Royalty Pharma Acquires Royalty Interest in Nuvalent’s Neladalkib and Zidesamtinib for Up to $315 Million

Rhea-AI Summary

Royalty Pharma (Nasdaq: RPRX) acquired a pre-existing royalty interest in Nuvalent’s neladalkib and zidesamtinib from a third party for up to $315 million.

Both are next-generation TKIs for ALK and ROS1 mutation-positive NSCLC. Neladalkib reported positive pivotal results in November 2025 and is in a Phase 3 study in TKI-naïve patients. Zidesamtinib is under U.S. FDA review with an action date of September 18, 2026 and is in Phase 1/2 for TKI-naïve patients.

Royalty Pharma acquired a low-single-digit royalty on worldwide net sales, with expected royalty duration through approximately 2041–2042. Existing analyst consensus projects peak sales of about $3.5B for neladalkib and $1.9B for zidesamtinib by 2035.

Positive

• Acquisition secures royalty interest for up to $315 million
• Royalties cover worldwide net sales through ~2041–2042
• Neladalkib reported positive pivotal results in November 2025
• Analyst consensus projects combined peak sales of $5.4B by 2035

Negative

• Royalty rate is low-single-digit, limiting upside per dollar sales
• Upfront and contingent payments of up to $315M create cash outflow
• Zidesamtinib depends on FDA action by September 18, 2026, a timing risk

News Market Reaction

-0.39%

1 alert

-0.39% News Effect

On the day this news was published, RPRX declined 0.39%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Nuvalent royalty payment: up to $315 million Zidesamtinib FDA action date: September 18, 2026 Royalty duration: through approximately 2041–2042 +5 more

8 metrics

Nuvalent royalty payment up to $315 million Purchase price for pre-existing royalties on neladalkib and zidesamtinib

Zidesamtinib FDA action date September 18, 2026 U.S. Food and Drug Administration review timeline for TKI pre-treated patients

Royalty duration through approximately 2041–2042 Expected royalty period on worldwide net sales for both therapies

Neladalkib 2035 sales consensus approximately $3.5 billion Existing analyst projections for neladalkib sales by 2035

Zidesamtinib 2035 sales consensus approximately $1.9 billion Existing analyst projections for zidesamtinib sales by 2035

Neladalkib trial stage Phase 3 Ongoing study in TKI-naïve NSCLC patients

Zidesamtinib trial stage Phase 1/2 Ongoing study in TKI-naïve NSCLC patients

Neladalkib pivotal results durable activity, well-tolerated Positive pivotal data in TKI pre-treated patients reported November 2025

Market Reality Check

Price: $45.19 Vol: Volume 4,631,457 is 1.04x...

normal vol

$45.19 Last Close

Volume Volume 4,631,457 is 1.04x the 20-day average of 4,432,936 shares. normal

Technical Price 38.53 is trading above the 200-day MA of 35.38, near the -6.57% mark versus the 52-week high.

Peers on Argus

RPRX was up 0.36% while close peers were mixed: INCY +2.47%, BNTX -0.81%, GMAB -...

RPRX was up 0.36% while close peers were mixed: INCY +2.47%, BNTX -0.81%, GMAB -0.54%, SMMT -1.81%, INSM -0.16%. Moves do not indicate a unified sector trend.

Historical Context

5 past events · Latest: Dec 04 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 04	Royalty funding deal	Positive	-1.1%	Synthetic royalty funding agreement with Denali tied to tividenofusp sales.
Nov 26	Investor conferences	Neutral	+0.8%	Scheduled presentations at Citi and Evercore healthcare investor conferences.
Nov 05	Q3 2025 earnings	Positive	+6.8%	Q3 growth in Portfolio Receipts and raised full‑year 2025 guidance.
Nov 04	AMVUTTRA royalty buy	Positive	+1.4%	Acquisition of 1% royalty on AMVUTTRA worldwide net sales for $310M.
Oct 17	Dividend declaration	Positive	+1.8%	Announced $0.22 Q4 2025 dividend with defined record and pay dates.

Pattern Detected

Recent corporate and acquisition news has generally seen share price gains, with only one notable divergence on a funding deal.

Recent Company History

Over the last six months, Royalty Pharma has combined capital deployment with corporate restructuring and shareholder returns. The company announced a $275M synthetic royalty deal with Denali on Dec 4, 2025 and a $310M AMVUTTRA royalty acquisition on Nov 4, 2025. Q3 2025 results on Nov 5 showed $814M Portfolio Receipts and raised 2025 guidance, which drew a strong positive reaction. A $0.22 Q4 2025 dividend on Oct 17 and conference participation also supported a constructive backdrop for today’s Nuvalent royalty acquisition.

Market Pulse Summary

This announcement adds another oncology-focused royalty asset to Royalty Pharma’s portfolio through ...

