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Puma Biotechnology (PBYI)

Market Price (5/3/2026): $7.35 | Market Cap: $370.5 Mil
Sector: Health Care | Industry: Biotechnology

Puma Biotechnology (PBYI)

Market Price (5/3/2026): $7.35
Market Cap: $370.5 Mil
Sector: Health Care
Industry: Biotechnology

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.2%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.4%, FCF Yield is 11%

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -18%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 18%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 18%

Megatrend and thematic drivers
Megatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Targeted Therapies, Biopharmaceutical R&D, Show more.

Trading close to highs
Dist 52W High is -4.0%, Dist 3Y High is -4.0%

Meaningful short interest
Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 12.6

Stock price has recently run up significantly
12M Rtn12 month market price return is 133%

Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.1%

Key risks
PBYI key risks include [1] heavy reliance on its single product, Show more.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.2%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.4%, FCF Yield is 11%
1 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -18%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 18%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 18%
3 Megatrend and thematic drivers
Megatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Targeted Therapies, Biopharmaceutical R&D, Show more.
4 Trading close to highs
Dist 52W High is -4.0%, Dist 3Y High is -4.0%
5 Meaningful short interest
Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 12.6
6 Stock price has recently run up significantly
12M Rtn12 month market price return is 133%
7 Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.1%
8 Key risks
PBYI key risks include [1] heavy reliance on its single product, Show more.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Puma Biotechnology (PBYI) stock has gained about 15% since 1/31/2026 because of the following key factors:

1. Strong Q4 2025 Financial Performance Exceeding Estimates.

Puma Biotechnology reported robust financial results for the fourth quarter of 2025 on February 26, 2026. The company posted an adjusted earnings per share (EPS) of $0.29, significantly surpassing the Zacks Consensus Estimate of $0.21 by 38.10%. Additionally, total revenues reached $75.5 million, beating the Zacks Consensus Estimate of $68 million.

2. Resilient NERLYNX Product Sales and Significant Royalty Revenue Growth.

Despite a conservative outlook for 2026, Puma Biotechnology demonstrated strong commercial execution in Q4 2025. Product revenues from its primary drug, NERLYNX, increased nearly 10% year-over-year to $59.9 million. Furthermore, royalty revenues experienced a substantial surge of 232% to $15.6 million in the fourth quarter.

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Stock Movement Drivers

Fundamental Drivers

The 15.6% change in PBYI stock from 1/31/2026 to 5/2/2026 was primarily driven by a 37.6% change in the company's P/E Multiple.
(LTM values as of)13120265022026Change
Stock Price ($)6.487.4915.6%
Change Contribution By: 
Total Revenues ($ Mil)2122287.7%
Net Income Margin (%)17.4%13.6%-21.9%
P/E Multiple8.812.137.6%
Shares Outstanding (Mil)5050-0.1%
Cumulative Contribution15.6%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2026 to 5/2/2026
ReturnCorrelation
PBYI15.6% 
Market (SPY)3.6%36.4%
Sector (XLV)-5.8%8.3%

Fundamental Drivers

The 46.9% change in PBYI stock from 10/31/2025 to 5/2/2026 was primarily driven by a 131.9% change in the company's P/E Multiple.
(LTM values as of)103120255022026Change
Stock Price ($)5.107.4946.9%
Change Contribution By: 
Total Revenues ($ Mil)238228-4.1%
Net Income Margin (%)20.4%13.6%-33.1%
P/E Multiple5.212.1131.9%
Shares Outstanding (Mil)5050-1.4%
Cumulative Contribution46.9%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 5/2/2026
ReturnCorrelation
PBYI46.9% 
Market (SPY)5.5%16.2%
Sector (XLV)1.5%9.9%

Fundamental Drivers

The 135.5% change in PBYI stock from 4/30/2025 to 5/2/2026 was primarily driven by a 135.3% change in the company's P/E Multiple.
(LTM values as of)43020255022026Change
Stock Price ($)3.187.49135.5%
Change Contribution By: 
Total Revenues ($ Mil)230228-0.9%
Net Income Margin (%)13.1%13.6%3.7%
P/E Multiple5.212.1135.3%
Shares Outstanding (Mil)4950-2.6%
Cumulative Contribution135.5%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2025 to 5/2/2026
ReturnCorrelation
PBYI135.5% 
Market (SPY)30.4%18.6%
Sector (XLV)5.2%23.5%

