Puma Biotechnology reports Q4 EPS 31c, consensus 30c

Reports Q4 revenue $72.2M, consensus $73.6M. “We are pleased to report positive net income for both the fourth quarter and full year 2023,” said Alan H. Auerbach, CEO. “NERLYNX sales in the fourth quarter were negatively impacted by the lower enrollments seen in Q3, as well as a higher than expected gross to net for the quarter. We have continued to reduce our internal expenses to account for this higher gross to net and lower Q3 enrollments, as we recognize our fiscal responsibility to continue to be net income positive in 2024. Puma also continues to execute on the clinical development of alisertib, and in February, we were pleased to initiate ALISertib in CAncer, a Phase II clinical trial of alisertib monotherapy for the treatment of patients with extensive stage small cell lung cancer.”