Is NUVB a buy

**Nuvation Bio (NUVB) appears to be a promising investment**, and here's why:

1. **Strong Pipeline and Acquisition**: Nuvation Bio's recent acquisition of AnHeart Therapeutics has significantly bolstered its pipeline with two late-stage assets, taletrectinib and safusidenib. These acquisitions have positioned the company for potential commercial success and diversified its portfolio.
2. **Financial Position**: Despite a net loss of $0.07 per share and a net loss of $518,494 thousand for the nine months ended September 30, 2024, the company has managed its expenses effectively and maintains a strong cash position. This financial stability is a positive indicator for investors.
3. **Regulatory Progress**: The company has submitted a New Drug Application (NDA) for taletrectinib to the FDA, positioning it to potentially commercialize the drug as early as mid-2025. This regulatory progress is a significant milestone and a testament to the company's ability to navigate the drug development process.
4. **Analyst Confidence**: The consensus rating for NUVB is a "Strong Buy" with an average price target of $5.67, indicating analyst confidence in the company's potential. Additionally, the "Outperform" ratings from Wedbush and Royal Bank of Canada, along with a target price of $5.00, support this view.
5. **Market Potential**: The combined estimated peak sales potential for taletrectinib and safusidenib is projected to reach $640 million, highlighting the substantial market opportunity these assets represent.
6. **Stock Performance and Technical Indicators**: NUVB's closing price is at its resistance level of $2.54, which is also its support level. This price point has been stable, and the fact that it is at both the resistance and support levels suggests a potential breakout.

7. **Valuation Metrics**: The company's P/E ratio is -12.41, which is negative and suggests that the company is not profitable as currently reported. However, the Price to Book Ratio is 1.7, and the P/S ratio is 296.56, which can be indicative of growth potential in the biopharmaceutical sector.

In conclusion, Nuvation Bio's strong pipeline, financial stability, regulatory progress, and analyst confidence make it a compelling buy. However, investors should consider the company's negative earnings per share and the potential for future losses in the near term, as indicated by the negative P/E ratio and the expected continued increase in operating losses. The potential for significant growth and the company's strategic positioning in the oncology market make NUVB a stock to watch closely.