Analysis

This announcement adds another oncology-focused royalty asset to Royalty Pharma’s portfolio through a deal of up to $315 million tied to Nuvalent’s neladalkib and zidesamtinib. Both candidates target NSCLC with encouraging clinical and regulatory momentum, including a September 18, 2026 FDA action date and expected royalty duration into 2041–2042. In the context of recent royalty acquisitions and raised 2025 guidance, investors may watch future sales versus the $3.5B and $1.9B 2035 consensus forecasts.

Key Terms

tyrosine kinase inhibitors, tki, non-small cell lung cancer, phase 3, +3 more

7 terms

tyrosine kinase inhibitors medical

"Neladalkib and zidesamtinib are next-generation tyrosine kinase inhibitors (TKIs)."

Drugs that block specific enzymes called tyrosine kinases, which act like on/off switches in cells and help control growth and division; by turning those switches off, these medicines can slow or stop the growth of cancers and some non-cancer conditions. They matter to investors because clinical trial outcomes, regulatory approvals, patent protection and competition determine sales potential and risk—think of them as targeted tools whose success can sharply change a drugmaker’s future revenue.

tki medical

"In November 2025, Nuvalent reported positive pivotal results for neladalkib in TKI pre-treated patients"

A TKI (tyrosine kinase inhibitor) is a type of drug that blocks specific enzymes cells use to send growth signals, effectively slowing or stopping the proliferation of certain cancer and disease cells. For investors, TKIs matter because they are often central to a biotech company's product pipeline and revenue potential: successful TKIs can win regulatory approval, command premium pricing, and shift competitive dynamics in treatment markets, much like a key component that can make or break a new technology's commercial success.

non-small cell lung cancer medical

"neladalkib is in development for patients with ALK mutation-positive non-small cell lung cancer (NSCLC)"

A broad category of lung tumors that grow from the cells lining the airways and make up the majority of lung cancer cases; it includes several subtypes that behave and respond to treatment differently, like different models of the same car family. It matters to investors because its large patient population and variety of treatment options — surgery, traditional chemo, targeted drugs and immunotherapies — create major markets where clinical trial results, drug approvals or changing treatment guidelines can quickly affect a company’s revenue and stock value.

phase 3 medical

"Neladalkib is also being evaluated in an ongoing Phase 3 study in TKI-naïve patients."

Phase 3 is the late-stage clinical testing step for a new drug or medical treatment, where the product is given to large groups of patients to confirm effectiveness, monitor side effects, and compare it to standard care. Successful Phase 3 results are often the final scientific hurdle before regulators decide on approval and market launch—like passing a final exam before graduation—and can sharply change a company's valuation and future revenue prospects.

phase 1/2 medical

"Zidesamtinib is also being assessed in an ongoing Phase 1/2 study in TKI-naïve patients."

Phase 1/2 is a combined early-stage clinical trial that first tests a new drug or treatment for safety and the right dose, then quickly expands to check if it shows any signs of working in patients. For investors, results from a Phase 1/2 study offer an early read on both risk and potential reward—like a prototype test that both confirms a product won’t harm users and suggests whether it could sell—helping guide valuation and development decisions.

u.s. food and drug administration regulatory

"Zidesamtinib is currently undergoing review by the U.S. Food and Drug Administration"

The U.S. Food and Drug Administration is the federal agency that evaluates and enforces safety, effectiveness and labeling standards for medicines, medical devices, vaccines, food and related products before they reach consumers. For investors it matters because FDA approvals, warnings or recalls determine whether a product can be sold, how quickly it reaches the market and how costly compliance will be—changes that directly affect a company’s revenue, costs and stock value.

royalty interest financial

"it has acquired a pre-existing royalty interest in Nuvalent’s neladalkib and zidesamtinib"

A royalty interest is a contractual right to receive a portion of revenue or production from an asset—such as a mine, oil well, patent, or drug—without owning or operating the underlying business. Investors value royalties because they provide a form of passive, often predictable cash flow that depends on how much the asset produces and the price it commands; think of it as collecting rent on someone else’s income-producing property, with returns tied to output and market prices.

AI-generated analysis. Not financial advice.

NEW YORK, Dec. 16, 2025 (GLOBE NEWSWIRE) -- Royalty Pharma plc (Nasdaq: RPRX) today announced that it has acquired a pre-existing royalty interest in Nuvalent’s neladalkib and zidesamtinib from an undisclosed third party for up to $315 million.

Neladalkib and zidesamtinib are next-generation tyrosine kinase inhibitors (TKIs). Neladalkib is in development for patients with ALK mutation-positive non-small cell lung cancer (NSCLC) and zidesamtinib is in development for ROS1 mutation-positive NSCLC. Both therapies are designed to deliver a best-in-class combination of efficacy and tolerability.

