Nuvalent, Inc. Financial Summary

Complete Filing Data

Nuvalent, Inc. reported Net Income Loss of -$425.38 million for FY2025.

All values from 10-K, 20-F, and 10-Q filings on SEC EDGAR, organized by financial statement. Scroll each table horizontally for the full history. Blank cells mean Nuvalent, Inc. did not report that metric for that period in XBRL — often because accounting standards changed which tag a company files under (for example, most companies moved revenue to the ASC-606 tag in 2018), so a metric may continue in a different row. Rows marked * merge those successor tags into one continuous series, preferring the audited value from the newest-standard tag where periods overlap.

Income Statement

Annual (10-K / 20-F)

Metric \ Fiscal YearFY2025FY2024FY2023FY2022FY2021FY2020
Net Income *-$425.4M-$260.8M-$126.2M-$81.9M-$46.3M-$14.6M
Research And Development Expense$307.0M$217.8M$113.2M$63.7M$35.6M$15.4M
Operating Income Loss-$414.3M-$280.4M-$149.5M-$86.1M-$45.8M-$16.9M
Operating Expenses$414.3M$280.4M$149.5M$86.1M$45.8M$16.9M
Nonoperating Income Expense-$10.5M$20.4M$23.3M$4.3M-$521.0K$2.3M
General And Administrative Expense$107.3M$62.6M$36.2M$22.4M$10.3M$1.5M
Comprehensive Income Net Of Tax-$423.0M-$260.8M-$125.7M-$82.1M-$46.6M-$14.6M
Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent$2.4M-$90.0K$525.0K-$266.0K-$228.0K
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest-$424.8M-$260.0M-$126.2M-$81.9M
Income Tax Expense Benefit$585.0K$764.0K$0.00$0.00
Other Nonoperating Income Expense$114.0K-$35.0K
Related Party Revenue Share Liability$73.2M$17.9M$0.00

Quarterly (10-Q, single quarters)

Metric \ QuarterQ3 2025Q2 2025Q1 2025Q3 2024Q2 2024Q1 2024Q3 2023Q2 2023Q1 2023Q3 2022Q2 2022Q1 2022Q3 2021Q2 2021Q1 2021Q3 2020Q2 2020Q1 2020
Net Income *-$122.4M-$99.7M-$84.6M-$84.3M-$57.2M-$44.5M-$33.6M-$29.1M-$25.2M-$19.7M-$18.5M-$17.5M-$12.4M-$9.8M-$6.8M-$4.8M-$8.6M$5.4M
Research And Development Expense$83.8M$80.9M$74.4M$60.6M$49.2M$38.6M$29.6M$25.9M$22.1M$14.6M$13.6M$12.7M$9.1M$7.8M$5.5M$3.7M$3.7M
Operating Income Loss-$112.7M-$104.6M-$94.8M-$76.3M-$65.2M-$52.6M-$38.8M-$34.1M-$30.2M-$20.4M-$18.7M-$17.7M-$12.4M-$9.9M-$6.2M-$4.0M-$4.0M
Operating Expenses$112.7M$104.6M$94.8M$76.3M$65.2M$52.6M$38.8M$34.1M$30.2M$20.4M$18.7M$17.7M$12.4M$9.9M$6.2M$4.0M$4.0M
Nonoperating Income Expense-$9.6M$5.1M$10.4M-$8.0M$8.2M$8.5M$5.1M$5.0M$5.0M$672.0K$267.0K$139.0K$1.0K$12.0K-$623.0K-$738.0K-$4.6M
General And Administrative Expense$28.9M$23.7M$20.4M$15.8M$16.0M$14.0M$9.2M$8.1M$8.1M$5.8M$5.2M$5.0M$3.4M$2.0M$678.0K$319.0K$349.0K
Comprehensive Income Net Of Tax-$121.4M-$99.1M-$83.7M-$81.4M-$57.4M-$45.8M-$33.4M-$30.3M-$25.0M-$19.5M-$18.6M-$18.3M-$12.4M-$9.8M-$6.8M-$4.8M
Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent$1.0M$509.0K$913.0K$2.9M-$253.0K-$1.3M$227.0K-$1.2M$192.0K$266.0K-$113.0K-$791.0K-$23.0K$0.00
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest-$122.3M-$99.5M-$84.4M-$84.3M-$57.0M-$44.1M-$33.6M-$29.1M-$25.2M
Income Tax Expense Benefit$132.0K$145.0K$157.0K$40.0K$170.0K$383.0K$0.00
Other Nonoperating Income Expense$672.0K$267.0K$139.0K$1.0K$12.0K$12.0K-$14.0K-$9.0K
Related Party Revenue Share Liability$45.2M$25.4M$19.4M$16.6M