Fundamental Drivers

The 179.5% change in PBYI stock from 4/30/2023 to 5/2/2026 was primarily driven by a 1553134.1% change in the company's Net Income Margin (%).
(LTM values as of)43020235022026Change
Stock Price ($)2.687.49179.5%
Change Contribution By: 
Total Revenues ($ Mil)2282280.1%
Net Income Margin (%)0.0%13.6%1553134.1%
P/E Multiple61,407.812.1-100.0%
Shares Outstanding (Mil)4650-9.1%
Cumulative Contribution179.5%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2023 to 5/2/2026
ReturnCorrelation
PBYI179.5% 
Market (SPY)78.7%18.3%
Sector (XLV)14.3%19.4%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
PBYI Return-70%39%2%-30%95%26%-27%
Peers Return-7%32%41%-1%2%5%82%
S&P 500 Return27%-19%24%23%16%5%92%

Monthly Win Rates [3]
PBYI Win Rate33%33%58%50%58%75% 
Peers Win Rate42%67%58%50%67%40% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
PBYI Max Drawdown-72%-46%-48%-48%-10%-4% 
Peers Max Drawdown-25%0%-2%-3%-23%-10% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-7% 

[1] Cumulative total returns since the beginning of 2021
[2] Peers: VRTX, ALPS, AVLN, DFTX, EIKN.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/1/2026 (YTD)

How Low Can It Go

EventPBYIS&P 500
2024 Yen Carry Trade Unwind
  % Loss-12.8%-7.8%
  % Gain to Breakeven14.7%8.5%
  Time to Breakeven83 days18 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-37.5%-9.5%
  % Gain to Breakeven60.1%10.5%
  Time to Breakeven19 days24 days
2023 SVB Regional Banking Crisis
  % Loss-49.1%-6.7%
  % Gain to Breakeven96.4%7.1%
  Time to Breakeven246 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-48.6%-24.5%
  % Gain to Breakeven94.5%32.4%
  Time to Breakeven64 days427 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-56.9%-3.7%
  % Gain to Breakeven131.9%3.9%
  Time to Breakeven16 days6 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-62.9%-12.2%
  % Gain to Breakeven169.6%13.9%
  Time to Breakeven531 days62 days

Compare to VRTX, ALPS, AVLN, DFTX, EIKN

In The Past

Puma Biotechnology's stock fell -4.9% during the 2025 US Tariff Shock. Such a loss loss requires a 5.1% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventPBYIS&P 500
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-37.5%-9.5%
  % Gain to Breakeven60.1%10.5%
  Time to Breakeven19 days24 days
2023 SVB Regional Banking Crisis
  % Loss-49.1%-6.7%
  % Gain to Breakeven96.4%7.1%
  Time to Breakeven246 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-48.6%-24.5%
  % Gain to Breakeven94.5%32.4%
  Time to Breakeven64 days427 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-56.9%-3.7%
  % Gain to Breakeven131.9%3.9%
  Time to Breakeven16 days6 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-62.9%-12.2%
  % Gain to Breakeven169.6%13.9%
  Time to Breakeven531 days62 days

Compare to VRTX, ALPS, AVLN, DFTX, EIKN

In The Past

Puma Biotechnology's stock fell -4.9% during the 2025 US Tariff Shock. Such a loss loss requires a 5.1% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Puma Biotechnology (PBYI)

Puma Biotechnology, Inc., a biopharmaceutical company, focuses on the development and commercialization of products to enhance cancer care in the United States and internationally. The company's drug candidates include PB272 neratinib (oral) for the patients with early stage HER2-overexpressed/amplified breast cancer; PB272 (neratinib, oral) for the use of neratinib in combination with capecitabine for the treatment of adult patients with advanced or metastatic HER2-positive breast cancer; PB272 (neratinib, oral) for HER2 mutation-positive solid tumors. It has a license agreement with Pfizer, Inc.; and sub-license agreement with Specialised Therapeutics Asia Pte Ltd., CANbridge BIOMED Limited, Pint Pharma International SA, Knight Therapeutics, Inc., Pierre Fabre Medicament SAS, and Bixink Therapeutics Co., Ltd. The company was founded in 2010 and is headquartered in Los Angeles, California.

AI Analysis | Feedback

Here are a few brief analogies for Puma Biotechnology:

  • A specialized biotech company focused on developing and commercializing HER2-positive cancer treatments, much like a smaller, more focused Genentech.

