Why Nuvation Bio Shares Are Rising

Nuvation Bio Inc (NYSE: NUVB) shares are trading higher after the company announced FDA clearance of its investigational new drug application for NUV-422.

"FDA clearance of our third IND application for NUV-422 is another important achievement for our lead investigational CDK 2/4/6 inhibitor program as we develop our deep pipeline of innovative new cancer therapeutics across a variety of tumor types," said David Hung, M.D., founder, president, and chief executive officer of Nuvation Bio.

"We look forward to sharing data from the Phase 1 monotherapy dose escalation portion in the second half of 2022," Hung stated.

Nuvation Bio has a 52-week high of $15.23 and a 52-week low of $7.30.