Balance Sheet

Annual (10-K / 20-F)

Metric \ Fiscal YearFY2025FY2024FY2023FY2022FY2021FY2020FY2019
Stockholders Equity$1.25B$1.07B$700.6M$463.0M$285.0M-$31.3M-$17.3M
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents$261.7M$145.7M$335.4M$241.8M$68.5M$10.3M
Marketable Securities Unrealized Gain Loss$2.4M-$90.0K$525.0K-$266.0K-$228.0K
Cash And Cash Equivalents At Carrying Value$261.7M$145.7M$335.4M$241.8M$68.5M$10.3M$3.0M
Retained Earnings Accumulated Deficit-$972.4M-$547.1M-$286.3M-$160.1M-$78.2M-$31.9M
Liabilities Current$91.2M$54.0M$31.8M$19.5M$8.8M$4.4M
Liabilities And Stockholders Equity$1.41B$1.14B$732.4M$482.5M$293.8M$10.6M
Liabilities$164.4M$72.0M$31.8M$19.5M$8.8M$6.6M
Assets Current$1.39B$1.13B$726.5M$478.0M$290.6M$10.6M
Assets$1.41B$1.14B$732.4M$482.5M$293.8M$10.6M
Additional Paid In Capital Common Stock$2.22B$1.62B$986.8M$623.5M$363.5M$842.0K
Accounts Payable Current$30.2M$5.2M$9.3M$7.2M$2.9M$1.3M
Prepaid Expense And Other Assets Current$20.5M$14.1M$6.6M$5.8M$2.5M$314.0K
Marketable Securities Current$1.11B$972.6M$384.5M$230.4M$219.6M$0.00
Other Assets Noncurrent$20.3M$9.3M$5.9M$4.5M$3.2M
Accumulated Other Comprehensive Income Loss Net Of Tax$2.4M-$59.0K$31.0K-$494.0K-$228.0K
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect$116.1M-$189.7M$93.6M$173.3M$58.2M
Amortization Of Debt Discount Premium-$14.7M-$10.1M-$373.0K$215.0K
Accrued Liabilities Current$48.8M$22.5M$12.3M$5.9M$1.2M
Preferred Stock Value$0.00$0.00$0.00$0.00$0.00
Liabilities Fair Value Adjustment-$55.2M-$17.9M$0.00$0.00
Change In Fair Value Of Preferred Stock Tranche Rights$0.00$635.0K-$2.4M
Equity Adjustment Promissory Note Interest-$4.0K-$5.0K
Gains Losses On Extinguishment Of Debt-$580.0K
Temporary Equity Issue Period Increase Or Decrease$2.6M-$1.2M
Equity Issuance Costs Incurred But Not Yet Paid$336.0K$6.0K$0.00$90.0K
Right Of Use Asset Obtained In Exchange For Operating Lease Liability$798.0K$0.00$0.00
Settlement Of Notes Payable And Accrued Interest For Preferred Stock$2.2M
Other Liabilities Noncurrent$35.0K$0.00
Cash And Cash Equivalents Period Increase Decrease$58.2M$7.3M
Accrued Liabilities And Other Liabilities$61.0M$48.8M

Quarterly (10-Q, single quarters)

