Puma Biotechnology, Inc. (PBYI) stock plummeted 17.84% in the after-hours trading session at the price of $5.25 after announcing its earnings report for the third quarter ended on 30th September 2021. PBYI is a biopharmaceutical firm that develops and commercializes innovative products to improve cancer care.
PBYI Third Quarter 2021 Financial Results
On 4th November 2021, PBYI published its financial results for the third quarter ended on 30th September 2021 and provided business updates.
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Financial Highlights
PBYI calculated total revenue of $46.2 million for the third quarter ended on 30th September 2021. Total revenue was approximately $50.8 million for the third quarter ended on 30th September 2020. For the relative quarter of 2021, product revenue was roughly $43.4 million and royalty revenues were $2.8 million. For the first nine months ended on 30th September 2021, the company announced total revenue of approximately $197.8 million. Total revenue was approximately $172.6 million for the first nine months ended on 30th September 2020.
For the third quarter ended on 30th September 2021, PBYI reported a net loss of $44.7 million or net loss per share of $1.09. A net loss was $31.5 million, or net loss per share was $0.79, for the same quarter ended on 30th September 2020. For the first nine months of 2021, the net loss was $33.4 million, or $0.82 per share. A net loss was $45.0 million, or $1.14 per share, for the first nine months ended 30th September 2020. For the third quarter of 2021, total expenses were $35.7 million. Total expenditures were $19.4 million for the third quarter ended 30th September 2020. For the first nine months of 2021, total costs were $27.7 million, compared to expenses of $25.8 million for the first nine months ended 30th 2020.
For the third quarter ended 30th September 2021, net cash from operating activities was roughly $10.5 million. Net cash from operating activities was $1.7 million for the third quarter ended on 30th September 2020. For the first nine months of 2021, net cash from operating activities totaled $26.1 million. For the first nine months ended 30th September 2020, cash from operating activities was $6.4 million. On 30th September 2021, PBYI reported cash, cash equivalents, and marketable securities of approximately $87.5 million. At 31st December 2020, cash, cash equivalents, and marketable securities were $93.4 million.
