The company has recorded zero revenue for six consecutive quarters, while R&D expenditures fluctuated from $777,000 in 2025Q1 to $8 million by 2025Q4, highlighting the binary nature of its clinical development model.
| Sales/Revenue | 0 | 0 | 4.49M | -10.7M | 88.03M | 1.54B | 30M | 53.78M | 11.27M |
| Revenue Growth % | - | -100% | 141.93% | -112.15% | -94.29% | 5042.23% | -44.22% | 377.4% | - |
| Cost of Goods Sold | 0 | 0 | 0 | 0 | 46.43M | 0 | 0 | 0 | 0 |
| COGS % of Revenue | - | - | - | - | 52.75% | - | - | - | - |
| Gross Profit | 0 | 0 | 4.49M | -10.7M | 41.59M | 1.54B | 30M | 53.78M | 11.56M |
| Gross Margin % | - | - | 100% | 100% | 47.25% | 100% | 100% | 100% | 102.58% |
| Gross Profit Growth % | - | -100% | 141.93% | -125.72% | -97.3% | 5042.23% | -44.22% | 365.39% | - |
| Operating Expenses | 13.48M | 375.36M | 515.65M | 355.38M | 2.11B | 1.39B | 1.49B | 492.42M | 292.51M |
| OpEx % of Revenue | - | - | 11495.09% | -3322.17% | 2400.31% | 89.92% | 4983.23% | 915.6% | 2596.56% |
| Selling, General & Admin | 4.48M | 216.46M | 63.91M | 199.88M | 899.94M | 402.41M | 654.55M | 66.39M | 25.44M |
| SG&A % of Revenue | - | - | 1424.67% | -1868.47% | 1022.36% | 26.09% | 2181.84% | 123.45% | 225.79% |
| Research & Development | 8.99M | 158.9M | 114.36M | 155.51M | 190.29M | 984.69M | 840.41M | 426.03M | 267.07M |
| R&D % of Revenue | - | - | 2549.35% | -1453.7% | 216.18% | 63.83% | 2801.38% | 792.15% | 2370.77% |
| Other Operating Expenses | 0 | 0 | 337.38M | -247 | 1.02B | 0 | 0 | 0 | 0 |
| Operating Income | -13.48M | -375.36M | -511.16M | -366.08M | -2.07B | 155.57M | -1.46B | -455.75M | -273.89M |
| Operating Margin % | - | - | -11395.09% | 3422.17% | -2353.06% | 10.08% | -4883.23% | -847.41% | -2431.25% |
| Operating Income Growth % | 96.41% | 26.57% | -39.63% | 82.33% | -1431.43% | 110.62% | -221.44% | -66.4% | - |
| EBITDA | -13.35M | -373.45M | -507.79M | -364.66M | -2.06B | 168.31M | -1.46B | -449.01M | -272.25M |
| EBITDA Margin % | - | - | -11319.94% | 3408.94% | -2337.41% | 10.91% | -4850.46% | -834.88% | -2416.74% |
| EBITDA Growth % | 96.42% | 26.46% | -39.25% | 82.28% | -1322.44% | 111.57% | -224.08% | -64.92% | - |
| D&A (Non-Cash Add-back) | 122.37K | 1.91M | 3.37M | 1.42M | 13.78M | 12.74M | 9.83M | 6.74M | 1.63M |
| EBIT | -13.48M | -375.36M | -347.62M | -2B | -2.07B | 155.57M | -207.09M | -438.64M | -280.95M |
| Net Interest Income | 1.09M | 54.64M | 7.2M | 4.95M | 21.33M | 3.56M | 3.94M | -1.03M | -732.92K |
| Interest Income | 1.09M | 54.64M | 7.3M | 4.95M | 21.33M | 3.71M | 4.37M | 668.26K | 131.42K |
| Interest Expense | 0 | 0 | 101.85K | 0 | 0 | 146.48K | 427.48K | 1.7M | 864.34K |
| Other Income/Expense | 847.61K | 12.63M | -954.53M | -607.09M | -260.73M | 327.58M | 13.02M | 38.99M | -16.85M |
| Pretax Income | -12.63M | -362.73M | -1.47B | -973.17M | -2.33B | 483.15M | -1.45B | -416.76M | -290.74M |
| Pretax Margin % | - | - | -32674.02% | 9097.35% | -2649.26% | 31.32% | -4839.83% | -774.91% | -2580.82% |
| Income Tax | 0 | 0 | -1.26B | 710.39K | -494.81K | 12.23M | 0 | 1.72M | 0 |
| Effective Tax Rate % | 0% | 0% | 85.89% | -0.07% | 0.02% | 2.53% | 0% | -0.41% | 0% |
| Net Income | -6.61M | -162.26M | -1.47B | -2.51B | -2.33B | 470.92M | -1.45B | -402.83M | -298.24M |
| Net Margin % | - | - | -32674.02% | 23438.9% | -2648.7% | 30.53% | -4826.77% | -749.02% | -2647.41% |
| Net Income Growth % | 95.92% | 88.93% | 41.54% | -7.54% | -595.11% | 132.52% | -259.46% | -35.07% | - |
| Net Income (Continuing) | -12.63M | -362.73M | -206.77M | -973.88M | -2.33B | 470.92M | -207.52M | -402.83M | -290.74M |
| Discontinued Operations | 0 | 200.47M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 305.71M |
