Puma Biotechnology reported a net income of $3.4 million for the second quarter of 2020, a significant improvement compared to the net loss of $37.4 million in the same quarter of the previous year. NERLYNX product revenue was $48.8 million, slightly lower than the $53.8 million in Q2 2019. Total revenue for the quarter was $70.6 million, including license and royalty revenue.
Puma Biotechnology reported a net income of $3.4 million for Q2 2020, compared to a net loss of $37.4 million for Q2 2019.
Net NERLYNX product revenue was $48.8 million, a decrease from $53.8 million in the same quarter last year.
Total revenue for Q2 2020 was $70.6 million, including product, license, and royalty revenue.
Non-GAAP adjusted net income was $14.0 million, compared to a non-GAAP adjusted net loss of $22.0 million for the same period in 2019.
Puma Biotechnology anticipates key milestones over the next 12 months, including reporting Phase II data from the SUMMIT trial, additional data from the Phase II CONTROL trial, and data from the Phase II TBCRC-022 trial. They also plan to conduct a pre-NDA meeting with the FDA and receive regulatory decisions for an extended adjuvant HER2-positive early stage breast cancer indication in additional countries.
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