Puma Biotechnology Q3 net loss widens to $44.7M; product revenue falls 12%

PUMA BIOTECHNOLOGY, INC.

2021-Q3 EPS reported -$0.82 revenue$197,798,000

Q3 product revenue $43.4M, down from $49.3M YoY; COVID-19 impact and inventory reduction of ~$3.5M.
GAAP net loss $44.7M ($1.09/share) vs $31.5M ($0.79/share) in Q3 2020; non-GAAP adj. loss $40.4M.
Cash, cash equivalents, and marketable securities $87.5M at Sep 30; operating cash flow $10.5M positive.
Nine-month 2021 total revenue $197.8M included $50M upfront from Pierre Fabre for Greater China rights.
Milestones: SUMMIT trial data, FDA Type C meeting for accelerated approval in HER2-mutated breast cancer, regulatory decisions.

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