Puma Biotechnology(US:PBYI)2025-05-08 20:20Financial Performance - Product revenue for Q1 2025 was $43.1 million, a 6.9% increase from $40.3 million in Q1 2024[3] - Net income for Q1 2025 was $3.0 million, compared to a net loss of $4.8 million in Q1 2024, marking a significant turnaround[4] - Non-GAAP adjusted net income for Q1 2025 was $5.0 million, compared to a non-GAAP adjusted net loss of $2.4 million in Q1 2024[5] - Total revenue for Q1 2025 was $46.0 million, compared to $43.8 million in Q1 2024, reflecting a 5.0% increase[8] - Basic and diluted net income per share for Q1 2025 was $0.06, compared to a loss of $0.10 per share in Q1 2024[29] - Non-GAAP adjusted basic net income per share for Q1 2025 was $0.10, compared to a loss of $0.05 per share in Q1 2024[34] Operating Costs - Total operating costs and expenses decreased to $42.0 million in Q1 2025 from $46.1 million in Q1 2024, a reduction of 8.9%[9] - Selling, general and administrative expenses decreased by $4.2 million to $17.6 million in Q1 2025, primarily due to lower professional fees[11] - Research and development expenses slightly increased to $13.8 million in Q1 2025 from $13.6 million in Q1 2024[13] - Stock-based compensation represented approximately 6.4% of operating expenses in Q1 2025, slightly down from 6.7% in Q1 2024[32] Cash and Liquidity - Cash, cash equivalents, and marketable securities totaled $93.2 million as of March 31, 2025, down from $101.0 million at the end of 2024[6] - Cash and cash equivalents as of March 31, 2025, were $63.0 million, down from $69.2 million as of December 31, 2024[31] - The company reported a net decrease in cash, cash equivalents, and restricted cash of $6.2 million for the three months ended March 31, 2025[31] Future Outlook - The company anticipates net product revenue for Q2 2025 to be between $48 million and $50 million, and for the full year 2025 to be between $192 million and $198 million[15] - Key upcoming milestones include interim data presentations from ongoing clinical trials in H2 2025[7]