Puma Biotechnology, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 03, 2023 at 04:41 pm EDT
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Puma Biotechnology, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 54.57 million compared to USD 59.52 million a year ago. Net income was USD 2.13 million compared to USD 9.37 million a year ago. Basic earnings per share from continuing operations was USD 0.05 compared to USD 0.21 a year ago. Diluted earnings per share from continuing operations was USD 0.05 compared to USD 0.21 a year ago.
For the six months, revenue was USD 107.34 million compared to USD 105.25 million a year ago. Net income was USD 3.53 million compared to USD 5.97 million a year ago. Basic earnings per share from continuing operations was USD 0.08 compared to USD 0.14 a year ago. Diluted earnings per share from continuing operations was USD 0.07 compared to USD 0.14 a year ago.
Puma Biotechnology, Inc. is a biopharmaceutical company. The Company is focused on the development and commercialization of products to enhance cancer care. The Company's lead product is NERLYNX, an oral version of neratinib, for the treatment of HER2-positive breast cancer. Neratinib is a potent irreversible tyrosine kinase inhibitor (TKI) that blocks signal transduction through the epidermal growth factor receptors, HER1, HER2 and HER4 It also engaged in the 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. Its neratinib has clinical application in the treatment of several other cancers as well, including other tumor types that over-express or have a mutation in HER2 or epidermal growth factor receptor (EGFR), such as breast cancer, cervical cancer, lung cancer, or other solid tumors.