PUMA BIOTECHNOLOGY, INC.
PBYI · Pharmaceutical Preparations · 50.9M shares · +6%/yr ↑ shares · EDGAR filings ↗
Net buyback after stock comp: -$10M (gross $40K, SBC $10M)
Reference price $7.20 · est. market cap ~$366M — last insider sale, 2026-06-12 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B76Profitable single-product oncology commercial company with top-decile returns but flat-to-declining sales and concentration risk.
Strengths
- Top-decile ROA (14.4%, 94th pct) and high ROE (23.9%, 82nd pct); net margin 13.6% (85th pct) and positive FCF $41.7M (85th pct)
- Zero financial debt-to-equity and FDA-approved NERLYNX with the validating ExteNET Phase 3 (HR 0.66, p=0.008)
Risks
- Revenue declining (-0.9%, 33rd pct) on a single mature product; tight liquidity (current ratio 26th pct) and Athyrium note covenants
- Customer concentration and early-stage alisertib pipeline; NALA Phase 3 met PFS but missed the OS co-primary
Notable findings
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Revenue declineRevenue -40.6% YoY
- Notable holderHeld by 5 notable fund(s): RENAISSANCE TECHNOLOGIES LLC, STATE STREET CORP, GOLDMAN SACHS GROUP INC +2 more (as of 2026-03-31)
- Insider sellingInsider selling — 11 open-market sale(s) by 8 insider(s) (cluster of 8 insiders, ~$894,506, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
74.5%
Operating margin
16.3%
Net margin
13.6%
Return on equity
23.9%
Return on assets
14.4%
ROIC
22.6%
Revenue growth (QoQ)
-40.6%
Net-income growth
2.8%
Debt / equity
0.0×
Net debt / EBITDA
-1.9×
Current ratio
2.0×
Free cash flow
$42M
EBITDA
$48M
Tangible book value
$89M
Cash & investments
$92M
Stock comp / revenue
3.0%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-12 | Dorval Allison | Sell | 12K | $7.20 |
| 2026-06-12 | WILSON TROY EDWARD | Sell | 11K | $7.20 |
| 2026-06-12 | Stuglik Brian M | Sell | 8.1K | $7.20 |
| 2026-06-12 | Senderowicz Adrian | Sell | 27K | $7.20 |
| 2026-06-12 | MOYES JAY M | Sell | 22K | $7.22 |
| 2026-06-11 | Senderowicz Adrian | Grant | 27K | — |
| 2026-06-11 | Dorval Allison | Grant | 27K | — |
| 2026-06-11 | MILLER MICHAEL PATRICK | Grant | 27K | — |
| 2026-06-11 | WILSON TROY EDWARD | Grant | 27K | — |
| 2026-06-11 | MOYES JAY M | Grant | 27K | — |
| 2026-06-11 | Stuglik Brian M | Grant | 27K | — |
| 2026-06-11 | Cesano Alessandra | Grant | 27K | — |
| 2026-02-18 | HUNT DOUGLAS M | Grant | 49K | — |
| 2026-02-18 | AUERBACH ALAN H | Grant | 160K | — |
| 2026-02-18 | NOUGUES MAXIMO F | Grant | 47K | — |
| 2026-01-07 | NOUGUES MAXIMO F | Sell | 6.4K | $5.88 |
| 2026-01-07 | AUERBACH ALAN H | Sell | 18K | $5.88 |
| 2026-01-07 | HUNT DOUGLAS M | Sell | 5.0K | $5.88 |
| 2026-01-06 | HUNT DOUGLAS M | Sell | 4.0K | $5.84 |
| 2026-01-06 | AUERBACH ALAN H | Sell | 17K | $5.84 |
| 2026-01-06 | NOUGUES MAXIMO F | Sell | 4.5K | $5.84 |
