Earnings Releases·Nov 5, 2026, 4:13 PM ET

Puma Biotechnology — Third Quarter 2026 Earnings Summary

**Financial Results:** Total revenue rose to $55.1 million in Q3 2026 from $54.5 million in Q3 2025, driven by product revenue growth despite a $2.1 million royalty reduction due to generic NERLYNX market share in China; GAAP net income declined to $6.0 million ($0.12/share) from $8.8 million ($0.18/share) year-over-year, while non-GAAP adjusted net income fell to $8.0 million ($0.15/share) from $10.5 million ($0.21/share).
**Guidance Revision:** Management raised full-year 2026 net income guidance to $20–$22 million from a prior range of $17–$20 million and increased the gross-to-net adjustment guidance to 27.5%–28% from 26.5%–27.5%, citing anticipated increased demand for NERLYNX.
**Strategic Milestones:** The company initiated the ALISCA-Lung2 Phase II trial in September 2026 and continues enrollment in ALISCA-Breast1 and ALISCA-Lung1, with key data presentations and regulatory discussions for alisertib scheduled through 2027.
**Balance Sheet & Capital:** Net cash provided by operating activities increased to $14.6 million in Q3 2026 from $9.7 million in the prior year, and the company repaid debt principal in May 2026, reducing the current portion of long-term debt to $0 and increasing cash equivalents to $108.5 million.