  • A biopharmaceutical company dedicated to developing targeted cancer therapies, akin to a specialized version of Vertex Pharmaceuticals but for oncology.

AI Analysis | Feedback

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  • PB272 neratinib (oral): An oral drug candidate for patients with early-stage HER2-overexpressed/amplified breast cancer.
  • PB272 (neratinib, oral) in combination with capecitabine: An oral drug combination used to treat adult patients with advanced or metastatic HER2-positive breast cancer.
  • PB272 (neratinib, oral) for HER2 mutation-positive solid tumors: An oral drug candidate targeting solid tumors with HER2 mutations.
```

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Major Customers of Puma Biotechnology (PBYI)

Puma Biotechnology primarily sells its drug candidates through licensing agreements to other pharmaceutical companies, which then commercialize and distribute the products in specific territories. Based on the provided background, the company's major customers (or commercial partners via sub-licensing agreements) include:

  • Pfizer, Inc. (NYSE: PFE)
  • Specialised Therapeutics Asia Pte Ltd.
  • CANbridge BIOMED Limited
  • Pint Pharma International SA
  • Knight Therapeutics, Inc. (TSX: KHT)
  • Pierre Fabre Medicament SAS
  • Bixink Therapeutics Co., Ltd.

AI Analysis | Feedback

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Alan H. Auerbach, Chief Executive Officer, President and Chairman of the Board Mr. Auerbach has served as Puma Biotechnology's Chairman of the Board, Chief Executive Officer, and President since the company's inception. Prior to founding Puma, he was the Founder, Chief Executive Officer, President, and a Member of the Board of Directors of Cougar Biotechnology, Inc., from its inception in 2003 until its acquisition by Johnson & Johnson in July 2009 for approximately $1 billion. Following the acquisition, he served as Co-Chairman of the Integration Steering Committee at Cougar (as part of Johnson & Johnson) focusing on the development and global commercialization of abiraterone acetate. Before founding Cougar, Mr. Auerbach was Vice President, Senior Research Analyst at Wells Fargo Securities, covering small- and middle-capitalization biotechnology companies, and previously a Vice President, Research Analyst at Seidler Companies, Inc. Maximo F. Nougues, Chief Financial Officer Mr. Nougues joined Puma Biotechnology as Chief Financial Officer in November 2018. Prior to Puma, he worked for Getinge AB, a global medical device company, from January 2008 to October 2018, holding several leadership positions including regional chief financial officer for North America and the Americas. Before Getinge, Mr. Nougues held finance roles in Boston Scientific's cardiac surgery division (which Getinge acquired in 2008) and at The Clorox Company from 1998 to 2007. Douglas Hunt, Chief Regulatory Affairs, Medical Affairs, and Pharmacovigilance Officer Mr. Hunt joined Puma Biotechnology in January 2018 as Senior Vice President of Regulatory Affairs, Medical Writing and Project Management. He has over 25 years of regulatory affairs experience, including serving as Vice President Regulatory Affairs and Quality Assurance at ArmaGen Inc., and Vice President Global Regulatory Affairs (Bioscience) at Baxter International. Earlier in his career, he held various roles at Amgen, including Executive Director, Therapeutic Area Head (Oncology and Bone/Oncology) for Global Regulatory Affairs and Safety. Heather J. Blaber, Senior Vice President, Marketing Ms. Blaber joined Puma Biotechnology as Vice President of Marketing in June 2021 and currently serves as Senior Vice President, Marketing. She brings over 25 years of strategic marketing and sales leadership experience within the biopharmaceutical industry. Roger L. Storms, Senior Vice President of Sales Mr. Storms joined Puma Biotechnology in December 2024, bringing more than 20 years of commercial leadership experience in the biopharmaceutical industry. Before joining Puma, he spent 11 years at Amgen Biotechnology, where he held roles of increasing responsibility, most recently as Eastern U.S. Director of Sales, leading commercial efforts that generated over $3 billion in annual revenue.

