PBYI - Puma Biotechnology: Still Bullish At These Prices
Puma Biotechnology (PBYI) recently reported their Q1 earnings with a beat on EPS and revenue. Puma reported $51.2M in total revenue for Q1, which consisted of $2M in license revenue, $0.6M from royalties, and $48.6M from NERLYNX net sales. Unfortunately, NERLYNX sales were down from the $58.7M from Q4. However, it was a 6.7% increase over Q1 of 2019. On the surface, it appears Puma had another quarter of lackluster numbers and cash burn. Once again, I had to dig deeper into the earnings report and conference call to uncover some bullish signals that have