Metric \ QuarterQ3 2025Q2 2025Q1 2025Q3 2024Q2 2024Q1 2024Q3 2023Q2 2023Q1 2023Q3 2022Q2 2022Q1 2022Q3 2021Q2 2021Q1 2021Q3 2020Q2 2020Q1 2020
Stockholders Equity$845.4M$939.7M$1.01B$1.12B$637.0M$675.0M$396.0M$421.2M$444.0M$236.6M$253.0M$268.9M$301.1M-$47.7M-$38.6M-$24.8M-$20.1M-$11.3M
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents$115.8M$127.5M$120.8M$369.2M$77.7M$98.5M$88.4M$70.9M$90.1M$76.3M$75.9M$67.3M$245.9M$138.9M$14.4M
Marketable Securities Unrealized Gain Loss$1.0M$509.0K$913.0K$2.9M-$253.0K-$1.3M$227.0K-$1.2M$192.0K$266.0K-$113.0K-$791.0K-$23.0K
Cash And Cash Equivalents At Carrying Value$115.8M$127.5M$120.8M$369.2M$77.7M$98.5M$88.4M$70.9M$90.1M$76.3M$75.9M$67.3M$245.9M$138.9M$15.3M$9.3M
Retained Earnings Accumulated Deficit-$853.7M-$731.3M-$631.6M-$472.3M-$387.9M-$330.8M-$248.0M-$214.4M-$185.3M-$134.0M-$114.2M-$95.8M-$60.9M-$48.5M
Liabilities Current$89.2M$75.1M$75.0M$51.1M$38.2M$33.4M$29.1M$20.8M$17.0M$13.0M$10.0M$8.1M$6.8M$5.8M
Liabilities And Stockholders Equity$979.9M$1.04B$1.11B$1.19B$675.2M$708.5M$425.1M$441.9M$461.0M$249.6M$263.0M$277.0M$308.0M$143.5M
Liabilities$134.5M$100.8M$94.7M$67.7M$38.2M$33.4M$29.1M$20.8M$17.0M$13.0M$10.0M$8.1M$6.8M$5.8M
Assets Current$956.9M$1.02B$1.09B$1.18B$666.3M$699.5M$419.8M$437.0M$456.3M$245.2M$258.8M$274.5M$305.1M$139.3M
Assets$979.9M$1.04B$1.11B$1.19B$675.2M$708.5M$425.1M$441.9M$461.0M$249.6M$263.0M$277.0M$308.0M$143.5M
Additional Paid In Capital Common Stock$1.70B$1.67B$1.64B$1.59B$1.03B$1.01B$645.3M$637.0M$629.5M$371.4M$368.4M$365.7M$362.1M$1.1M
Accounts Payable Current$22.0M$13.3M$26.2M$15.9M$7.4M$13.4M$9.8M$8.1M$6.4M$4.6M$4.0M$4.2M$2.5M$3.8M
Prepaid Expense And Other Assets Current$13.8M$14.0M$13.3M$11.4M$8.3M$7.7M$6.5M$5.8M$5.8M$5.2M$1.9M$1.7M$2.7M
Marketable Securities Current$827.4M$878.1M$952.4M$799.1M$580.3M$593.3M$324.8M$360.4M$360.3M$163.8M$181.0M$205.5M$56.5M
Other Assets Noncurrent$23.0M$20.9M$19.3M$9.2M$9.0M$9.0M$5.3M$5.0M$4.7M$4.3M$4.2M$2.6M$2.8M$2.5M
Accumulated Other Comprehensive Income Loss Net Of Tax$2.4M$1.4M$854.0K$1.4M-$1.6M-$1.3M-$1.3M-$1.5M-$302.0K-$866.0K-$1.1M-$1.0M-$23.0K
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect-$24.9M-$236.9M-$151.7M-$1.3M
Amortization Of Debt Discount Premium-$4.3M-$3.4M-$2.5M$276.0K
Accrued Liabilities Current$35.2M$30.8M$20.0M$19.3M$12.7M$10.6M$8.4M$6.0M$3.9M$4.3M$2.0M
Preferred Stock Value$0.00$0.00$0.00$0.00$0.00$0.00$0.00
Liabilities Fair Value Adjustment-$19.8M-$6.0M-$1.4M-$16.6M$0.00$0.00$0.00
Change In Fair Value Of Preferred Stock Tranche Rights$0.00$0.00$0.00$0.00$0.00$635.0K$724.0K$4.5M
Equity Adjustment Promissory Note Interest-$2.0K-$2.0K-$2.0K-$1.0K
Gains Losses On Extinguishment Of Debt-$580.0K
Temporary Equity Issue Period Increase Or Decrease$2.6M
Equity Issuance Costs Incurred But Not Yet Paid
Right Of Use Asset Obtained In Exchange For Operating Lease Liability$798.0K$0.00
Settlement Of Notes Payable And Accrued Interest For Preferred Stock$2.2M
Other Liabilities Noncurrent$140.0K$244.0K$345.0K
Cash And Cash Equivalents Period Increase Decrease-$1.3M$4.1M
Accrued Liabilities And Other Liabilities$67.1M$61.8M$48.9M

Cash Flow Statement

Annual (10-K / 20-F)

