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Dec 31, 2022
Puma Biotechnology Q4 2022 Earnings Report
Puma Biotechnology reported a net loss for Q4 2022, with NERLYNX revenues reaching $53.7 million.
Key Takeaways
Puma Biotechnology reported its Q4 and full year financial results, with Q4 product revenue reaching $53.7 million. The company reported a net loss of $5.6 million for the quarter, influenced by an increase in legal accrual. Key milestones were achieved, including presentations of updated findings from clinical trials.
Product revenue for Q4 2022 was $53.7 million, compared to $51.0 million in Q4 2021.
Net loss for Q4 2022 was $5.6 million, or $0.12 per share, compared to net income of $4.2 million, or $0.10 per share, in Q4 2021.
Non-GAAP adjusted net loss for Q4 2022 was $3.0 million, or $0.07 per share, compared to non-GAAP adjusted net income of $8.4 million, or $0.21 per share, in Q4 2021.
Net cash provided by operating activities for Q4 2022 was $7.7 million, compared to net cash used in operating activities of $5.4 million in Q4 2021.
Revenue by Segment
Forward Guidance
Puma Biotechnology provided financial outlook for the full year 2023 and first quarter 2023. They anticipate net product revenue of $205 - $210 million and royalty revenue of $25 - $30 million for the full year 2023. For the first quarter 2023, they anticipate net product revenue of $43 - $46 million and royalty revenue of $4 - $6 million.
Positive Outlook
- Net Product Revenue $205 - $210 million (Full Year 2023)
- Royalty Revenue $25 - $30 million (Full Year 2023)
- Net Income/(Loss) $20 -$24 million (Full Year 2023)
- Net Product Revenue $43 -$46 million (First Quarter 2023)
- Royalty Revenue $4 - $6 million (First Quarter 2023)
Challenges Ahead
- Net Income/(Loss) $(5) - $(2) million (First Quarter 2023)
- Gross to Net Adjustment 19% - 20% (Full Year 2023)
- Gross to Net Adjustment 21% - 21.5% (First Quarter 2023)
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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