Puma Biotechnology earnings for the fourth quarter of 2018 have PBYI stock soaring on Friday.
Puma Biotechnology (NASDAQ:PBYI) reported losses per share of 32 cents for the fourth quarter of the year. This is better than the company’s losses per share of $1.03 from the same period of the year prior. It was also a major boon to PBYI stock by beating out Wall Street’s losses per share estimate of 77 cents for the quarter.
Net loss reported by Puma Biotechnology for the fourth quarter of 2018 was $30.70 million. This is a narrower net loss than the company’s $64.10 million that was reported in the fourth quarter of 2017.
Operating loss reported by Puma Biotechnology for the fourth quarter of the year comes in at $18.60 million. The pharmaceutical company reported an operating loss of $63.60 million during the same time last year.
Puma Biotechnology earnings for the fourth quarter of 2018 also includes revenue of $71.10 million. This is a massive increase over the company’s revenue of $21.60 million for the fourth quarter of the previous year. It is also a blessing to PBYI sock by coming in above analysts’ revenue estimate of $53.50 million for the period.
The strong revenue growth in the Puma Biotechnology earnings report fourth quarter of the year is due to Nerlynx sales. This is the company’s first commercial product. Its sales account for $61.10 million of the company’s revenue during the quarter.
PBYI stock was up 41% as of noon Friday.
As of this writing, William White did not hold a position in any of the aforementioned securities.