Metric \ Fiscal YearFY2025FY2024FY2023FY2022FY2021FY2020
Share Based Compensation$86.5M$60.6M$25.6M$10.3M$3.6M$729.0K
Net Cash Provided By Used In Operating Activities-$275.2M-$185.1M-$99.7M-$65.0M-$40.0M-$14.9M
Net Cash Provided By Used In Financing Activities$515.3M$568.9M$336.8M$248.9M$318.2M$22.3M
Increase Decrease In Prepaid Deferred Expense And Other Assets$6.3M$7.6M-$644.0K$1.5M$251.0K$14.0K
Increase Decrease In Accounts Payable$24.6M-$4.0M$2.2M$4.2M$1.6M$529.0K
Increase Decrease In Other Operating Assets$10.5M$3.4M$1.4M$1.3M$3.2M
Net Cash Provided By Used In Investing Activities-$124.1M-$573.5M-$143.5M-$10.7M-$220.0M
Payments To Acquire Marketable Securities$1.06B$1.02B$459.5M$212.9M$221.0M
Increase Decrease In Accrued Liabilities$26.9M$9.6M$5.5M$3.7M$752.0K
Proceeds From Sale And Maturity Of Marketable Securities$933.7M$451.4M$316.0M$202.3M$1.0M
Payments Of Stock Issuance Costs$382.0K$483.0K$856.0K$644.0K$3.0M
Proceeds From Issuance Of Common Stock$515.7M$570.0M$338.5M$250.5M$177.3M
Proceeds From Stock Options Exercised$13.8M$1.8M$12.0K$15.0K
Proceeds From Issuance Of Convertible Preferred Stock$144.7M$22.5M
Increase Decrease In Accrued Liabilities And Other Operating Liabilities$11.5M$26.9M$9.6M

Quarterly (10-Q, single quarters)

Metric \ QuarterQ1 2025Q1 2024Q1 2023Q1 2022Q1 2021
Share Based Compensation$20.4M$13.9M$5.4M$2.2M$65.0K
Net Cash Provided By Used In Operating Activities-$54.8M-$36.1M-$24.4M-$13.5M-$5.9M
Net Cash Provided By Used In Financing Activities$4.5M$6.0M-$17.0K-$768.0K$10.0M
Increase Decrease In Prepaid Deferred Expense And Other Assets-$818.0K$1.1M$3.0K-$778.0K$47.0K
Increase Decrease In Accounts Payable$20.9M$4.1M-$672.0K$1.4M$197.0K
Increase Decrease In Other Operating Assets$9.2M$3.1M$228.0K-$630.0K$398.0K
Net Cash Provided By Used In Investing Activities$25.4M-$206.8M-$127.3M$13.1M$0.00
Payments To Acquire Marketable Securities$277.2M$283.0M$187.9M$13.9M
Increase Decrease In Accrued Liabilities-$2.1M-$1.2M-$1.2M$402.0K
Proceeds From Sale And Maturity Of Marketable Securities$302.6M$76.2M$60.7M$27.0M$0.00
Payments Of Stock Issuance Costs$6.0K$0.00$90.0K
Proceeds From Issuance Of Common Stock$4.6M$6.5M$619.0K
Proceeds From Stock Options Exercised$619.0K$13.0K
Proceeds From Issuance Of Convertible Preferred Stock$10.0M
Increase Decrease In Accrued Liabilities And Other Operating Liabilities-$373.0K-$2.1M

Per-Share & Share Counts

Annual (10-K / 20-F)

Metric \ Fiscal YearFY2025FY2024FY2023FY2022FY2021FY2020
Weighted Average Number Of Shares Outstanding Basic72.7M66.4M58.2M49.7M21.8M2.9M
Weighted Average Number Of Diluted Shares Outstanding72.7M66.4M58.2M49.7M21.8M2.9M
Earnings Per Share Diluted$-5.85$-3.93$-2.17$-1.65$-2.13$-5.08
Earnings Per Share Basic$-5.85$-3.93$-2.17$-1.65$-2.13$-5.08
Preferred Stock Shares Outstanding0.000.000.000.000.000.00
Preferred Stock Shares Issued0.000.000.000.000.000.00
Preferred Stock Shares Authorized10.0M10.0M10.0M10.0M10.0M0.00
Preferred Stock Par Or Stated Value Per Share$0.00$0.00$0.00$0.00$0.00$0.00

Quarterly (10-Q, single quarters)