In November 2025, Nuvalent reported positive pivotal results for neladalkib in TKI pre-treated patients which demonstrated durable activity and a generally well-tolerated safety profile. Neladalkib is also being evaluated in an ongoing Phase 3 study in TKI-naïve patients. Zidesamtinib is currently undergoing review by the U.S. Food and Drug Administration and has an action date of September 18, 2026 for TKI pre-treated patients. Zidesamtinib is also being assessed in an ongoing Phase 1/2 study in TKI-naïve patients. Existing analyst consensus projects neladalkib sales to be approximately $3.5 billion and zidesamtinib sales to be approximately $1.9 billion by 2035.

Transaction Terms

Royalty Pharma is acquiring a low-single digit pre-existing royalty on worldwide net sales on each of Nuvalent’s neladalkib and zidesamtinib from an undisclosed third party for up to $315 million. The expected royalty duration for both therapies extends through approximately 2041 to 2042.

Advisors

Covington & Burling, Dechert and Maiwald acted as legal advisors to Royalty Pharma.

About Royalty Pharma

Founded in 1996, Royalty Pharma is the largest buyer of biopharmaceutical royalties and a leading funder of innovation across the biopharmaceutical industry, collaborating with innovators from academic institutions, research hospitals and non-profits through small and mid-cap biotechnology companies to leading global pharmaceutical companies. Royalty Pharma has assembled a portfolio of royalties which entitles it to payments based directly on the top-line sales of many of the industry’s leading therapies. Royalty Pharma funds innovation in the biopharmaceutical industry both directly and indirectly – directly when it partners with companies to co-fund late-stage clinical trials and new product launches in exchange for future royalties, and indirectly when it acquires existing royalties from the original innovators. Royalty Pharma’s current portfolio includes royalties on more than 35 commercial products, including Vertex’s Trikafta and Alyftrek, GSK’s Trelegy, Roche’s Evrysdi, Johnson & Johnson’s Tremfya, Biogen’s Tysabri and Spinraza, Servier’s Voranigo, AbbVie and Johnson & Johnson’s Imbruvica, Astellas and Pfizer’s Xtandi, Pfizer’s Nurtec ODT, and Gilead’s Trodelvy, and 20 development-stage product candidates.

Royalty Pharma Forward-Looking Statements

The information set forth herein does not purport to be complete or to contain all of the information you may desire. Statements contained herein are made as of the date of this document unless stated otherwise, and neither the delivery of this document at any time, nor any sale of securities, shall under any circumstances create an implication that the information contained herein is correct as of any time after such date or that information will be updated or revised to reflect information that subsequently becomes available or changes occurring after the date hereof. This document contains statements that constitute “forward-looking statements” as that term is defined in the United States Private Securities Litigation Reform Act of 1995, including statements that express the company’s opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results, in contrast with statements that reflect historical facts. Examples include discussion of Royalty Pharma’s strategies, financing plans, growth opportunities, market growth, and plans for capital deployment. In some cases, you can identify such forward-looking statements by terminology such as “may,” “might,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “target,” “forecast,” “guidance,” “goal,” “predicts,” “project,” “potential” or “continue,” the negative of these terms or similar expressions. Forward-looking statements are based on management’s current beliefs and assumptions and on information currently available to the company. However, these forward-looking statements are not a guarantee of Royalty Pharma’s performance, and you should not place undue reliance on such statements. Forward-looking statements are subject to many risks, uncertainties and other variable circumstances, and other factors. Such risks and uncertainties may cause the statements to be inaccurate and readers are cautioned not to place undue reliance on such statements. Many of these risks are outside of Royalty Pharma’s control and could cause its actual results to differ materially from those it thought would occur. The forward-looking statements included in this document are made only as of the date hereof. Royalty Pharma does not undertake, and specifically declines, any obligation to update any such statements or to publicly announce the results of any revisions to any such statements to reflect future events or developments, except as required by law. For further information, please reference Royalty Pharma’s reports and documents filed with the U.S. Securities and Exchange Commission (“SEC”) by visiting EDGAR on the SEC’s website at www.sec.gov.

Royalty Pharma Investor Relations and Communications
+1 (212) 883-6637
ir@royaltypharma.com

FAQ

What did Royalty Pharma announce about neladalkib and zidesamtinib (RPRX) on December 16, 2025?

Royalty Pharma announced it acquired a pre-existing royalty interest in both assets for up to $315 million.

How large is the royalty interest Royalty Pharma bought for RPRX?

Royalty Pharma acquired a low-single-digit royalty on worldwide net sales for each therapy.

What is the expected duration of the royalty payments for RPRX's purchase?

The expected royalty duration extends through approximately 2041 to 2042.

What clinical milestones support the RPRX royalty purchase for neladalkib?

Neladalkib reported positive pivotal results in November 2025 and is in an ongoing Phase 3 study.

When is the FDA action date for zidesamtinib relevant to RPRX investors?

Zidesamtinib has a U.S. FDA action date of September 18, 2026 for TKI pre-treated patients.

What peak sales do analysts expect for neladalkib and zidesamtinib by 2035?

Existing analyst consensus projects about $3.5B for neladalkib and $1.9B for zidesamtinib by 2035.