Puma (PBYI) Q2 Revenue Rises 11%

Core Insights - Puma Biotechnology reported a return to profitability in Q2 2025, with non-GAAP EPS of $0.15 and GAAP revenue of $52.4 million, exceeding estimates [1][2] - The company reiterated its full-year guidance, projecting total GAAP revenue between $212 million and $222 million and net income of $23 million to $28 million [1][13] Financial Performance - Non-GAAP EPS was $0.15, surpassing the estimate of $0.09, and up from a loss of $0.05 in Q2 2024 [2][7] - GAAP revenue reached $52.4 million, an increase of 11.3% from $47.1 million in Q2 2024 [2][7] - Net product revenue from NERLYNX was $49.2 million, up 10.8% from $44.4 million in Q2 2024 [2][5] - Royalty revenue increased by 18.5% to $3.2 million compared to $2.7 million in Q2 2024 [2][6] - GAAP net income was $5.9 million, a turnaround from a loss of $4.5 million in Q2 2024 [2][7] Business Strategy - Puma focuses on developing and commercializing cancer therapies, particularly NERLYNX for HER2-positive breast cancer [3][4] - The company emphasizes market penetration, global partnerships, and patient education to drive NERLYNX sales [4][9] - Ongoing clinical programs for alisertib are part of Puma's strategy for future growth [4][10] Operational Highlights - The company achieved a 28% reduction in SG&A costs to $18.0 million, primarily due to lower legal expenses [7][8] - R&D expenses increased by 14% to $15.5 million, reflecting investments in alisertib trials [7][11] - Cash and equivalents totaled $96.0 million, with a reduction in debt to $34.0 million [8] Outlook - Management expects total revenue for Q3 2025 to be between $48 million and $51 million, with net income projected at $2 million to $4 million [13][14] - The company aims to diversify revenue sources beyond NERLYNX and is exploring new pipeline assets for potential acquisition [14]