AI Analysis | Feedback

Puma Biotechnology, Inc. (PBYI) faces several key risks inherent to its position as a biopharmaceutical company with a primary commercial product. Here are the key risks to Puma Biotechnology:

Heavy Reliance on a Single Commercial Product

Puma Biotechnology's business is predominantly dependent on the success and continued market performance of its single commercial product, NERLYNX (neratinib). Product revenue, which consists entirely of NERLYNX sales, contributed about 95.2% of the total revenue in Q3 2025. While the company is also developing alisertib, the core business's viability is tied directly to neratinib. Any significant challenges to neratinib, such as new competitive drugs, safety concerns leading to market withdrawal, or issues with market adoption, could severely impact the company's financial stability and future prospects.

Intense Competition in the Oncology Market

Puma Biotechnology operates in the highly competitive oncology market, particularly in HER2-positive breast cancer. The efficacy and market share of NERLYNX can be threatened by existing therapies and the continuous emergence of new, potentially more effective, safer, or cheaper treatments from competitors. For example, new novel agents in the adjuvant setting have been noted to lessen the need for extended adjuvant therapy, which is one of NERLYNX's indications. The introduction of other antibody-drug conjugates or other targeted therapies could intensify competitive pressure.

Patent Expiration and Generic Competition

Like all pharmaceutical companies, Puma Biotechnology faces the risk of patent expiration for its key drug, NERLYNX. The primary patent for the composition of matter claims for NERLYNX was extended to expire on December 29, 2030, following a Patent Term Extension Certificate issued by the USPTO. Other patents protecting the drug have various expiration dates, with some expiring as early as October 2025, and a key patent (U.S. Patent No. 8,518,446) set to expire on November 20, 2030. Generic entry for neratinib maleate, the active ingredient in NERLYNX, could occur as early as December 29, 2030, which may change due to patent challenges or generic licensing. There has already been patent litigation involving NERLYNX patents, indicating interest in generic launches. The loss of patent exclusivity will expose NERLYNX to generic competition, which typically leads to a significant decline in revenue and market share.

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Puma Biotechnology's main product, neratinib (PB272), addresses the following markets:

  • Early-stage HER2-overexpressed/amplified breast cancer: The global neratinib market, which is primarily indicated for the extended adjuvant treatment of early-stage HER2-positive breast cancer, was valued at approximately USD 1.3 billion in 2023. It is projected to reach USD 3.8 billion by 2032, demonstrating a compound annual growth rate (CAGR) of 12.7% during the forecast period.

  • Advanced or metastatic HER2-positive breast cancer (in combination with capecitabine): The market for metastatic HER2-positive breast cancer in the seven major markets (7MM: United States, Germany, France, the United Kingdom, Italy, Spain, and Japan) was estimated at approximately USD 2.6 billion in 2022 and is expected to grow by 2032. More recently, the 7MM market amounted to USD 2,711.6 million in 2024 and is projected to reach USD 3,108.1 million by 2035. Specifically, in 2023, the HER2-positive breast cancer market in the United States was valued at over USD 1,600 million, with projections for continued growth by 2034. The market size for HER2-positive breast cancer in EU4 and the UK (Germany, France, Italy, Spain, and the United Kingdom) in 2023 exceeded USD 800 million, with expectations of an increase during the period of 2020–2034.

