Why did Nuvation Bio's expenses surge in Q2 2024?

Nuvation Bio's expenses surged in Q2 2024 due to **Acquisition and Development Costs** related to their recent acquisition of AnHeart Therapeutics. This strategic move transformed Nuvation Bio into a late-stage, global oncology company, expanding its clinical programs and pipeline.

1. **Acquisition of AnHeart Therapeutics**: The acquisition brought significant costs associated with integrating the acquired company's operations, including restructuring and consolidating their clinical development programs.
2. **Clinical Development Programs**: Nuvation Bio has been advancing multiple internal programs in various stages of preclinical and clinical development. The costs associated with these developments, including conducting clinical trials and research, would have contributed to the overall expenses.

In summary, the surge in Nuvation Bio's expenses in Q2 2024 is primarily due to the costs associated with their acquisition and the development of new clinical programs.