$NUVB
Nuvation Bio Inc.

2022 Q1 Form 10-Q Financial Statement

#000095017022008530 Filed on May 09, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $7.463M $4.610M
YoY Change 61.89% 138.86%
% of Gross Profit
Research & Development $20.73M $15.88M
YoY Change 30.54% 117.67%
% of Gross Profit
Depreciation & Amortization $46.00K $30.00K
YoY Change 53.33% 50.0%
% of Gross Profit
Operating Expenses $28.19M $20.48M
YoY Change 37.63% 122.17%
Operating Profit -$28.19M -$20.48M
YoY Change 37.63% 122.17%
Interest Expense $744.0K $190.0K
YoY Change 291.58% -64.15%
% of Operating Profit
Other Income/Expense, Net $6.899M $82.00K
YoY Change 8313.41% -82.7%
Pretax Income -$21.29M -$20.40M
YoY Change 4.37% 133.27%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$21.29M -$20.40M
YoY Change 4.37% 133.27%
Net Earnings / Revenue
Basic Earnings Per Share -$0.10
Diluted Earnings Per Share -$99.77K -$49.40K
COMMON SHARES
Basic Shares Outstanding 213.4K
Diluted Shares Outstanding 213.4K

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $737.7M $824.7M
YoY Change -10.55%
Cash & Equivalents $106.2M $638.9M
Short-Term Investments $631.5M $185.8M
Other Short-Term Assets $7.841M $5.100M
YoY Change 53.75%
Inventory
Prepaid Expenses $7.841M $5.138M
Receivables
Other Receivables
Total Short-Term Assets $748.0M $830.9M
YoY Change -9.97%
LONG-TERM ASSETS
Property, Plant & Equipment $747.0K $772.0K
YoY Change -3.24%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $421.0K $400.0K
YoY Change 5.25%
Other Assets
YoY Change
Total Long-Term Assets $3.768M $1.193M
YoY Change 215.84%
TOTAL ASSETS
Total Short-Term Assets $748.0M $830.9M
Total Long-Term Assets $3.768M $1.193M
Total Assets $751.8M $832.1M
YoY Change -9.65%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.673M $6.003M
YoY Change 61.14%
Accrued Expenses $7.121M $3.984M
YoY Change 78.74%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $21.44M $9.987M
YoY Change 114.69%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $6.801M $15.70M
YoY Change -56.68%
Total Long-Term Liabilities $6.801M $15.70M
YoY Change -56.68%
TOTAL LIABILITIES
Total Short-Term Liabilities $21.44M $9.987M
Total Long-Term Liabilities $6.801M $15.70M
Total Liabilities $28.24M $25.72M
YoY Change 9.83%
SHAREHOLDERS EQUITY
Retained Earnings -$184.1M $96.40M
YoY Change -290.98%
Common Stock $913.9M $901.7M
YoY Change 1.35%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $723.6M $806.3M
YoY Change
Total Liabilities & Shareholders Equity $751.8M $832.1M
YoY Change -9.65%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$21.29M -$20.40M
YoY Change 4.37% 133.27%
Depreciation, Depletion And Amortization $46.00K $30.00K
YoY Change 53.33% 50.0%
Cash From Operating Activities -$24.90M -$14.73M
YoY Change 69.04% -268.96%
INVESTING ACTIVITIES
Capital Expenditures -$7.000K -$110.0K
YoY Change -93.64% -210.0%
Acquisitions
YoY Change
Other Investing Activities -$5.544M -$970.0K
YoY Change 471.55% -109.06%
Cash From Investing Activities -$5.551M -$1.085M
YoY Change 411.61% -110.23%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.264M 625.0M
YoY Change -99.32%
NET CHANGE
Cash From Operating Activities -24.90M -14.73M
Cash From Investing Activities -5.551M -1.085M
Cash From Financing Activities 4.264M 625.0M
Net Change In Cash -26.22M 609.1M
YoY Change -104.3% 32130.11%
FREE CASH FLOW
Cash From Operating Activities -$24.90M -$14.73M
Capital Expenditures -$7.000K -$110.0K
Free Cash Flow -$24.89M -$14.62M
YoY Change 70.27% -269.64%

