NUVL — Nuvalent Inc · catalysts, narrative & risks

Important context: two competing snapshots

Before the specifics, a reliability caveat. The available materials present Nuvalent in two different states, and this must be reconciled carefully:

• One set of sources (official investor relations and financial news) describes Nuvalent as being acquired by GSK plc in a deal reported at roughly $10.6 billion [2], [8], [14].
• Another detailed source describes Nuvalent as an independent clinical-stage company running a "dual NDA strategy" and treating ASCO 2026 as "its most consequential scientific moment to date" [1].