROZI now approved in U.S., Japan, and China mPFS: median progression-free survival; TKI: tyrosine kinase inhibitor. 1. American Cancer Society (2025). 2. National Center for Biotechnology Information: Gendarme et al., Curr O
Slide 19: Theoretical maximum U.S. ROS1+ NSCLC market opportunity
NSCLC: Non-small cell lung cancer. Note: Based on median progression-free survival demonstrated by IBTROZI in the first line setting (Pooled TRUST-I and TRUST-II data: Perol et al., Journal of Clinical Oncology, 2024). 1. Reflects midpoint of epidemiology assumptions based on ROS1+ lung cancer repre
Slide 20: New NCCN Guidelines include taletrectinib as a preferred therapy
New NCCN Guidelines now include taletrectinib as a preferred therapy, while contraindicating IO/chemo and recommending ROS1 TKIs for ROS1+ NSCLC Source: National Comprehensive Cancer Network 2026 and 2024. NCCN Guidelines 2024 NCCN Guidelines 2026 ROS1 Rearrangement: First Line Therapy ROS1 Rearrang
Slide 21: IBTROZI could multiply the ROS1+ NSCLC market, as seen in ALK and EGFR
Based on its clinical profile, IBTROZI has the potential to multiply the size of the ROS1+ NSCLC market, similar to precedent growth seen in ALK and EGFR Precedent NSCLC markets (First line)1 ROS1+ NSCLC (First line)2 ALK+ NSCLC mo.: months; ORR: Overall response rate; mPFS: median Progression-free
Slide 22: Osimertinib captured >95% share; U.S. EGFR market grew >3x
Osimertinib captured >95% market share after incremental, but meaningful improvements over 1st gen. TKIs; U.S. EGFR market has grown >3x since launch Source: Evaluate Pharma, Earning Reports from AstraZeneca (osimertinib, erlotinib) and Roche (gefitinib) from 2013 to 2024. Note: Net revenue of afati
Slide 23: Safusidenib | mIDH1i Diffuse IDH1-mutant glioma
Safusidenib | mIDH1i Diffuse IDH1-mutant glioma Enrolling pivotal study
Slide 24: Safusidenib is a potentially best-in-class mIDH1 inhibitor
Safusidenib is a potentially best-in-class mIDH1 inhibitor for diffuse IDH1-mutant glioma, which was also obtained from the acquisition of AnHeart BID: Twice-a-day dosing; CR: Complete response; mIDH1: mutant IDH1; RP2D: Recommended Phase 2 dose. 1. In August 2024, the U.S. FDA approved Servier Phar
Slide 25: Diffuse IDH1-mutant glioma market is a sizeable commercial opportunity
The diffuse IDH1-mutant glioma market represents a sizeable commercial opportunity, particularly because patients can remain on drug for years Source: 2025 CBTRUS Statistical Report: Primary Brain and Other Central Nervous System Tumors Diagnosed in the United States in 2017–2021; UpToDate – a Wolte
Slide 26: Vorasidenib is the only approved IDH inhibitor; >$1 billion peak sales potential
Vorasidenib is the only IDH inhibitor approved for the treatment of IDH-mutant glioma – early launch suggests >$1 billion peak sales potential Servier acquired vorasidenib through its 2021 acquisition of Agios’ oncology business In May ‘24, Royalty Pharma acquired Agios’ 15% royalty1 on U.S. net sal
Slide 27: Vorasidenib clinical results in IDH-mutant glioma
cORR: confirmed Objective response rate; PFS: Progression-free survival. Note: These data are derived from different clinical studies, with differences in study design and patient populations. 1. Cloughesy, et al., Lancet Oncol, 2025; Includes patients with non-enhancing IDH1/2-mutant grade 2 glioma
Slide 28: Safusidenib has shown promising efficacy signals in IDH1-mutant glioma
BID: Twice-a-day dosing; CR: Complete Response; ORR: Objective response rate; PFS: Progression-free survival; PR: Partial response. Note: These data are derived from different clinical studies, with differences in study design and patient populations. 1. Arakawa et al., Neuro-Oncology, 2025; include
Slide 29: Ongoing pivotal study of safusidenib in high-grade, high-risk glioma
Ongoing pivotal study is evaluating safusidenib for patients with high-grade and high-risk IDH1-mutant gliomas in the maintenance setting BID: Twice-a-day dosing; BICR: Blinded Independent Central Review; IDH1: isocitrate dehydrogenase 1; RANO: Response Assessment in Neuro-Oncology. Notes: Participa
Slide 30: New oligodendroglioma cohort may provide earlier data readout
New cohort evaluating safusidenib in grade 3 oligodendroglioma – a portion of the high-grade population – may provide an earlier data readout (2028) BID: Twice-a-day dosing; BICR: Blinded Independent Central Review; IDH1: isocitrate dehydrogenase 1; KPS: Karnofsky Performance Status; RANO, Response
Slide 31: Safusidenib treatment-emergent adverse events
TEAEs All Grades ≥ Grade 3 All Grades ≥ Grade 3 All TEAEs 45 (96) 20 (43) 26 (96) 10 (37) Alopecia 13 (28) 0 (0) 16 (59) 0 (0) Arthralgia 13 (28) 1 (2) 15 (56) 1 (4) Skin hyperpigmentation 25 (53) 0 (0) 13 (48) 0 (0) ALT increased 4 (9) 3 (6) 11 (41) 2 (7) Rash 11 (23) 0 (0) 10 (37) 0 (0) AST increa
Slide 32: NUV-868 | BETi Advanced solid tumors
NUV-868 | BETi Advanced solid tumors Completed Phase 1 and Phase 1b studies Future indications Currently evaluating next steps for program
Slide 33: NUV-868 is the most BD2-selective BET inhibitor in development
First generation BET inhibitors have been toxic and poorly effective; NUV-868 is the most BD2-selective BET inhibitor in development BET proteins regulate the expression of many oncogenes, including cMYC – an oncogene that has not been targetable directly with a drug Non-selective BD1/2-inhibitors h
Slide 34: DDC Platform Advanced solid tumors
DDC Platform Advanced solid tumors Evaluating preclinical candidates
Slide 35: Nuvation Bio is developing drug-drug conjugates
Oral or IV delivery Improves therapeutic index vs. untargeted warhead IV delivery Limited to cell-surface targets Complex and expensive CMC Antibody-drug conjugate Nuvation Bio is developing a new type of targeted oncology candidate through its Drug-drug conjugate (DDC) platform Drug-drug conjugates
Slide 36: DDCs are designed to bind two different targets simultaneously
DDCs are designed to bind TWO different targets simultaneously Two separate drugs with two separate targets Drug Target X Drug Target Y Drug X Drug Y Fuse Binding Domains Drug Target X Drug Target Y Drug X Drug Y
Slide 37: Nuvation Bio is focused on tackling the greatest challenges in cancer treatment
Nuvation Bio is focused on tackling the greatest challenges in cancer treatment Nuvation Bio pipeline is led by safusidenib Safusidenib | mIDH1 inhibitor: Enrolling pivotal study in high-grade and high-risk IDH1-mutant glioma2 NUV-868 | BD2-selective BET inhibitor: Completed Phase 1 and Phase 1b stu