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Jun 30, 2021
Puma Biotechnology Q2 2021 Earnings Report
Puma Biotechnology's financial results for Q2 2021 were announced, showing a slight increase in NERLYNX revenue and a net loss compared to net income in Q2 2020.
Key Takeaways
Puma Biotechnology reported a slight increase in net NERLYNX revenue to $48.9 million in Q2 2021 from $48.8 million in Q2 2020. The company reported a net loss of $5.1 million, or $0.13 per share, compared to a net income of $3.4 million, or $0.09 per share, for the same period in the previous year. Non-GAAP adjusted net income was $13.1 million, or $0.32 per share, compared to $14.0 million, or $0.36 per share, for the second quarter of 2020. Cash, cash equivalents and marketable securities totaled $108.9 million as of June 30, 2021.
Net NERLYNX revenue for Q2 2021 was $48.9 million, a slight increase from $48.8 million in Q2 2020.
Puma reported a net loss of $5.1 million, or $0.13 per share, for Q2 2021, compared to a net income of $3.4 million, or $0.09 per share, for Q2 2020.
Non-GAAP adjusted net income for Q2 2021 was $13.1 million, or $0.32 per share, compared to $14.0 million, or $0.36 per share, for Q2 2020.
Cash, cash equivalents and marketable securities totaled $108.9 million as of June 30, 2021, compared to $93.4 million at December 31, 2020.
Revenue by Segment
Forward Guidance
Puma Biotechnology anticipates several key milestones over the next 12 months.
Positive Outlook
- Reporting top line data from the randomized cohort of the Phase II SUMMIT trial of neratinib in hormone receptor positive breast cancer that has a HER2 mutation (Q4 2021).
- Conducting a pre-NDA meeting with the FDA to discuss accelerated approval of neratinib in HER2-mutated hormone receptor positive breast cancer (Q4 2021).
- Reporting data from the Phase II TBCRC-022 trial of the combination of Kadcyla® plus neratinib in patients with HER2-positive breast cancer with brain metastases who have previously been treated with Kadcyla (H2-2021/H1 2022).
- Reporting Phase II data from the SUMMIT trial of neratinib in non-small cell lung cancer patients with EGFR exon 18 mutations (H1-2022).
- Conducting a meeting with the FDA to discuss the potential for an accelerated approval pathway for neratinib in non-small cell lung cancer patients with EGFR exon 18 mutations who have previously been treated with an EGFR tyrosine kinase inhibitor (2022).
Historical Earnings Impact
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Avg. Return Before/After Earnings
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