  • HER2 mutation-positive solid tumors: Information regarding a specific addressable market size for neratinib for HER2 mutation-positive solid tumors (as a broad category beyond breast cancer) is not available in the provided search results.

AI Analysis | Feedback

Puma Biotechnology (PBYI) anticipates several key drivers for future revenue growth over the next 2-3 years, primarily stemming from its flagship product, Nerlynx (neratinib), and its developing pipeline.

  1. Continued Growth in Nerlynx Net Product Sales: Puma Biotechnology expects stable to increasing net product revenue from Nerlynx. In the fourth quarter of 2025, product revenue from Nerlynx increased by nearly 10% year-over-year. For the full year 2026, the company projects net product revenues for Nerlynx to be between $194 million and $198 million. Efforts to manage Nerlynx's side effects, such as implementing a dose escalation strategy where 75% of new patients start on a reduced dose, are expected to improve patient retention and adherence, further supporting sales.

  2. Expansion of Royalty Revenues from International Partnerships: Royalty revenues from ex-U.S. partners, particularly from shipments to China, are a significant growth driver. These revenues experienced a substantial increase to $15.6 million in Q4 2025, up from $2.6 million in Q3 2025. Puma forecasts royalty revenues for 2026 to range from $20 million to $23 million, indicating continued growth from its global collaborations.

  3. Advancement and Potential Commercialization of Alisertib: The progression of Puma Biotechnology's pipeline asset, alisertib, represents a potential new revenue stream. The company in-licensed alisertib for the treatment of hormone receptor-positive breast cancer and small-cell lung cancer (SCLC). Enrollment in the Phase II trials for alisertib has surpassed expectations, with 150 patients enrolled by February 2026, and interim data is anticipated in the second quarter of 2026. A successful outcome from these trials and subsequent regulatory approvals could lead to the launch of a new product, diversifying and enhancing Puma's revenue.

  4. Strategic International Market Penetration for Nerlynx: Beyond existing royalty agreements, Puma Biotechnology is focused on increasing the market penetration of Nerlynx through strategic partnerships for distribution in international markets. The company has established collaborations for Nerlynx distribution outside the U.S., targeting a significant patient population globally. This ongoing expansion into new territories through these partnerships is expected to contribute to overall revenue growth.

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Share Issuance

  • The number of outstanding shares for Puma Biotechnology consistently increased from approximately 40.99 million at the end of 2021 to 50.33 million at the end of 2025.
  • This growth reflects the issuance of approximately 9.34 million new shares over the five-year period from 2021 to 2025.
  • The approximate dollar value of shares issued annually, based on the increase in outstanding shares and average yearly stock prices, ranged from approximately $4.95 million (2024-2025) to $13.78 million (2021-2022).

Capital Expenditures

  • Puma Biotechnology reported purchases of property, plant and equipment totaling $36,000 in the fourth quarter of 2025.

Better Bets vs. Puma Biotechnology (PBYI)

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Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
GEHC_4302026_Dip_Buyer_FCFYield04302026GEHCGE HealthCare TechnologiesDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		0.0%0.0%0.0%