| EPS (Diluted) | -0.16 | -4.46 | -17.62 | -30.38 | -30.68 | 6.90 | -25.53 | -6.92 | -5.13 |
| EPS Growth % | 96.41% | 74.69% | 42% | 0.98% | -544.64% | 127.03% | -268.93% | -34.89% | - |
| EPS (Basic) | -0.16 | -4.46 | -17.62 | -30.38 | -30.70 | 8.07 | -25.53 | -6.92 | -5.13 |
| Diluted Shares Outstanding | 41.64M | 81.19M | 83.23M | 82.52M | 75.96M | 68.36M | 58.17M | 58.17M | 58.17M |
| Basic Shares Outstanding | 41.64M | 81.19M | 83.19M | 82.52M | 75.93M | 68.25M | 58.17M | 58.17M | 58.17M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
Critical Liquidity and Dilution
As indicated by the company's recent financial filings, NovaBridge Biosciences has recorded zero revenue for six consecutive quarters, underscoring its status as a pre-commercial entity reliant entirely on sporadic milestone payments rather than a sustainable, recurring commercial revenue stream to support its ongoing clinical development activities.
The lack of top-line growth highlights the company's dependence on external partnerships for capital, which creates significant volatility in its financial profile. Investors should interpret this trajectory as a series of binary clinical outcomes rather than a traditional growth story, as future revenue remains entirely contingent upon successful regulatory milestones.
Based on the provided income statement data, R&D expenditures have fluctuated significantly, reaching a low of $777,000 in 2025Q1 before rebounding to $8 million by 2025Q4, suggesting that the company's cost structure is highly sensitive to the timing of specific clinical trial phases and program milestones.
The erratic nature of these expenses implies that management is likely modulating trial activity to preserve cash, which may introduce risks to clinical timelines. This lack of consistent investment discipline warrants further investigation into whether the current spending levels are sufficient to maintain the competitive pace required for their bispecific antibody platform.
According to the quarterly income statements, stock-based compensation has remained a persistent and material component of the company's expense structure, with $3.9 million recorded in 2025Q4 alone, which significantly exacerbates the net losses reported during periods of otherwise limited operational activity and minimal cash reserves.
The reliance on equity-based incentives in a pre-revenue environment suggests a strategy to conserve cash, yet it simultaneously creates a persistent overhang of potential dilution for existing shareholders. Analysts should monitor the ratio of SBC to total operating expenses, as it appears to be a primary driver of the company's ongoing negative earnings quality.
With reported cash and equivalents of only $30.1 million, the company faces a precarious financial position, as evidenced by the recent quarterly burn rates that suggest the current capital cushion may be insufficient to sustain multiple clinical programs through the next twelve months of operations.
This limited runway implies that a dilutive capital raise or a desperate asset divestiture may be imminent, which could severely impair shareholder value. The market appears to be pricing in this liquidity risk, and any further delay in clinical data readouts could exacerbate the company's vulnerability to external financing conditions.
Quick answers to the most common questions about buying NBP stock.
For fiscal year 2025, NovaBridge Biosciences (NBP) reported total revenue of $0.0M. This represents a 100.0% decline compared to $11.3M in 2017.
NovaBridge Biosciences (NBP) reported a net loss of $6.6M for the fiscal year ending 2025.