Puma Biotechnology(US:PBYI)2025-11-06 21:16Financial Performance - Product revenue, net for Q3 2025 was $51.9 million, a decrease of 7.5% from $56.1 million in Q3 2024[2] - Total revenue for Q3 2025 was $54.5 million, down from $80.5 million in Q3 2024, primarily due to a decrease in royalty revenue from $24.4 million to $2.6 million[7] - Net income for Q3 2025 was $8.8 million, or $0.18 per basic share, compared to $20.3 million, or $0.41 per basic share in Q3 2024, representing a decline of 56.7%[3] - Non-GAAP adjusted net income for Q3 2025 was $10.5 million, down from $22.4 million in Q3 2024, reflecting a decrease of 53.3%[4] - Total revenue for the nine months ended September 30, 2025, was $152.9 million, down 10.7% from $171.4 million in the same period of 2024[29] - Net income for Q3 2025 was $8.8 million, a decrease of 56.7% compared to $20.3 million in Q3 2024[29] - Non-GAAP adjusted net income for Q3 2025 was $10.5 million, compared to $22.4 million in Q3 2024[34] Expenses and Costs - Operating costs and expenses for Q3 2025 were $44.9 million, a reduction from $58.4 million in Q3 2024, indicating a decrease of 23.1%[9] - Research and development expenses increased to $15.9 million in Q3 2025 from $12.5 million in Q3 2024, marking a rise of 27.2%[12] - Research and development expenses for Q3 2025 were $15.9 million, an increase of 27.2% from $12.5 million in Q3 2024[29] Cash and Liquidity - Cash, cash equivalents, and marketable securities totaled $94.4 million as of September 30, 2025, down from $101.0 million at the end of 2024[5] - Cash and cash equivalents as of September 30, 2025, were $53.5 million, down from $69.2 million at the end of 2024[31] - Working capital increased to $60.9 million as of September 30, 2025, compared to $51.5 million at the end of 2024[31] - Cash provided by operating activities for the nine months ended September 30, 2025, was $27.4 million, an increase from $23.3 million in the same period of 2024[31] - The company reported a net decrease in cash and cash equivalents of $15.7 million for the nine months ended September 30, 2025, compared to a decrease of $17.3 million in the same period of 2024[31] Future Projections - The company anticipates total revenue for Q4 2025 to be between $67 million and $70 million, with an updated full-year revenue estimate of $220 million to $223 million[14] - The projected net income for Q4 2025 is expected to be between $9 million and $11 million, with an updated full-year net income estimate of $27 million to $29 million[14] Clinical Development - Puma is focused on advancing clinical trials for alisertib, with key milestones expected in H1 2026 for both breast and lung cancer treatments[6]