New York, May 21, 2026, 14:05 EDT
- Puma Biotechnology shares traded slightly higher early this afternoon, but the move trailed gains in the biotech sector.
- The last investor update from the company was on May 7 with its first-quarter release, where it boosted guidance for revenue and net income for 2026.
- The stock remains linked to NERLYNX demand and what it costs to push alisertib trials forward.
Puma Biotechnology was up 0.3% to $7.01 late Thursday, slightly higher after trading in a tight range between $6.85 and $7.08. The move trailed the SPDR S&P Biotech ETF, which gained about 1.1% on the day.
Puma shares didn’t move much, but with no new corporate news out from the company, the shift stands out. The company’s investor page kept May 7 first-quarter results and a May 6 inducement-award update as the latest headlines.
Investors face the same question again: can Puma’s push for higher NERLYNX sales turn into better profit, even as clinical development costs rise.
Puma Biotechnology (PBYI) filed its 8-K on May 7, reporting quarterly results. The Nasdaq-listed company uses the 8-K to disclose big events.
Puma Biotechnology said first-quarter total revenue fell to $44.8 million from $46.0 million last year. Product sales of NERLYNX came in at $42.0 million, compared to $43.1 million in the same period a year ago.
Puma Biotechnology (GAAP) reported a net loss of $3.8 million, or 7 cents a share. That’s a swing from net income of $3.0 million in the same quarter last year. On a non-GAAP basis, which strips out stock-based compensation, Puma posted an adjusted loss of $1.9 million, or 4 cents a share.
Guidance did most of the work in the update. Puma Biotechnology now sees 2026 total revenue at $222 million to $229 million, up from the old $214 million to $221 million range. Net income forecast also climbed, now pegged at $16 million to $19 million from the prior $10 million to $13 million.
Puma chairman, CEO and president Alan H. Auerbach said NERLYNX demand rose year over year in the quarter. He said Puma is “carefully managing our resources” as it aims for positive net income this year. Puma Biotechnology, Inc.
Puma’s balance sheet shifted after it cleared the last payment owed under its 2021 note purchase agreement on May 4. The company said all outstanding debt is now gone, except for routine indemnification.
Competitive pressure is still an issue. Puma’s NERLYNX, used in HER2-positive breast cancer — where HER2 is a protein that can drive some cancers — faces a crowded market, Puma said in its annual filing. Other treatments out there include Genentech’s Herceptin and Perjeta, Daiichi Sankyo’s Enhertu, and Seagen’s Tukysa.
Puma warned in its quarterly report that most of its product revenue will depend on NERLYNX for now. R&D spend rose in the first quarter as the company ramped up alisertib trial work. The risk if NERLYNX sales slow, trial results weaken, or costs go higher: the stock could take a hit.
PBYI isn’t showing signs of a new catalyst in its trade right now. Shares are acting more like a typical small oncology stock as the market waits to see if the higher outlook sticks.