| 2025-11-11 | MILLER MICHAEL PATRICK | Sell | 20K | $4.86 |
| 2025-07-18 | Cesano Alessandra | Sell | 27K | $3.37 |
| 2025-07-09 | NOUGUES MAXIMO F | Sell | 3.9K | $3.54 |
| 2025-07-09 | HUNT DOUGLAS M | Sell | 3.4K | $3.54 |
| 2025-07-09 | AUERBACH ALAN H | Sell | 22K | $3.54 |
| 2025-07-08 | NOUGUES MAXIMO F | Sell | 5.6K | $3.53 |
| 2025-07-08 | HUNT DOUGLAS M | Sell | 4.4K | $3.53 |
| 2025-07-08 | AUERBACH ALAN H | Sell | 26K | $3.53 |
| 2025-06-13 | Senderowicz Adrian | Sell | 27K | $3.40 |
| 2025-06-13 | MOYES JAY M | Sell | 22K | $3.40 |
| 2025-06-13 | Cesano Alessandra | Sell | 12K | $3.40 |
| 2025-06-13 | Dorval Allison | Sell | 12K | $3.40 |
| 2025-06-13 | WILSON TROY EDWARD | Sell | 11K | $3.40 |
| 2025-06-13 | Stuglik Brian M | Sell | 8.1K | $3.39 |
| 2025-06-11 | MOYES JAY M | Grant | 27K | — |
| 2025-06-11 | MILLER MICHAEL PATRICK | Grant | 27K | — |
| 2025-06-11 | Senderowicz Adrian | Grant | 27K | — |
| 2025-06-11 | Dorval Allison | Grant | 27K | — |
| 2025-06-11 | Stuglik Brian M | Grant | 27K | — |
| 2025-06-11 | WILSON TROY EDWARD | Grant | 27K | — |
| 2025-06-11 | Cesano Alessandra | Grant | 27K | — |
| 2025-02-07 | NOUGUES MAXIMO F | Grant | 61K | — |
| 2025-02-07 | Ludwig Jeffrey Jerome | Grant | 48K | — |
| 2025-02-07 | HUNT DOUGLAS M | Grant | 48K | — |
| 2025-02-07 | AUERBACH ALAN H | Grant | 198K | — |
| 2025-01-02 | NOUGUES MAXIMO F | Sell | 10K | $3.15 |
| 2025-01-02 | Ludwig Jeffrey Jerome | Sell | 9.4K | $3.15 |
| 2025-01-02 | AUERBACH ALAN H | Sell | 34K | $3.15 |
| 2025-01-02 | HUNT DOUGLAS M | Sell | 8.6K | $3.15 |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT06095505 ↗ | A Study of Alisertib in Patients With Extensive Stage Small Cell Lung Cancer Small Cell Lung Cancer | PHASE2 | Recruiting | 2027-10-30 |
| NCT06369285 ↗ | A Study of Alisertib in Combination With Endocrine Therapy in Patients With HR-positive, HER2-negative Recurrent or Metastatic Breast Cancer Hormone Receptor Positive HER-2 Negative Breast Cancer, Metastatic Breast Cancer | PHASE2 | Recruiting | 2027-06-30 |
| NCT07465757 ↗ | A Study of Alisertib and Paclitaxel in Patients With Small Cell Lung Cancer (SCLC) Small Cell Lung Cancer ( SCLC ) | PHASE2 | Not Yet Recruiting | 2028-03-31 |
| NCT01953926 ↗ | Basket Study of Neratinib in Participants With Solid Tumors Harboring Somatic HER2 or EGFR Exon 18 Mutations Solid Tumors Harboring Somatic HER2 or EGFR Exon 18 Mutations | PHASE2 | Terminated | 2023-01-02 |
| NCT04366713 ↗ | A Study to Characterize Colon Pathology in Patients With HER2 Amplified Breast Cancer Treated With Neratinib HER2 Amplified Breast Cancer | PHASE2 | Completed | 2021-12-28 |
| NCT02400476 ↗ | An Open-Label Study to Characterize the Incidence and Severity of Diarrhea in Patients With Early-Stage HER2+ Breast Cancer Treated With Neratinib and Loperamide Early Stage HER2+ Breast Cancer | PHASE2 | Completed | 2021-04-22 |
