Puma Biotechnology Reports First Quarter 2016 Financial Results

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Go back to Puma Biotechnology Reports First Quarter 2016 Financial Results

Puma Biotech (PBYI) Tops Q1 EPS Views

May 10, 2016 4:19 PM EDT

Puma Biotech (NYSE: PBYI) reported Q1 EPS of ($1.28), $0.71 better than the analyst estimate of ($1.99).

Net cash used in operating activities for the first quarter of 2016 was $35.0 million. At March 31, 2016, Puma had cash and cash equivalents of $78.2 million and marketable securities of $103.0 million, compared to cash and cash equivalents of $31.6 million and marketable securities of $184.3 million at December 31, 2015. The Company anticipates that net cash used in operating activities will be lower in subsequent quarters due to a reduction in the expenses described above.

To date in 2016, we have achieved a number of key... More