How to Take Control on Your business through this: Puma Biotechnology, Inc. (NASDAQ: PBYI)

On 27 Dec 2019, Puma Biotechnology, Inc. (NASDAQ: PBYI) spotted trading -80.27% off 52-week high price. On the other end, the stock has been noted 38.34% away from the low price over the last 52-weeks. The stock changed -2.15% to recent value of $8.66. The stock transacted 1290195 shares during most recent day however it has an average volume of 1764.66K shares. The company has 40.85M of outstanding shares and 34.62M shares were floated in the market.

Puma Biotechnology, Inc. (PBYI) reported financial results for the third quarter ended September 30, 2019. Unless otherwise stated, all comparisons are for the third quarter 2019 contrast to the third quarter 2018.

Product revenue, net consists entirely of sales revenue from NERLYNX®, Puma’s first commercial product. Net NERLYNX revenue in the third quarter of 2019 was $53.5M, contrast to net NERLYNX revenue of $52.6M in the third quarter of 2018. Net NERLYNX revenue in the first nine months of 2019 was $152.9M, contrast to net NERLYNX revenue of $139.4M in the first nine months of 2018.

Based on accounting principles generally accepted in the United States (GAAP), Puma stated a net loss of $16.9M, or $0.44 per share, for the third quarter of 2019, contrast to a net loss of $14.2M, or $0.37 per share, for the third quarter of 2018. Net loss for the first nine months of 2019 was $64.4M, or $1.67 per share, contrast to $82.9M, or $2.19 per share, for the first nine months of 2018.

Non-GAAP adjusted net loss was $4.7M, or $0.12 per share, for the third quarter of 2019, contrast to non-GAAP adjusted net income of $6.6M, or $0.17 per basic share and $0.16 per diluted share, for the third quarter of 2018. Non-GAAP adjusted net loss for the first nine months of 2019 was $18.6M, or $0.48 per share, contrast to non-GAAP adjusted net loss of $14.5M, or $0.38 per share, for the first nine months of 2018. Non-GAAP adjusted net loss excludes stock-based compensation expense. For a reconciliation of GAAP net loss to non-GAAP adjusted net loss and GAAP net loss per share to non-GAAP adjusted net loss per share, please see the financial tables at the end of this news release.

Net cash used in operating activities for the third quarter of 2019 was $7.3M, contrast to $7.3M in the third quarter of 2018. Net cash provided by operating activities for the first nine months of 2019 was $20.8M, contrast to net cash used in operating activities of $31.2M for the first nine months of 2018. At September 30, 2019, Puma had cash, cash equivalents and marketable securities of $110.4M, contrast to $165.4M at December 31, 2018.

“In the third quarter of 2019 we were happy to report that our supplemental New Drug Application for neratinib for the treatment of third-line HER2-positive metastatic breast cancer was accepted by the U.S. Food and Drug Administration,” stated Alan H. Auerbach, Chairman, Chief Executive Officer and President of Puma. “The FDA also granted Orphan Drug Designation for neratinib for the treatment of breast cancer patients with brain metastases during the quarter. In addition, we were happy to report that NERLYNX was accepted by Health Canada and ANMAT in Canada and Argentina, respectively, during the quarter.”

PBYI has a gross margin of 86.80% and an operating margin of -29.40% while its profit margin remained -33.90% for the last 12 months.   According to the most recent quarter its current ratio was 1.7 that represents company’s ability to meet its current financial obligations. The price moved ahead of -2.39% from the mean of 20 days, 5.56% from mean of 50 days SMA and performed -44.50% from mean of 200 days price. Company’s performance for the week was 0.00%, -7.38% for month and YTD performance remained -57.44%.

 

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