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Puma Biotechnology (PBYI) investor relations material
Puma Biotechnology Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 2025 total revenue was $54.5M, down from $80.5M in Q3 2024, mainly due to lower royalty and international product revenue, while U.S. NERLYNX sales volume rose 8% year-over-year to $51.9M, offsetting declines elsewhere.
Net income for Q3 2025 was $8.8M ($0.18 per basic share), up from $5.9M in Q2 2025 but down from $20.3M in Q3 2024; non-GAAP net income was $10.5M ($0.21 per share).
2,949 ex-factory bottles sold in Q3 2025, up 13% quarter-over-quarter and 8% year-over-year; 77% of patients started at a reduced dose.
Clinical progress continues for alisertib in breast and lung cancer, with interim analyses expected in H1 2026.
International expansion continued with new NERLYNX launches in Thailand, Lebanon, and Libya in 2024–2025.
Financial highlights
Net product revenue for Q3 2025 was $51.9M, down from $56.1M in Q3 2024 but up from $49.2M in Q2 2025; royalty revenue was $2.6M, down from $24.4M in Q3 2024.
Cost of sales for Q3 2025 was $12.2M, including $2.4M in amortization of intangible assets, down from $29.1M in Q3 2024.
SG&A expenses for Q3 2025 were $16.8M, down from $18M in Q2 2025 and flat year-over-year; R&D expenses were $15.9M, up from $12.6M in Q3 2024.
Cash, cash equivalents, and marketable securities totaled $94.4M as of September 30, 2025.
Net cash provided by operating activities for the first nine months of 2025 was $27.4M, up from $23.3M in 2024.
Outlook and guidance
Full-year 2025 revenue guidance raised to $220–$223M, with net product revenue of $198–$200M and royalty revenue of $22–$23M.
Full-year 2025 net income guidance increased to $27–$29M; Q4 2025 net product revenue expected at $54–$56M.
SG&A expenses anticipated to decrease 7–10% in 2025; R&D expenses to rise 20–25% due to faster clinical trial enrollment.
Management believes cash and future sales are sufficient to meet operating needs for at least one year.
Key clinical milestones for alisertib trials expected in H1 2026.
- TimeTickerHeadlineOpen
- 5 FebNOV
Q4 revenue up 5% sequentially; strong cash flow and shareholder returns, but 2026 outlook cautious. - 5 FebGL
Earnings and premium growth drive higher 2026 guidance and continued share repurchases. - 5 FebARES
AUM up 29% to $622.5B, with record fundraising, earnings growth, and a 20% dividend hike. - 5 FebSKEL
NAV per share reached ISK 22.4, profit was ISK 4,297m, and a ISK 6,000m dividend was paid. - 5 FebCRNO
Advancing HDAC inhibitors for rare cardiopulmonary diseases, targeting major market and partnership milestones. - 5 Feb035760
Operating profit doubled YOY in Q4 2025, led by digital and global content growth. - 5 Feb033780
Record revenue, profit, and shareholder returns driven by global expansion and real estate growth. - 5 FebCMS
2025 adjusted EPS up 8%+ to $3.61, beating guidance, with a $24B capital plan and higher 2026 outlook. - 5 FebBTU
Q4 net income fell, but Centurion ramp-up and U.S. demand support future growth. - 5 FebFGA
Record Q3 revenue and strong backlog support positive outlook despite operational risks.
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