Puma Biotechnology(PBYI) - 2024 Q3 - Quarterly Results

Revenue Performance - Total revenue for Q3 2024 was $80.5 million, compared to$56.1 million in Q3 2023, representing a 43.5% increase[8]. - Total revenue for Q3 2024 was $80.5 million, a 43.4$56.1 million in Q3 2023[27]. - Product revenue, net for Q3 2024 was $56.1 million, a 8.7$51.6 million in Q3 2023[3]. - Product revenue for Q3 2024 reached $56.1 million, up from$51.6 million in Q3 2023, representing a 8.7% growth[27]. - Royalty revenue surged to $24.4 million in Q3 2024, compared to$4.5 million in Q3 2023, marking a significant increase of 442.2%[27]. Net Income and Earnings - Net income for Q3 2024 was $20.3 million, or$0.41 per share, compared to $5.8 million, or$0.12 per share in Q3 2023, marking a 249.1% increase in net income[4]. - Net income for Q3 2024 was $20.3 million, a substantial rise from$5.8 million in Q3 2023, reflecting a 249.1% increase[27]. - Basic net income per share for Q3 2024 was $0.41, compared to$0.12 in Q3 2023, indicating a 241.7% increase[27]. - Non-GAAP adjusted net income for Q3 2024 was $22.4 million, or$0.46 per share, compared to $8.3 million, or$0.18 per share in Q3 2023, reflecting a 170.1% increase[5]. - Non-GAAP adjusted net income for Q3 2024 was $22.4 million, significantly higher than$8.3 million in Q3 2023[29]. Operating Costs and Expenses - Operating costs and expenses for Q3 2024 were $58.4 million, up from$47.5 million in Q3 2023, indicating an increase of 22.8%[9]. - Research and development expenses for Q3 2024 were $12.5 million, compared to$11.4 million in Q3 2023, a year-over-year increase of 9.6%[12]. - Total other expenses for Q3 2024 were $1.5 million, down from$2.6 million in Q3 2023, reflecting a decrease of 42.3%[13]. Cash and Financial Position - Cash, cash equivalents, and marketable securities as of September 30, 2024, were approximately $97 million, slightly up from$96 million at the end of 2023[6]. - Cash and cash equivalents as of September 30, 2024, were $67.3 million, down from$84.6 million at the end of 2023[28]. - Long-term debt decreased to $32.7 million as of September 30, 2024, from$65.7 million at the end of 2023[28]. - Stockholders' equity increased to $71.1 million as of September 30, 2024, compared to$53.4 million at the end of 2023[28]. - Cash provided by operating activities for the nine months ended September 30, 2024, was $23.3 million, compared to$16.6 million for the same period in 2023[28]. Future Guidance and Development - The company anticipates Q4 2024 net product revenue between $46 million and$48 million, and full-year 2024 net income guidance revised to $15 million to$17 million[14]. - The company is progressing with clinical development of alisertib, with key milestones expected in the next 12 months, including the initiation of a Phase II trial in Q4 2024[7].