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Puma Biotechnology Reports First Quarter 2019 Financial Results

Puma Biotechnology, Inc. (NASDAQ: PBYI), a biopharmaceutical company,
announced financial results for the first quarter ended March 31, 2019.
Unless otherwise stated, all comparisons are for the first quarter 2019
compared to the first quarter of 2018.


Product revenue, net consists entirely of sales revenue from NERLYNXA®,
Pumaa??s first commercial product. Net NERLYNX revenue in the first
quarter of 2019 was $45.6 million, compared to net NERLYNX revenue of
$36.0 million in the first quarter of 2018.


Based on accounting principles generally accepted in the United States
(GAAP), Puma reported a net loss of $10.1 million, or $0.26 per share,
for the first quarter of 2019, compared to a net loss of $24.3 million,
or $0.65 per share, for the first quarter of 2018.


Non-GAAP adjusted net income was $8.1 million, or $0.21 per basic share
and $0.20 per diluted share, for the first quarter of 2019, compared to
non-GAAP adjusted net income of $1.1 million, or $0.03 per basic share
and $0.02 per diluted share, for the first quarter of 2018. Non-GAAP
adjusted net income excludes stock-based compensation expense, which
represents a significant portion of overall expense. For a
reconciliation of GAAP net loss to non-GAAP adjusted net income and GAAP
net loss per share to non-GAAP adjusted net income per share, please see
the financial tables at the end of this news release.
See also:
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