PBYI's Q2 Earnings Beat Estimates, Nerlynx Sales Drive Revenues

Core Insights - Puma Biotechnology (PBYI) reported second-quarter 2025 adjusted earnings of 15 cents per share, surpassing the Zacks Consensus Estimate of 11 cents, and reversing the adjusted loss of 5 cents per share from the previous year [1][5] - Total revenues for the second quarter reached $52.4 million, exceeding the Zacks Consensus Estimate of $50 million, and reflecting an 11.2% year-over-year increase driven by higher product revenues [2][5] - The company maintained its 2025 revenue outlook of $212 million to $222 million, with Nerlynx sales expected to be between $192 million and $198 million [8] Financial Performance - Product revenues from Nerlynx amounted to $49.2 million in Q2, representing a 10.8% year-over-year increase and aligning with management's guidance [3][5] - Royalty revenues increased by approximately 18.5% year-over-year to $3.2 million, surpassing both model estimates and the guided range [6] - Total operating costs for the quarter were $45.8 million, down 7.1% year-over-year, with selling, general and administrative expenses declining 28% to $18 million [6] Future Guidance - For Q3 2025, total revenues are projected to be between $48 million and $51 million, with Nerlynx product sales expected in the range of $46 million to $48 million [9] - Royalty revenues for Q3 are anticipated to be between $2 million and $3 million, with net income expected to range from $2 million to $4 million [9] Pipeline Developments - Puma Biotechnology is developing alisertib, an aurora kinase A inhibitor, for hormone receptor-positive breast cancer and small-cell lung cancer (SCLC), having in-licensed the rights from Takeda in 2022 [10] - The company is conducting a phase II study (ALISCA-Lung1) for alisertib as a monotherapy in extensive-stage SCLC, with interim data expected in Q4 2025 [11] - Additionally, a phase II study (ALISCA-Breast1) is underway for alisertib in combination with endocrine treatment for chemotherapy-naïve HER2-negative, hormone receptor-positive metastatic breast cancer, with initial data also expected in Q4 2025 [12]