Metric \ QuarterQ3 2025Q2 2025Q1 2025Q3 2024Q2 2024Q1 2024Q3 2023Q2 2023Q1 2023Q3 2022Q2 2022Q1 2022Q3 2021Q2 2021Q1 2021Q3 2020Q2 2020
Weighted Average Number Of Shares Outstanding Basic72.1M71.8M71.6M65.7M64.6M64.2M57.1M56.9M56.7M48.4M48.3M48.3M32.1M3.1M3.1M3.0M3.0M
Weighted Average Number Of Diluted Shares Outstanding72.1M71.8M71.6M65.7M64.6M64.2M57.1M56.9M56.7M48.4M48.3M48.3M32.1M3.1M3.1M3.0M3.0M
Earnings Per Share Diluted$-1.70$-1.39$-1.18$-1.28$-0.88$-0.69$-0.59$-0.51$-0.44$-0.41$-0.38$-0.36$-0.39$-3.17$-2.20$-1.57$-2.82
Earnings Per Share Basic$-1.70$-1.39$-1.18$-1.28$-0.88$-0.69$-0.59$-0.51$-0.44$-0.41$-0.38$-0.36$-0.39$-3.17$-2.20$-1.57$-2.82
Preferred Stock Shares Outstanding0.000.000.000.000.000.000.000.000.000.000.000.000.00
Preferred Stock Shares Issued0.000.000.000.000.000.000.000.000.000.000.000.000.00
Preferred Stock Shares Authorized10.0M10.0M10.0M10.0M10.0M10.0M10.0M10.0M10.0M10.0M10.0M10.0M10.0M
Preferred Stock Par Or Stated Value Per Share$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00

Other Metrics

Annual (10-K / 20-F)

Metric \ Fiscal YearFY2025FY2024FY2023FY2022FY2021FY2020
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value$86.5M$60.6M$25.6M$10.3M$3.6M$729.0K
Stock Issued During Period Value Stock Options Exercised$28.8M$13.8M$1.8M$12.0K$15.0K
Repayments Of Insurance Costs Financed By Third Party$0.00$622.0K$777.0K$910.0K$976.0K
Interest And Other Income Expense$44.7M$38.3M$23.3M$4.3M
Insurance Premium Financed By Third Party$0.00$0.00$1.4M$1.8M$2.0M
Stock Issued During Period Value Employee Stock Purchase Plan$1.2M$652.0K$387.0K
Stock Issued During Period Value New Issues$471.8M$540.0M$323.5M$247.9M$174.3M
Interest And Other Income$4.3M$114.0K
Stock Issued During Period Shares Stock Options Exercised1.7M1.5M1.2M476.0K13.5K
Received In Kind Interest$4.0K$5.0K
Interest And Other Income Expense Net
Other Noncash Income Expense-$345.0K$0.00$0.00
Stock Issued During Period Value Stock Options Exercised Restricted Stock Award Gross$42.0M

Quarterly (10-Q, single quarters)

Metric \ QuarterQ3 2025Q2 2025Q1 2025Q3 2024Q2 2024Q1 2024Q3 2023Q2 2023Q1 2023Q3 2022Q2 2022Q1 2022Q3 2021Q2 2021Q1 2021Q3 2020Q2 2020Q1 2020
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value$22.3M$22.1M$20.4M$15.5M$15.1M$13.9M$6.9M$5.8M$5.4M$2.7M$2.4M$2.2M$1.4M$725.0K$65.0K$35.0K$29.0K$623.0K
Stock Issued During Period Value Stock Options Exercised$10.0M$4.0M$6.5M$1.4M$1.5M$619.0K$394.0K$200.0K$13.0K
Repayments Of Insurance Costs Financed By Third Party$0.00$466.0K$546.0K$781.0K
Interest And Other Income Expense$10.2M$11.1M$11.8M$8.6M$8.2M$8.5M
Insurance Premium Financed By Third Party
Stock Issued During Period Value Employee Stock Purchase Plan$490.0K$292.0K$193.0K
Stock Issued During Period Value New Issues$540.1M$174.3M
Interest And Other Income$5.1M$5.0M$5.0M$672.0K$267.0K$139.0K
Stock Issued During Period Shares Stock Options Exercised217.9K425.7K
Received In Kind Interest$2.0K
Interest And Other Income Expense Net$8.6M$8.2M$8.5M$5.1M$5.0M$5.0M
Other Noncash Income Expense-$32.0K$0.00
Stock Issued During Period Value Stock Options Exercised Restricted Stock Award Gross$4.8M$5.3M$4.6M

Most recent annual filing with the SEC: February 26, 2026

Data sourced from SEC EDGAR public filings as of August 5, 2026.