NUVL · CIK 1861560
What Nuvalent, Inc. told the SEC could break it.
2 self-disclosed vulnerabilities, pulled from its own filings, each in the company’s words, with the source. This is the risk register almost nobody reads.
A limited set so far, we surface every cited disclosure we’ve extracted for NUVL. More may follow as additional filings are processed.
In its own words
What could break it.
Liquidity & debt
- Pre-revenue capital dependencemedium
No approved products or product revenue; net losses were $425.4M in 2025 against a $972.4M accumulated deficit, so the company depends on continued capital raises to fund development (mitigated for now by ~$1.4B in cash and a $471.8M November 2025 equity raise).
“Our net losses were $425.4 million, $260.8 million and $126.2 million for the years ended December 31, 2025, 2024 and 2023, respectively. As of December 31, 2025, we had an accumulated deficit of $972.4 million.”
SEC filing →As of 2026
Regulatory & policy
- BIOSECURE Act / US-China trade targeting WuXilow
Nuvalent imports product candidates/materials from China under manufacturing arrangements with WuXi (WuXi AppTec/WuXi Biologics); a December 2025 law restricts U.S. federal agencies from procuring biotech services from designated Chinese 'biotechnology companies of concern,' and escalating US-China trade tensions, tariffs and export controls could disrupt that supply and raise costs.
“In December 2025, Congress enacted a law, which, subject to certain grandfather provisions, will restrict U.S. federal agencies from procuring or obtaining "biotechnology equipment or services" from certain Chinese companies designated as "biotechnology companies of concern."”
The hidden graph
Who it depends on, and who depends on it.
Relationships surfaced from filings, including ones disclosed by the other side, which is how the non-obvious ones come to light.
Its suppliers
WuXi AppTec, Inc.
“particularly with respect to any product candidates and materials that we import from China, including pursuant to our manufacturing service arrangements with WuXi.”
Cited →
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