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<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">1. Nature of Operations</span></p><p style="text-indent:6.667%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Nuvation Bio Inc. and subsidiaries (“Nuvation Bio”), a Delaware corporation, is a biopharmaceutical company tackling some of the greatest unmet needs in oncology by developing differentiated and novel therapeutic candidates. Nuvation Bio was incorporated on March 20, 2018 (inception date) and has offices in New York and San Francisco.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:6.667%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">On February 10, 2021, (the “Closing Date”), Nuvation Bio Inc., a Delaware corporation (“Legacy Nuvation Bio”), Panacea Acquisition Corp. (“Panacea”), and Panacea Merger Subsidiary Corp, a Delaware corporation and a direct, wholly owned subsidiary of Panacea (“Merger Sub”) consummated the transactions contemplated by an Agreement and Plan of Merger among them dated </span><span style="font-size:10.0pt;font-family:Times New Roman;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">October 20, 2020</span></span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> (“Merger Agreement”).</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:6.667%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Pursuant to the terms of the Merger Agreement, a business combination of Panacea and Legacy Nuvation Bio was effected through the merger of Merger Sub with and into Legacy Nuvation Bio, with Legacy Nuvation Bio surviving as a wholly owned subsidiary of Panacea (the “Merger”) and, collectively with the other transactions described in the Merger Agreement. On the Closing Date, Legacy Nuvation Bio changed its name to Nuvation Bio Operating Company Inc. and Panacea changed its name to Nuvation Bio Inc. (the “Company” or “Nuvation Bio”).</span></p>
CY2022Q1 us-gaap Marketable Securities Gain Loss
MarketableSecuritiesGainLoss
-214000
CY2021Q1 us-gaap Marketable Securities Gain Loss
MarketableSecuritiesGainLoss
45000
CY2022Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-184100000
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-24900000
CY2022Q1 nuvb Cash And Cash Equivalents And Marketable Securities
CashAndCashEquivalentsAndMarketableSecurities
737700000
CY2022Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenue and expenses during the year. Accordingly, actual results could differ from those estimates and those differences could be significant. Significant estimates and assumptions reflected in the accompanying consolidated financial statements include, but are not limited to, the fair value of in-process research and development acquired, warrant liabilities, leases, stock options granted and depreciation expense.</span>
CY2022Q1 us-gaap Equity Securities Fv Ni Realized Gain
EquitySecuritiesFvNiRealizedGain
166000
CY2021Q1 us-gaap Equity Securities Fv Ni Realized Gain
EquitySecuritiesFvNiRealizedGain
0
CY2022Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Concentration of Credit Risk</span></p><p style="text-indent:6.667%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Financial instruments that potentially subject the Company to concentrations of credit risk are primarily cash, cash equivalents and marketable securities. The Company maintains its cash and cash equivalent balances in the form of business checking accounts and money market accounts, the balances of which, at times, may exceed federally insured limits. Exposure to cash and cash equivalents credit risk is reduced by placing such deposits with major financial institutions and monitoring their credit ratings. Marketable securities consist primarily of government and corporate bonds, municipal securities and exchange traded fund with fixed interest rates. Exposure to credit risk of marketable securities is reduced by maintaining a diverse portfolio and monitoring their credit ratings.</span></p>
CY2022Q1 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
-171000
CY2021Q1 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
0
CY2022Q1 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
5787472
CY2022Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
11.50
CY2022Q1 us-gaap Sale Of Stock Description Of Transaction
SaleOfStockDescriptionOfTransaction
the exercise of the Warrants may be settled in cash upon the occurrence of a tender offer or exchange that involves more than 50% of the outstanding shares of the Company’s common stock.
CY2021Q1 us-gaap Equity Securities Fv Ni Unrealized Loss
EquitySecuritiesFvNiUnrealizedLoss
0
CY2022Q1 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
51182000
CY2022Q1 us-gaap Marketable Securities
MarketableSecurities
631496000
CY2022Q1 nuvb Total Financial Assets
TotalFinancialAssets
682678000
CY2022Q1 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
4713000
CY2021Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
84708000
CY2022Q1 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
7000
CY2021Q1 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
