<SEC-DOCUMENT>0001415889-24-006286.txt : 20240304
<SEC-HEADER>0001415889-24-006286.hdr.sgml : 20240304
<ACCEPTANCE-DATETIME>20240304162728
ACCESSION NUMBER:		0001415889-24-006286
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20240229
FILED AS OF DATE:		20240304
DATE AS OF CHANGE:		20240304

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Liu Dongfang
		CENTRAL INDEX KEY:			0001937915
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39351
		FILM NUMBER:		24715283

	MAIL ADDRESS:	
		STREET 1:		C/O NUVATION BIO INC.
		STREET 2:		1500 BROADWAY, SUITE 401
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036

	FORMER NAME:	
		FORMER CONFORMED NAME:	Liu Donfang
		DATE OF NAME CHANGE:	20220713

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Nuvation Bio Inc.
		CENTRAL INDEX KEY:			0001811063
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		IRS NUMBER:				850862255
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		357 TEHAMA STREET, FLOOR 3
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94103
		BUSINESS PHONE:		(415) 754-3517

	MAIL ADDRESS:	
		STREET 1:		357 TEHAMA STREET, FLOOR 3
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Panacea Acquisition Corp
		DATE OF NAME CHANGE:	20200430
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4-03042024_090323.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2024-02-29</periodOfReport>

    <issuer>
        <issuerCik>0001811063</issuerCik>
        <issuerName>Nuvation Bio Inc.</issuerName>
        <issuerTradingSymbol>NUVB</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001937915</rptOwnerCik>
            <rptOwnerName>Liu Dongfang</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O NUVATION BIO INC.</rptOwnerStreet1>
            <rptOwnerStreet2>1500 BROADWAY, SUITE 401</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10036</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>false</isDirector>
            <isOfficer>true</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>false</isOther>
            <officerTitle>CHIEF MEDICAL OFFICER</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Class A Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>6000</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value></value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>1.87</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2024-02-29</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>500000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <value>2034-02-27</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>500000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>500000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value></value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Includes 3,000 shares acquired on May 19, 2023 and 3,000 shares acquired on November 17, 2023 under the Issuer's 2021 Employee Stock Purchase Plan.</footnote>
        <footnote id="F2">Option vests as to 25% on the one year anniversary of 2/29/2024, and monthly thereafter over the following 36 months, subject to Reporting Person's continuous service on each such vesting date.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Ron A. Metzger, Attorney-in-Fact</signatureName>
        <signatureDate>2024-03-04</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
