PBYI Q2 Earnings & Sales Beat Estimates, 2026 Guidance Raised

Puma Biotechnology PBYI reported second-quarter 2026 adjusted earnings of 19 cents per share, beating the Zacks Consensus Estimate of 10 cents. In the year-ago quarter, the company had reported adjusted earnings of 15 cents per share.

Total revenues for the quarter were $56.5 million, which beat the Zacks Consensus Estimate of $53 million. Revenues increased 7.8% year over year, driven by higher net product sales.

Total revenues comprised net product sales of Nerlynx (neratinib), PBYI’s only marketed drug in the United States, and royalty revenues. Nerlynx is indicated for the treatment of early-stage HER2-positive breast cancer.

Year to date, shares of Puma Biotechnology have rallied 36.5% compared with the industry’s 4.4% growth.

Image Source: Zacks Investment Research

PBYI’s Q2 Earnings in Detail

Product revenues from Nerlynx totaled $53.6 million in the second quarter, up about 9% year over year. This metric beat our model estimate of $50.9 million.

Royalty revenues declined 9.4% year over year to $2.9 million.

Selling, general and administrative (SG&A) expenses (excluding stock-based compensation expense) declined 4.1% year over year to $16.3 million.

Research and development (R&D) expenses (excluding stock-based compensation expense) totaled $18.2 million, up 22.1% year over year, reflecting higher costs associated with clinical studies on alisertib along with higher internal R&D expenses.

As of June 30, 2026, PBYI had cash, cash equivalents, restricted cash and investment securities of $93.9 million compared with $101.5 million as of March 31, 2026.

PBYI's Guidance 2026

Puma Biotechnology raised its financial guidance for 2026.

For full-year 2026, total revenues are expected to be in the range of $224-$231 million compared with the previous projection of $222-$229 million. The Zacks Consensus Estimate for the metric is pegged at $224.5 million.

Net product revenues are projected to be in the range of $205-$209 million versus the earlier expectation of $202-$206 million.

Meanwhile, royalty revenues are expected to be to range from $19 million to $22 million, down from the previous expectation of $20–$23 million.

The company expects to generate net income of $17-$20 million compared with the earlier projection of $16-$19 million for 2026.

For the third quarter of 2026, the company expects net product revenues to be between $54 million and $56 million and royalty revenues in the range of $2 million to $3 million. Total revenues are expected to be between $56 million and $59 million. The company anticipates reporting a net income of approximately $2 million to $3.5 million for the quarter.

PBYI's Pipeline Updates

Puma Biotechnology in-licensed global development and commercialization rights to alisertib, an aurora kinase A inhibitor, from Japan’s Takeda in 2022. It is developing alisertib for hormone receptor-positive breast cancer as well as small-cell lung cancer (SCLC).

The company is conducting a phase II ALISCA-Breast1 study on alisertib in combination with endocrine treatment in patients with chemotherapy-naïve HER2-negative, hormone receptor-positive metastatic breast cancer. Updated data from the study are expected in the fourth quarter of 2026.

PBYI is conducting ALISCA-Lung1, a phase II study evaluating alisertib as a monotherapy for the treatment of patients with extensive-stage SCLC.

The company plans to expand enrollment in both these studies in the second half of 2026.

Puma Biotechnology plans to initiate enrollment in the phase I/II ALISCA-Lung2 study of alisertib in combination with paclitaxel for the treatment of patients with extensive-stage SCLC in the third quarter of 2026.

Puma Biotechnology, Inc. Price, Consensus and EPS Surprise

Puma Biotechnology, Inc. price-consensus-eps-surprise-chart | Puma Biotechnology, Inc. Quote

PBYI’s Zacks Rank & Stocks to Consider

Puma Biotechnology currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the biotech sector are Harmony Biosciences HRMY and Liquidia Corporation LQDA, each currently sporting a Zacks Rank #1 (Strong Buy) and Altimmune ALT, which carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Over the past 60 days, earnings per share estimates for Harmony Biosciences have increased from $3.20 to $3.33 for 2026. Over the same period, estimates for earnings per share increased from $3.64 to $3.92 for 2027. HRMY shares have risen 3.5% year to date.

Harmony Biosciences missed on earnings in three of the trailing four quarters and beat in the remaining one, delivering an average negative surprise of 13.97%.

Over the past 60 days, estimates for Liquidia’s 2026 earnings per share have increased to $3.02 from $2.97. Over the same period, EPS estimates for 2027 have risen to $5.31 from $4.81. LQDA shares have gained 159.3% year to date.

Liquidia’s earnings beat estimates in three of the trailing four quarters and missed in the remaining one, with the average surprise being 54.40%.

Over the past 60 days, estimates for Altimmune’s 2026 loss per share have narrowed from 69 cents to 64 cents. Over the same period, loss estimates for 2027 have also improved from 73 cents to 64 cents. ALT shares have declined 16.7% year to date.

Altimmune’s earnings beat estimates in three of the trailing four quarters and missed in the remaining one, the average surprise being 15.81%.

Zacks' Research Chief Names "Stock Most Likely to Double"

Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.

This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research