![]() Royalty revenues were $3 million, down 63.4% from the year-ago quarter. While Nerlynx total prescriptions increased year over year and sequentially in the second quarter, new prescriptions declined both year over year and sequentially On the conference call, Puma mentioned that demand for Nerlynx rose approximately 2.9% year over year and about 0.7% sequentially. Product revenues also beat the Zacks Consensus Estimate of $48.6 million as well as our model estimate of $49.0 million. Nerlynx’s product sales were slightly better than the guidance range of $47-$50. Product revenues from Nerlynx were $51.6 million in the quarter, almost flat year over year as sales were hurt by inventory drawdown at specialty pharmacies and specialty distributors. Image Source: Zacks Investment Research Quarter in Detail Puma Biotech’s shares have declined 16.8% so far this year compared with the industry’s 13% decline. Puma Biotech’s shares were up around 2.6% in after-hours trading on Thursday in response to the better-than-expected earnings performance. ![]() Nerlynx is indicated for treating early-stage HER2-positive breast cancer. Total revenues comprised net product sales of Nerlynx (neratinib), Puma Biotech's only marketed drug in the United States, and license fees and royalty revenues from PBYI’s sub-licensees. In the second quarter, total revenues were $54.6 million, which beat the Zacks Consensus Estimate of $51.4 million. ![]() The above-adjusted loss excludes the impact of stock-based compensation expense, including which, reported earnings per share were 5 cents, down 76% year over year. Puma Biotechnology ( PBYI Quick Quote PBYI - Free Report) reported second-quarter 2023 earnings of 10 cents per share, which beat the Zacks Consensus Estimate of 7 cents. ![]()
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