Puma Biotechnology Reports $46M Revenue and $3M Net Income in Q1 2025

Puma Biotechnology, Inc. reported a total revenue of approximately $46.0 million for the first quarter of 2025, marking an increase from $43.8 million in the same period of 2024. This growth was primarily driven by a rise in product revenue, which reached $43.1 million, up from $40.3 million year-over-year. The increase in product revenue was attributed to a higher net selling price, despite a slight decline in the volume of NERLYNX sold in the U.S. market. Royalty revenue, however, decreased to $2.9 million from $3.5 million, reflecting fewer international sales by sub-licensees.

Operating expenses for the quarter totaled approximately $42.0 million, a decrease from $46.1 million in the prior year. The reduction was largely due to a significant drop in selling, general, and administrative (SG&A) expenses, which fell to $17.6 million from $21.8 million. This decline was primarily driven by lower professional fees associated with ongoing litigation and a decrease in stock-based compensation expenses. Research and development (R&D) expenses remained relatively stable, increasing slightly to $13.9 million from $13.6 million, reflecting ongoing clinical trial activities, particularly related to alisertib.

Puma's net income for the first quarter of 2025 was approximately $3.0 million, a notable turnaround from a net loss of $4.8 million in the same quarter of 2024. This improvement was supported by a combination of increased revenues and reduced operating costs. The company reported earnings per share of $0.06, compared to a loss of $0.10 per share in the previous year. The company’s cash and cash equivalents stood at $63.0 million as of March 31, 2025, down from $69.2 million at the end of 2024, while marketable securities totaled $30.1 million.

Strategically, Puma continues to focus on the commercialization of NERLYNX, which is approved in over 50 countries outside the U.S. The company is also advancing its development of alisertib, having initiated clinical trials for this investigational drug. In September 2022, Puma entered into an exclusive license agreement with Takeda Pharmaceutical Company for alisertib, which includes potential milestone payments of up to $287.3 million. As of March 31, 2025, no milestones had been accrued, as the underlying contingencies were not deemed probable or estimable.

Looking ahead, Puma Biotechnology anticipates significant expenses related to the ongoing development of alisertib and the commercialization of NERLYNX. The company believes its existing cash and marketable securities will be sufficient to meet its operational needs for at least the next year. However, it acknowledges the potential for changes in market conditions and regulatory environments that could impact its financial performance and ability to sustain operations. The company remains committed to pursuing additional funding sources to support its growth and development initiatives.