IQV_4302026_Dip_Buyer_FCFYield04302026IQVIQVIADip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		0.0%0.0%0.0%
UHS_4302026_Dip_Buyer_FCFYield04302026UHSUniversal Health ServicesDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		0.0%0.0%0.0%
ABT_4302026_Dip_Buyer_ValueBuy04302026ABTAbbott LaboratoriesDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		0.0%0.0%0.0%
ZBIO_4302026_Insider_Buying_45D_2Buy_200K04302026ZBIOZenas BioPharmaInsiderInsider Buys 45DStrong Insider Buying
Companies with multiple insider buys in the last 45 days		0.0%0.0%0.0%

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Peer Comparisons

Peers to compare with:

Financials

PBYIVRTXALPSAVLNDFTXEIKNMedian
NamePuma Bio.Vertex P.ALPS Avalyn P.Definium.Eikon Th. 
Mkt Price7.49423.920.9129.8421.709.6815.69
Mkt Cap0.4107.5----53.9
Rev LTM22812,001--0-228
Op Inc LTM374,554---166-37
FCF LTM423,194---132-42
FCF 3Y Avg321,832---92-32
CFO LTM423,631---132-42
CFO 3Y Avg362,225---92-36

Growth & Margins

PBYIVRTXALPSAVLNDFTXEIKNMedian
NamePuma Bio.Vertex P.ALPS Avalyn P.Definium.Eikon Th. 
Rev Chg LTM-0.9%8.9%----4.0%
Rev Chg 3Y Avg0.1%10.4%----5.2%
Rev Chg Q27.7%9.5%----18.6%
QoQ Delta Rev Chg LTM7.7%2.4%----5.0%
Op Inc Chg LTM20.5%2,051.3%---60.0%-20.5%
Op Inc Chg 3Y Avg7.2%644.7%---37.4%-7.2%
Op Mgn LTM16.3%37.9%----27.1%
Op Mgn 3Y Avg14.5%24.7%----19.6%
QoQ Delta Op Mgn LTM0.5%38.7%----19.6%
CFO/Rev LTM18.3%30.3%----24.3%
CFO/Rev 3Y Avg15.6%20.5%----18.0%
FCF/Rev LTM18.3%26.6%----22.4%
FCF/Rev 3Y Avg13.7%17.0%----15.4%

Valuation

PBYIVRTXALPSAVLNDFTXEIKNMedian
NamePuma Bio.Vertex P.ALPS Avalyn P.Definium.Eikon Th. 
Mkt Cap0.4107.5----53.9
P/S1.79.0----5.3
P/Op Inc10.123.6----16.9
P/EBIT8.923.1----16.0
P/E12.127.2----19.7
P/CFO9.029.6----19.3
Total Yield8.2%3.7%----6.0%
Dividend Yield0.0%0.0%----0.0%
FCF Yield 3Y Avg15.6%1.7%----8.6%
D/E0.10.0----0.0
Net D/E-0.2-0.0-----0.1

Returns

PBYIVRTXALPSAVLNDFTXEIKNMedian
NamePuma Bio.Vertex P.ALPS Avalyn P.Definium.Eikon Th. 
1M Rtn8.6%-3.4%-9.9%1.2%4.9%-2.2%-0.5%
3M Rtn15.6%-9.8%-6.2%1.2%28.6%-35.5%-2.5%
6M Rtn46.9%-0.4%-4.2%1.2%60.6%-35.5%0.4%
12M Rtn133.3%-15.4%-4.2%1.2%60.6%-35.5%-1.5%
3Y Rtn184.8%22.4%-4.2%1.2%60.6%-35.5%11.8%
1M Excs Rtn0.8%-15.2%-19.9%-8.8%-4.6%-13.9%-11.3%
3M Excs Rtn11.4%-14.0%-10.4%-3.0%24.4%-39.7%-6.7%
6M Excs Rtn40.2%-3.3%-9.1%-3.7%55.7%-40.4%-3.5%
12M Excs Rtn105.7%-46.6%-34.0%-28.6%30.8%-65.3%-31.3%
3Y Excs Rtn109.8%-47.1%-82.4%-77.1%-17.6%-113.7%-62.1%

Comparison Analyses

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FDA Approved Drugs Data

Expand for More
Post-Approval Fwd Returns
FDA
App #		Brand
Name		Generic
Name		Dosage
Form		FDA
Approval		3M
Rtn		6M
Rtn		1Y
Rtn		2Y
Rtn		Total
Rtn
NDA208051  NERLYNXneratinib maleatetablet717201744.2%15.3%-39.0%-87.8%-91.3%

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Development and commercialization of innovative products to enhance cancer care236    
License revenue 0522360
Product revenue, net 200189197212
Royalty revenue 281260
Total236228253225272


Price Behavior

Price Behavior
Market Price$7.49 
Market Cap ($ Bil)0.4 
First Trading Date04/20/2012 
Distance from 52W High-4.0% 
   50 Days200 Days
DMA Price$6.81$5.64
DMA Trendupup
Distance from DMA10.0%32.8%
 3M1YR
Volatility69.5%72.7%
Downside Capture1.460.48
Upside Capture257.53165.54
Correlation (SPY)36.8%19.2%
PBYI Betas & Captures as of 4/30/2026

 1M2M3M6M1Y3Y
Beta1.991.741.700.771.080.87
Up Beta2.021.061.19-0.030.950.59
Down Beta1.411.140.19-0.070.700.56
Up Capture183%315%313%206%234%222%
Bmk +ve Days15223166141428
Stock +ve Days11223567134374
Down Capture265%148%189%95%92%104%
Bmk -ve Days4183056108321
Stock -ve Days10202755112358

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with PBYI
PBYI137.7%72.7%1.50-
Sector ETF (XLV)5.2%16.0%0.1323.5%
Equity (SPY)30.6%12.5%1.8818.5%
Gold (GLD)39.5%27.2%1.201.7%
Commodities (DBC)51.5%17.9%2.20-13.0%
Real Estate (VNQ)13.1%13.5%0.6723.3%
Bitcoin (BTCUSD)-17.1%42.2%-0.3311.2%

