Puma Biotechnology Q4 Earnings Call Highlights

During the question-and-answer session, management addressed the quarter-end inventory build. Auerbach said Puma tends to see inventory building in the fourth quarter “since launch,” and attributed much of the pattern to channel purchasing ahead of an assumed price increase at the start of the year. Chief Financial Officer Maximo Nougues added that Puma typically expects that inventory to burn off in the first quarter, which is one reason management described Q1 as “usually the lowest quarter of the year” f ...