Core Insights - Nuvation Bio Inc. (NYSE:NUVB) experienced a significant increase in share price, reaching a three-year high of $7.35 before closing at $7.15, up 48.96% on the day [1][2] - B. Riley initiated coverage on Nuvation Bio with a "buy" recommendation and a price target of $12, indicating strong confidence in the commercial rollout of its lung cancer treatment drug, Ibtrozi (taletrectinib) [2] - The FDA approved Ibtrozi in June, and Nuvation Bio reported that nearly 204 patients have begun treatment, with projected revenues of $168 million in 2026 and $302 million in 2027 from this drug [3] Financial Performance - Nuvation Bio's net loss widened by 35% in Q3 to $55.79 million, compared to $41.21 million in the same period last year, primarily due to a 17% increase in operating loss and expenses [4] - Despite the increased losses, revenues surged by 1,704% to $13 million from $727,000 in the comparable period last year [4]

Core Insights - Nuvation Bio's shares surged by 15.7% following two significant developments: the enrollment of the first patient in a phase 3 clinical study for Ibtrozi and a buy rating initiated by Jefferies with a price target of $10, indicating a potential upside of approximately 210% from the previous closing price [1][2]. Group 1 - Nuvation Bio has commenced its phase 3 clinical study for Ibtrozi, targeting resected ROS1-positive early stage non-small cell lung cancer (NSCLC) [2]. - Jefferies initiated coverage on Nuvation Bio with a buy rating and set a price target of $10, which is the highest 12-month target among analysts [3][4]. - All 10 analysts surveyed by S&P Global rated Nuvation Bio as a "buy" or better, reflecting strong enthusiasm on Wall Street [4]. Group 2 - The primary catalyst for the stock's increase was Jefferies' optimistic coverage, as investors had already anticipated patient enrollment in the phase 3 study [3]. - Nuvation Bio is currently unprofitable and considered a "one-trick pony," which may not appeal to risk-averse investors, despite the potential commercial success of Ibtrozi [6]. - The stock is not included in a list of top investment recommendations by The Motley Fool Stock Advisor, which suggests there are other stocks with potentially higher returns [8].