For reconciliations of GAAP net loss to non-GAAP adjusted net loss and GAAP net loss per share to non-GAAP adjusted net loss per share, please see the financial tables at the end of this news release. David Schull or Maggie Beller, Russo Partners, +1 212 845 4200 € 788.7 million (last year: 846.9 million). See insights on Puma including office locations, competitors, revenue, financials, executives, subsidiaries and more at … We are looking at three phases: Survive, Recover, Grow Again. Puma Biotechnology, Inc. (NASDAQ: PBYI), a biopharmaceutical company, announced financial results for the third quarter ended September 30, 2020. The above graph clearly shows the massive difference in the revenues of Puma with its competitors. https://www.businesswire.com/news/home/20201105005268/en/, Alan H. Auerbach or Mariann Ohanesian, Puma Biotechnology, Inc., +1 424 248 6500 As a result, PUMA's sales declined in the first quarter of 2020 by 1.3% currency adjusted to € 1,299.8 million (-1.5% reported). The industry is expected to be in a strong position after the crisis. View source version on businesswire.com: In addition, higher costs in our e-commerce business and more retail expenses caused by a higher number of owned and operated stores also contributed to the increase. € 510.7 million). Puma in-licenses the global development and commercialization rights to PB272 (neratinib, oral), PB272 (neratinib, intravenous) and PB357. Strong or moderate CYP3A4 inducers: Avoid concomitant use. Puma assumes no obligation to update these forward-looking statements, except as required by law. This resulted in the additional $15.7 million legal expense during the third quarter of 2020. 2020 FIRST QUARTER HEAVILY IMPACTED BY COVID-19. Nike had approximately €27.3 billion revenue in 2015 and Adidas had €16.92 billion revenue … NERLYNX was granted marketing authorization by the European Commission in 2018 for the extended adjuvant treatment of adult patients with early stage hormone receptor-positive HER2-overexpressed/amplified breast cancer and who are less than one year from completion of prior adjuvant trastuzumab-based therapy. Puma, which competes aggressively with Nike and Reebok, said womenswear accounted for 28% sales, up from 24% a year ago. Net NERLYNX revenue in the first nine months of 2020 was $146.7 million, compared to $152.9 million in the first nine months of 2019. Against Modern Slavery and Human Trafficking. The $8.2 million year-over-year decrease in total other expenses resulted primarily from decreases in interest expense of approximately $1.4 million, legal verdict expense of approximately $0.4 million and debt extinguishment loss of approximately $8.1 million and an increase in other income of approximately $0.2 million, partially offset by a decrease in interest income of approximately $1.9 million. In China, after a good start to the year with double-digit growth in wholesale, e-commerce and owned and operated stores, the Chinese market shut down in the last week of January. Operating costs and expenses in the first nine months of 2020 were $191.8 million, compared to $239.7 million in the first nine months of 2019. To help ensure patients have access to NERLYNX, Puma has implemented the Puma Patient Lynx support program to assist patients and healthcare providers with reimbursement support and referrals to resources that can help with financial assistance. R&D expenses for the first nine months of 2020 were $73.5 million, compared to $102.6 million for the first nine months of 2019. Given these challenges, we were pleased that we were able to achieve revenues that were within the previously stated third quarter guidance range of net NERLYNX revenues,” said Alan H. Auerbach, Chairman, Chief Executive Officer and President of Puma. Over the next six weeks, the whole business in China, except for e-commerce, basically disappeared. Puma has 13,000 employees across 9 locations and €4.14 B in annual revenue in FY 2017. Total revenue consists of product revenue, net from sales of NERLYNX, Puma’s first commercial product, license revenue, and royalty revenue. During the third quarter, we announced the publication of updated interim results of the Phase II CONTROL trial in Annals of Oncology as well as the publication of overall survival results from the Phase III ExteNET Trial in patients with HER2-positive, hormone receptor-positive, early stage breast cancer in Clinical Breast Cancer, which we believe further reinforces the benefits of neratinib.”, Mr. Auerbach added, “We anticipate the following key milestones over the next 12 months: (i) reporting Phase II data from the SUMMIT trial of neratinib in hormone receptor positive breast cancer patients with HER2 mutations in the fourth quarter of 2020; (ii) reporting additional data from the Phase II CONTROL trial in the fourth quarter of 2020; (iii) reporting Phase II data from the SUMMIT trial of neratinib in bile duct cancer patients with HER2 mutations in the first quarter of 2021; (iv) reporting Phase II data from the SUMMIT trial of neratinib in non-small cell lung cancer patients with EGFR exon 18 mutations in the first half of 2021; (v) conducting a pre-NDA meeting with the FDA to discuss accelerated approval of neratinib in HER2 mutated hormone receptor positive breast cancer and HER2 mutated cervical cancer in the first half of 2021; (vi) reporting data from the Phase II TBCRC-022 trial of the combination of Kadcyla plus neratinib in patients with HER2-positive breast cancer with brain metastases who have previously been treated with Kadcyla in the first half of 2021; (vii) conducting a meeting with the FDA to discuss the potential for an accelerated approval pathway for neratinib in non-small cell lung cancer patients with EGFR exon 18 mutations who have been previously treated with an EGFR tyrosine kinase inhibitor in 2021; and (viii) receiving regulatory decisions for an extended adjuvant HER2-positive early stage breast cancer indication in additional countries in 2021.”