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Based On 5-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with PBYI
PBYI-6.2%75.9%0.25-
Sector ETF (XLV)5.0%14.6%0.1721.0%
Equity (SPY)12.8%17.1%0.5922.1%
Gold (GLD)20.5%17.9%0.941.9%
Commodities (DBC)14.3%19.1%0.611.6%
Real Estate (VNQ)3.5%18.8%0.0918.4%
Bitcoin (BTCUSD)7.7%56.2%0.3515.5%

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Based On 10-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with PBYI
PBYI-14.0%81.2%0.19-
Sector ETF (XLV)9.1%16.5%0.4527.4%
Equity (SPY)14.9%17.9%0.7126.2%
Gold (GLD)13.6%15.9%0.71-0.6%
Commodities (DBC)9.7%17.7%0.468.6%
Real Estate (VNQ)5.7%20.7%0.2418.0%
Bitcoin (BTCUSD)67.7%66.9%1.0711.0%

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Short Interest

Short Interest: As Of Date4152026
Short Interest: Shares Quantity4.2 Mil
Short Interest: % Change Since 33120265.6%
Average Daily Volume0.3 Mil
Days-to-Cover Short Interest12.6 days
Basic Shares Quantity50.4 Mil
Short % of Basic Shares8.2%

Returns Analyses

Earnings Returns History

Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
11/6/202522.2%1.0%12.7%
8/7/202512.2%61.7%38.6%
5/8/2025-5.2%6.8%17.3%
2/27/202519.7%20.9%5.0%
11/7/2024-5.0%-1.3%-3.6%
8/1/20249.4%9.4%-28.6%
2/29/2024-5.3%-7.6%-15.1%
11/2/202311.6%32.9%52.6%
...
SUMMARY STATS   
# Positive121512
# Negative969
Median Positive11.9%9.4%18.2%
Median Negative-5.3%-17.9%-21.1%
Max Positive26.6%61.7%101.4%
Max Negative-37.2%-45.2%-53.7%

SEC Filings

Expand for More
Report DateFiling DateFiling
12/31/202502/26/202610-K
09/30/202511/06/202510-Q
06/30/202508/07/202510-Q
03/31/202505/08/202510-Q
12/31/202402/27/202510-K
09/30/202411/07/202410-Q
06/30/202408/01/202410-Q
03/31/202405/02/202410-Q
12/31/202302/29/202410-K
09/30/202311/02/202310-Q
06/30/202308/03/202310-Q
03/31/202305/04/202310-Q
12/31/202203/02/202310-K
09/30/202211/03/202210-Q
06/30/202208/04/202210-Q
03/31/202205/05/202210-Q

Recent Forward Guidance [BETA]

Latest: Q3 2025 Earnings Reported 11/6/2025

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q4 2025 Net Product Revenue54.00 Mil55.00 Mil56.00 Mil   
Q4 2025 Royalty Revenue13.00 Mil13.50 Mil14.00 Mil   
Q4 2025 Total Revenue67.00 Mil68.50 Mil70.00 Mil   
Q4 2025 Net Income9.00 Mil10.00 Mil11.00 Mil   
2025 Net Product Revenue198.00 Mil199.00 Mil200.00 Mil2.0% RaisedGuidance: 195.00 Mil for 2025
2025 Royalty Revenue22.00 Mil22.50 Mil23.00 Mil2.3% RaisedGuidance: 22.00 Mil for 2025
2025 Total Revenue220.00 Mil221.50 Mil223.00 Mil2.1% RaisedGuidance: 217.00 Mil for 2025
2025 Net Income27.00 Mil28.00 Mil29.00 Mil9.8% RaisedGuidance: 25.50 Mil for 2025

Prior: Q2 2025 Earnings Reported 8/7/2025

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q3 2025 Net Product Revenue46.00 Mil47.00 Mil48.00 Mil-4.1% LoweredGuidance: 49.00 Mil for Q2 2025
Q3 2025 Royalty Revenue2.00 Mil2.50 Mil3.00 Mil0 AffirmedGuidance: 2.50 Mil for Q2 2025
Q3 2025 Total Revenue48.00 Mil49.50 Mil51.00 Mil   
Q3 2025 Net Income2.00 Mil3.00 Mil4.00 Mil-40.0% LoweredGuidance: 5.00 Mil for Q2 2025
2025 Net Product Revenue192.00 Mil195.00 Mil198.00 Mil0 AffirmedGuidance: 195.00 Mil for 2025
2025 Royalty Revenue20.00 Mil22.00 Mil24.00 Mil0 AffirmedGuidance: 22.00 Mil for 2025
2025 Total Revenue212.00 Mil217.00 Mil222.00 Mil   
2025 Net Income23.00 Mil25.50 Mil28.00 Mil0 AffirmedGuidance: 25.50 Mil for 2025

Insider Activity

Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value		Value of
Held Shares		Form
1Miller, Michael Patrick DirectSell111320254.8620,00097,228262,516Form
2Cesano, Alessandra DirectSell72220253.3727,00090,909140,909Form
3Nougues, Maximo FChief Financial OfficerDirectSell71020253.543,93513,910721,950Form
4Hunt, Douglas MSee RemarksDirectSell71020253.543,44312,171582,900Form
5Auerbach, Alan HPresident and CEODirectSell71020253.5421,58076,28525,384,485Form

Industry Resources

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