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Sep 30, 2024
Puma Biotechnology Q3 2024 Earnings Report
Puma Biotechnology's Q3 2024 financial results were announced, featuring positive net income and operating cash flow.
Key Takeaways
Puma Biotechnology reported a net income of $20.3 million and total revenue of $80.5 million for the third quarter of 2024. The company is also progressing with the clinical development of alisertib.
Product revenue, net was $56.1 million, compared to $51.6 million in the third quarter of 2023.
GAAP net income was $20.3 million, or $0.41 per basic and diluted share, compared to a net income of $5.8 million, or $0.12 per basic and diluted share, for the third quarter of 2023.
Non-GAAP adjusted net income was $22.4 million, or $0.46 per basic share and $0.45 per diluted share, for the third quarter of 2024, compared to $8.3 million, or $0.18 per basic share and $0.17 per diluted share, for the third quarter of 2023.
Net cash provided by operating activities was $11.0 million, compared to $10.7 million in the third quarter of 2023.
Revenue by Segment
Forward Guidance
Puma Biotechnology provided financial outlook for the fourth quarter and full year 2024.
Positive Outlook
- Net Product Revenue: $46–$48 million (Q4 2024)
- Net Product Revenue: $187–$190 million (Full Year 2024)
- Royalty Revenue: $3.5–$5 million (Q4 2024)
- Royalty Revenue: $34–$36 million (Full Year 2024)
- Net Income: $4–$6 million (Q4 2024)
- Net Income: $15–$17 million (Full Year 2024)
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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