45000
CY2022Q1 us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
50000
CY2021Q1 us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
0
CY2022Q1 us-gaap Debt Securities Available For Sale Unrealized Gain Loss
DebtSecuritiesAvailableForSaleUnrealizedGainLoss
-43000
CY2021Q1 us-gaap Debt Securities Available For Sale Unrealized Gain Loss
DebtSecuritiesAvailableForSaleUnrealizedGainLoss
45000
CY2022Q1 us-gaap Equity Securities Fv Ni Unrealized Loss
EquitySecuritiesFvNiUnrealizedLoss
337000
CY2021Q4 us-gaap Marketable Securities
MarketableSecurities
632969000
CY2021Q4 nuvb Total Financial Assets
TotalFinancialAssets
717677000
CY2021Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
11037000
CY2022Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
688895000
CY2022Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
82000
CY2022Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
6299000
CY2022Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
682678000
CY2021Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
719028000
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
363000
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1714000
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
717677000
CY2022Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
509987000
CY2022Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
5759000
CY2022Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
16634000
CY2022Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
540000
CY2022Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
526621000
CY2022Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
6299000
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
445206000
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
1714000
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
0
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
0
CY2021Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
445206000
CY2021Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
1714000
CY2022Q1 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
474440000
CY2022Q1 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
157056000
CY2022Q1 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis
631496000
CY2022Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
300000
CY2021Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
300000
CY2022Q1 us-gaap Variable Lease Cost
VariableLeaseCost
0
CY2021Q1 us-gaap Variable Lease Cost
VariableLeaseCost
0
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
300000
CY2021Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
300000
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
2785000
CY2022Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.060
CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y4M24D
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
700000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
552000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
599000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
615000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
711000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
3177000
CY2022Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
392000
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-1185000
CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
1557000
CY2022Q1 us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
-5075000
CY2021Q1 us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
531000
CY2022Q1 us-gaap Debt Securities Available For Sale Unrealized Gain Loss
DebtSecuritiesAvailableForSaleUnrealizedGainLoss
-43000
CY2021Q1 us-gaap Debt Securities Available For Sale Unrealized Gain Loss
DebtSecuritiesAvailableForSaleUnrealizedGainLoss
45000
CY2022Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-6217000
CY2021Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
981000
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3577000
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1566000
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Period Increase Decrease Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingPeriodIncreaseDecreaseWeightedAverageExercisePrice
5.73
CY2022Q1 us-gaap Market Risk Benefit Change In Fair Value Gain Loss
MarketRiskBenefitChangeInFairValueGainLoss
6300000
CY2022Q1 us-gaap Fair Value Equity Level1 To Level2 Transfers Description
FairValueEquityLevel1ToLevel2TransfersDescription
There were no transfers between Levels 1, 2 or 3 during the period ended March 31, 2022
CY2022Q1 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
4713000
CY2021Q4 nuvb Changes In Liabilities Classified In Level3 Of Fair Value Hierarchy
ChangesInLiabilitiesClassifiedInLevel3OfFairValueHierarchy
406000
CY2022Q1 nuvb Change In Fair Value Of Private Warrants Liability Recognized In Earnings
ChangeInFairValueOfPrivateWarrantsLiabilityRecognizedInEarnings
-235000
CY2022Q1 nuvb Changes In Liabilities Classified In Level3 Of Fair Value Hierarchy
ChangesInLiabilitiesClassifiedInLevel3OfFairValueHierarchy
171000

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