. We are working with our factories and other partners in our supply chain to minimize the damage, assure timely deliveries, avoid excess stock as much as possible and to find fair solutions for all of us. Puma is a firm that runs an international chain of specialty sportswear stores and an online site that features its entire catalog of brands for a variety of purposes. (4) Non-GAAP adjusted basic net loss per share was calculated based on 38,893,757 and 38,675,961 weighted-average shares of common stock outstanding for the three and nine months ended September 30, 2019, respectively. Total revenue consists of product revenue, net from sales of NERLYNX, Puma’s first commercial product, license revenue, and royalty revenue. Product revenue, net consists entirely of sales revenue from NERLYNX®, Puma’s first commercial product. For the third quarter of 2020, total revenue was $50.8 million, of which $49.3 million was net product revenue and $1.5 million was royalty revenue from Puma's sub-licensees. NERLYNX in combination with capecitabine: Diarrhea, nausea, vomiting, decreased appetite, constipation, fatigue/asthenia, weight decreased, dizziness, back pain, arthralgia, urinary tract infection, upper respiratory tract infection, abdominal distention, renal impairment, and muscle spasms. Puma Delivers the RS-Dreamer 'Ebony and Ivory' J. Cole Wore During 2020 NBA All-Star Weekend “[The year] 2019 [was] the best year in Puma’s history,” said CEO Bjorn Gulden in a statement. The first quarter was difficult, but we feel we did a decent job. In total, working capital decreased by 6.9% to This compares to total revenue of $209.3 million for the first nine months of 2019, of which $152.9 million was net product revenue, $56.2 million was license revenue, and $0.2 million was royalty revenue from Puma’s sub-licensees. The company’s shares have gained +13.4% over the past 6 months, with this year growth rate of -33.33%, compared to 14.3% for the industry. Selling, General and Administrative Expenses. Today, Puma reported total revenue for the third quarter of 2020 of $50.8 million. We see an improvement in APAC, where especially China and South Korea are recovering; and we see the first stores opening again in some of the European countries. The lifestyle sportswear brand’s India unit reported revenue of Rs 1,413 crore in calendar year 2019, latest regulatory filings show. Non-GAAP adjusted net loss for the first nine months of 2020 was $17.9 million, or $0.45 per share, compared to non-GAAP adjusted net loss of $18.6 million, or $0.48 per share, for the first nine months of 2019. The distribution in Americas is still almost fully shut down. Net loss for the first nine months of 2020 was $45.0 million, or $1.14 per share, compared to a net loss of $64.4 million, or $1.67 per share, for the first nine months of 2019. Research and development (R&D) expenses were $23.3 million for the third quarter of 2020, compared to $30.0 million for the third quarter of 2019. “2020 started very well with a great order book, strong sell through and record retail numbers,” said PUMA CEO Bjørn Gulden. Given that a large proportion of the global sports and sports lifestyle distribution is currently closed, that consumers are still concerned about their health and safety and that we at PUMA are currently achieving only about 50% of normal revenue, we expect the financial performance in the second quarter to be worse than in the first quarter. Total revenue includes net US NERLYNX sales as well as license and royalty fees from our sublicensees. For the three months and nine months ended September 30, 2020, stock-based compensation represented approximately 14.4% and 16.6% of operating expenses, respectively, and 19.9% and 21.5%, respectively, for the same periods in 2019, in each case excluding cost of sales. 2019 was an exciting year for us as a sports brand and for our business. By providing your email address below, you are providing consent to Puma Biotechnology, Inc. to send you the requested Investor Email Alert updates. More information on the Puma Patient Lynx program can be found at www.NERLYNX.com or 1-855-816-5421. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Revenue can be defined as the amount of money a company receives from its customers in exchange for the sales of goods or services. PUMA started the year with a very positive order book for 2020, with strong and balanced growth in all regions. Net cash provided by operating activities for the third quarter of 2020 was $1.7 million, compared to net cash used in operating activities of $7.3 million in the third quarter of 2019. Increase (decrease) in cash and cash equivalents, Adjustment to net loss (as detailed above), Non-GAAP adjusted basic net loss per share. In terms of product divisions, Footwear grew by 1.9% in constant currency while Apparel and Accessories were down 6.3% and 0.2%. For the second quarter of 2020, total revenue was $70.6 million, of which $48.8 million was net product revenue, $20.7 million was license revenue received from Puma’s Other than that, the company has, however, lowered its growth outlook for the 2020 fiscal year revenue. Puma market cap is €12.9 b, and annual revenue was €4.14 b in FY 2017. The $16.9 million increase in total other expenses for the three months ended September 30, 2020, compared to the three months ended September 30, 2019, was largely attributable to a legal verdict expense of $15.9 million. As a result, PUMA's sales declined in the first quarter of 2020 by 1.3% currency adjusted to € 1,299.8 million (-1.5% reported). [email protected] E-commerce is growing at a very high rate, but this growth cannot in any way compensate for the revenue loss in the other channels. Puma Biotechnology, Inc. (NASDAQ: PBYI), a biopharmaceutical company, announced financial results for the third quarter ended September 30, 2020. At the end of the first quarter, almost all of our owned and operated retail stores as well as the stores of our retail partners were closed. Operating expenses (OPEX) rose by 8.3% to € 553.3 million in the first quarter (last year: People have already now started doing more sports wherever it is possible, even under difficult circumstances. Both wholesale and retail channels were significantly impacted by the store closures instructed by local authorities around the globe. Today, Puma reported total revenue for the third quarter of 2020 of $50.8 million. Trade receivables declined by 12.6% to € 672.0 million. While its competitors have a much higher revenue giving them much more scope for innovation and research and development. We are mitigating the impact on our revenues wherever we can by focusing on e Commerce and the markets that are opening up again. Puma SE Annual stock financials by MarketWatch. 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