PUMA BIOTECHNOLOGY, INC. PBYI
Unless otherwise provided in this Annual Report, references to the "Company," "we," "us," and "our" refer to Puma Biotechnology, Inc. and our wholly owned subsidiary.
We are a biopharmaceutical company that develops and commercializes innovative products to enhance cancer care and improve treatment outcomes for patients. We are currently commercializing NERLYNX, an oral version of neratinib, for the treatment of certain HER2-positive breast cancers. Additionally, we have in-licensed, and are responsible for global development and commercialization of, alisertib. Alisertib is a selective, small-molecule inhibitor of Aurora Kinase A that is designed to disrupt mitosis leading to apoptosis of rapidly proliferating tumor cells that are dependent on Aurora Kinase A. Prior to our licensing alisertib from a subsidiary of Takeda Pharmaceutical Company Limited ("Takeda"), alisertib was tested in over 1,300 patients who were treated across 22 company-sponsored trials resulting in a large, well-characterized clinical safety database. Based on information in this database, we believe alisertib has potential application in the treatment of a range of different cancer types, including hormone receptor-positive breast cancer, triple negative breast cancer and small cell lung cancer. We intend to pursue development of alisertib initially in small cell lung cancer and hormone receptor-positive breast cancer.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $228.4M | $230.5M | $235.6M | $228.0M | $253.2M | $225.1M | $272.3M | $251.0M | $27.7M | — |
| Cost of revenue | $58.2M | $64.4M | $62.7M | $55.1M | $63.7M | $39.4M | $36.8M | $34.6M | $5.6M | — |
| Gross profit | $170.2M | $166.1M | $173.0M | $172.9M | $189.5M | $185.7M | $235.4M | $216.4M | $22.1M | — |
| R&D | — | — | — | — | $71.9M | $97.7M | $132.9M | $164.9M | $207.8M | $222.8M |
| SG&A | $70.8M | $80.2M | $89.9M | $90.0M | $116.3M | $118.5M | $141.6M | $146.2M | $106.7M | $53.8M |
| Total operating expenses | $191.1M | $199.5M | $203.0M | $204.3M | $251.9M | $255.5M | $311.3M | $345.6M | $320.1M | $276.6M |
| Operating income | $37.3M | $31.0M | $32.6M | $23.7M | $1.3M | -$30.4M | -$39.0M | -$94.7M | -$292.4M | -$276.6M |
| Interest expense | $6.6M | $12.5M | $13.3M | $11.6M | $12.8M | $14.0M | $15.0M | $11.0M | $720.0K | — |
| Pre-tax income | $35.8M | $24.1M | $22.7M | $457.0K | -$28.8M | -$59.8M | -$75.5M | -$113.6M | -$292.0M | -$276.0M |
| Income tax | $4.7M | $6.2M | $1.1M | $455.0K | $324.0K | $207.0K | $53.0K | $17.0K | $0 | $0 |
| Net income | $31.1M | $30.3M | $21.6M | $2.0K | $29.1M | -$60.0M | -$75.6M | -$113.6M | -$292.0M | -$276.0M |
| EPS, basic | 0.62 | 0.62 | 0.46 | 0.00 | -0.72 | -1.52 | -75,595.00 | — | — | — |
| EPS, diluted | 0.61 | 0.62 | 0.45 | 0.00 | -0.72 | -1.52 | -1.95 | -2.99 | -7.85 | -8.29 |
| Shares, diluted (wtd. avg.) | $50.7M | $49.1M | $47.6M | $44.9M | $40.6M | $39.6M | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $29.6M | $69.2M | $84.6M | $76.2M | $63.1M | $85.3M | $60.0M | $108.4M | $81.7M | $194.5M |
| Short-term investments | $67.9M | $31.7M | $11.4M | $4.9M | $19.0M | $8.1M | $51.6M | $57.0M | — | $35.0M |
| Receivables | $53.7M | $32.0M | $47.8M | $40.4M | $32.5M | $25.5M | $28.9M | $20.8M | $9.7M | — |
| Inventory | $5.5M | $8.7M | $7.1M | $4.5M | $7.1M | $3.5M | $3.2M | $2.6M | $2.0M | — |
| Total current assets | $162.7M | $147.7M | $156.2M | $134.3M | $140.0M | $146.1M | $166.3M | $203.0M | $106.4M | $236.5M |
| Property, plant and equipment | $187.0K | $515.0K | $855.0K | $1.1M | $1.8M | $2.5M | $3.3M | $4.0M | $4.5M | $5.2M |
| Other intangibles | $41.4M | $51.1M | $60.9M | $70.6M | $66.1M | $74.1M | $40.5M | $44.4M | $48.4M | — |
| Total assets | $216.3M | $213.3M | $230.5M | $222.1M | $226.6M | $244.2M | $234.9M | $259.1M | $165.5M | $252.8M |
| Accounts payable | $5.1M | $5.5M | $6.9M | $6.4M | $11.2M | $12.1M | $19.2M | $20.7M | $27.7M | $20.0M |
| Short-term debt | $22.5M | $45.3M | $34.0M | $0 | $0 | $14.3M | — | — | — | — |
| Total current liabilities | $81.3M | $96.1M | $99.4M | $77.5M | $109.6M | $114.3M | $90.8M | $67.1M | $58.3M | $37.5M |
| Long-term debt | $0 | $21.7M | $65.7M | $98.3M | $97.1M | $84.0M | $95.0M | $151.9M | $48.5M | — |
| Total liabilities | $86.0M | $121.2M | $177.1M | $200.5M | $229.0M | $250.2M | $217.4M | $224.8M | $112.2M | $43.0M |
| Retained earnings | -$1.28B | -$1.31B | -$1.35B | -$1.37B | -$1.37B | -$1.34B | -$1.28B | -$1.20B | -$1.09B | -$796.5M |
| Total equity | $130.3M | $92.1M | $53.4M | $21.6M | -$2.4M | -$6.0M | $17.5M | $34.3M | $53.3M | $209.8M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $41.8M | $38.9M | $27.0M | -$15.8M | $20.6M | $773.0K | $22.4M | -$24.1M | -$172.5M | -$141.7M |
| Depreciation and amortisation | $400.0K | $400.0K | $400.0K | $600.0K | $700.0K | $900.0K | $900.0K | $1.1M | $1.1M | — |
| Stock-based compensation | $6.9M | $8.2M | $10.2M | $11.8M | $32.6M | $36.6M | $57.3M | $86.9M | $108.7M | $117.3M |
| Capital expenditure | $71.0K | $56.0K | $140.0K | $0 | $0 | $46.0K | $306.0K | $170.0K | $431.0K | $4.3M |
| Investing cash flow | -$36.2M | -$20.4M | -$19.1M | $7.1M | -$10.9M | $33.4M | $5.2M | -$57.6M | -$15.4M | $142.2M |
| Financing cash flow | -$45.2M | -$33.8M | $0 | $12.2M | -$31.9M | -$9.9M | -$67.1M | $108.5M | $75.1M | $162.4M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001437749-26-013671.
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