In This Article:
-
Total Revenue: $59.1 million for Q4 2024.
-
Product Revenue Net: $54.4 million for Q4 2024.
-
Royalty Revenue: $4.7 million for Q4 2024.
-
Net Income (GAAP): $19.3 million or $0.39 per share for Q4 2024.
-
Net Income (Non-GAAP): $21.1 million or $0.43 per share for Q4 2024.
-
Gross Revenue from NERLYNX Sales: $66.5 million for Q4 2024.
-
Cost of Sales: $13.9 million for Q4 2024.
-
SG&A Expenses: $16.6 million for Q4 2024.
-
R&D Expenses: $15.2 million for Q4 2024.
-
Cash Burn: Approximately $4.3 million for Q4 2024.
-
Cash, Cash Equivalents, and Marketable Securities: Approximately $101 million as of December 31, 2024.
-
NERLYNX Bottles Sold: 2,964 bottles in Q4 2024.
-
Inventory Increase: Approximately $3.7 million in Q4 2024.
-
Gross to Net Adjustment: 18.2% for Q4 2024.
Release Date: February 27, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
-
Puma Biotechnology Inc (NASDAQ:PBYI) reported total revenue of $59.1 million for Q4 2024, with product revenue net from NERLYNX sales at $54.4 million, showing an increase from Q4 2023.
-
The company saw a 9% increase in NERLYNX ex-factory bottle sales quarter over quarter and a 3% increase year over year.
-
Puma Biotechnology Inc (NASDAQ:PBYI) achieved a net income of $19.3 million for Q4 2024, aided by a non-cash deferred tax income benefit.
-
The company is actively expanding its distribution network, adding BioCare to support community oncologists.
-
Puma Biotechnology Inc (NASDAQ:PBYI) is conducting promising clinical trials, including a Phase I trial with Enhertu and two Phase II trials for alisertib, with interim data expected in 2025.
Negative Points
-
NERLYNX product revenue declined slightly from Q3 2024, with a decrease in product supply revenue to global partners.
-
Royalty revenue dropped significantly in Q4 2024 compared to Q3 2024, primarily due to fewer shipments to China.
-
New prescriptions (NRx) for NERLYNX decreased by 7% quarter over quarter, indicating potential challenges in new patient acquisition.
-
The company anticipates a decrease in royalty revenue for 2025 due to fewer shipments expected to China.
-
Puma Biotechnology Inc (NASDAQ:PBYI) forecasts a potential net loss for Q1 2025, reflecting typical seasonal inventory adjustments and lower expected revenue.
Q & A Highlights
Q: Alan, regarding the Phase I NCI data with Enhertu, do you expect interim data to be presented at a medical conference like ASCO, or will it be released in a press release? A: Ed, thanks for the question. It has been submitted to either AACR or ASCO. So, I would expect it to be presented at one of those two conferences.