Puma Biotechnology, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 02, 2023 at 04:05 pm EDT
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Puma Biotechnology, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 56.1 million compared to USD 57.1 million a year ago. Net income was USD 5.8 million compared to net loss of USD 0.4 million a year ago. Basic earnings per share from continuing operations was USD 0.12 compared to basic loss per share from continuing operations of USD 0.01 a year ago. Diluted earnings per share from continuing operations was USD 0.12 compared to diluted loss per share from continuing operations of USD 0.01 a year ago.
For the nine months, revenue was USD 163.5 million compared to USD 162.4 million a year ago. Net income was USD 9.3 million compared to USD 5.6 million a year ago. Basic earnings per share from continuing operations was USD 0.2 compared to USD 0.13 a year ago. Diluted earnings per share from continuing operations was USD 0.2 compared to USD 0.13 a year ago.
Puma Biotechnology, Inc. is a biopharmaceutical company. The Company is focused on the development and commercialization of products to enhance cancer care. The Company's lead product is NERLYNX, an oral version of neratinib, for the treatment of HER2-positive breast cancer. Neratinib is a potent irreversible tyrosine kinase inhibitor (TKI) that blocks signal transduction through the epidermal growth factor receptors, HER1, HER2 and HER4 It also engaged in the development and commercialization of, alisertib. Alisertib is a selective, small molecule inhibitor of aurora kinase A that is designed to disrupt mitosis leading to apoptosis of rapidly proliferating tumor cells that are dependent on aurora kinase A. Its neratinib has clinical application in the treatment of several other cancers as well, including other tumor types that over-express or have a mutation in HER2 or epidermal growth factor receptor (EGFR), such as breast cancer, cervical cancer, lung cancer, or other solid tumors.