PBYI - Puma soars 17% as breast cancer drug Nerlynx drives Q3 sales raises outlook
- Puma Biotechnology ( NASDAQ: PBYI ) stock rose ~17% on Friday after Q3 results beat estimates and the company raised revenue outlook for its breast cancer drug Nerlynx.
- Q3 adjusted EPS rose to $0.05, compared to loss of -$0.99 in Q3 2021 ( consensus -$0.06 from 4 analysts)
- Total revenue grew +23.59% Y/Y to $57.1M (consensus from (2 analysts $50.70M).
- Product sales of Nerlynx increased +25.1% Y/Y to $54.3M.
- Puma now expects Nerlynx sales to be between $194M and $196M, compared to prior forecast of $180M to $190M.
- Q3 research and development (R&D) expenses declined to $11.2M, compared to $18.8M in Q3 2021.
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Puma soars 17% as breast cancer drug Nerlynx drives Q3 sales, raises outlook