Puma Biotechnology Reports Third Quarter 2025 Financial Results

Puma Biotechnology reported Q3 2025 revenue of $54.5 million, down from $80.5 million in Q3 2024, missing consensus revenue estimates by about 5%1 3.

Adjusted earnings per share (EPS) were $0.21, exceeding analyst estimates by approximately 31%1 3 7.

GAAP net income for the quarter was $8.8 million (or $0.18 per basic share), which declined from $20.3 million ($0.41 per share) in Q3 2024, but beat expectations1 3 8.

Net product revenue from Nerlynx sales reached $51.9 million, up from $49.2 million in Q2 2025 but below $56.1 million in Q3 20241 5.

US net sales of Nerlynx increased in Q3 2025, driven by higher inventory build and offset by a higher gross-to-net expense1 5.

Royalty revenue fell significantly, with product supply revenue to international partners dropping from $7.4 million in Q3 2024 to $0.1 million in Q3 20251 5.

Net income for the first nine months of 2025 increased to $17.7 million, compared with $11.0 million for the same period in 2024, due to reduced operating costs and expenses5 6.

Puma ended the quarter with $94.4 million in cash and marketable securities, maintaining a robust balance sheet9.

The company's updated full-year 2025 guidance is $220–223 million in revenue and $0.34–0.37 net income per share, reflecting a more optimistic outlook3 5.

Management cited ongoing clinical trials for alisertib and growth expectations for Nerlynx in the US as key strategic drivers going forward1 5.

The market responded positively, with Puma's stock rising approximately 5% in premarket trading after the results announcement1.