| NCT03786107 ↗ | HER-Seq: A Blood-based Screening Study to Identify Patients With HER2 Mutations for Enrollment Into Clinical Research Studies of Neratinib Hormone Receptor-Positive, HER2-Negative Metastatic Breast Cancer, Metastatic Cervical Cancer | — | Terminated | 2021-01-21 |
| NCT01808573 ↗ | A Study of Neratinib Plus Capecitabine Versus Lapatinib Plus Capecitabine in Patients With HER2+ Metastatic Breast Cancer Who Have Received Two or More Prior HER2 Directed Regimens in the Metastatic Setting HER2+ Metastatic Breast Cancer (MBC) | PHASE3 | Completed | 2018-09-28 |
| NCT01827267 ↗ | Neratinib With and Without Temsirolimus for Patients With HER2 Activating Mutations in Non-Small Cell Lung Cancer HER2-mutant Non-Small Cell Lung Cancer | PHASE2 | Completed | 2016-09-20 |
| NCT01111825 ↗ | Temsirolimus Plus Neratinib for Patients With Metastatic HER2-Amplified or Triple Negative Breast Cancer Breast Cancer | PHASE1/PHASE2 | Completed | 2016-07-01 |
| NCT02334501 ↗ | Open-label PK Study to Evaluate Lansoprazole and Neratinib in Healthy Subjects Healthy | PHASE1 | Completed | 2014-10-01 |
| NCT00878709 ↗ | Study Evaluating The Effects Of Neratinib After Adjuvant Trastuzumab In Women With Early Stage Breast Cancer Breast Cancer | PHASE3 | Completed | 2014-08-21 |
| NCT00915018 ↗ | Study Evaluating Neratinib Plus Paclitaxel VS Trastuzumab Plus Paclitaxel In ErbB-2 Positive Advanced Breast Cancer Breast Cancer | PHASE2 | Completed | 2013-08-01 |
| NCT00932464 ↗ | Study Evaluating The Effect Of A High-Fat Meal On The Pharmacokinetics Of Neratinib Healthy | PHASE1 | Withdrawn | 2012-08-01 |
| NCT00838539 ↗ | Study Evaluating Neratinib In Combination With Temsirolimus In Subjects With Solid Tumors Neoplasms, Malignant Carcinoma | PHASE1 | Completed | 2011-06-01 |
| NCT00445458 ↗ | A Phase 1/2 Study of HKI-272 (Neratinib) in Combination With Paclitaxel (Taxol) in Subjects With Solid Tumors and Breast Cancer Advanced Breast Cancer, Advanced Malignant Solid Tumors | PHASE1/PHASE2 | Completed | 2011-05-01 |
| NCT01128842 ↗ | A Study Of Neratinib (HKI-272) And Capecitabine In Japanese With Solid Tumor Advanced Malignant Solid Tumors | PHASE1 | Completed | 2011-03-01 |
| NCT00777101 ↗ | Study Evaluating Neratinib Versus Lapatinib Plus Capecitabine For ErbB2 Positive Advanced Breast Cancer Advanced Breast Cancer, Breast Cancer | PHASE2 | Completed | 2011-03-01 |
| NCT00768469 ↗ | Study Evaluating Safety And Tolerability, Solid Tumor Advanced Malignant Solid Tumors | PHASE1 | Completed | 2011-01-01 |
| NCT00741260 ↗ | Study Evaluating The Combination Of Neratinib And Capecitabine In Solid Tumors And Breast Cancer Breast Cancer | PHASE1/PHASE2 | Completed | 2010-11-01 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-16 | 2026-06-11 | 0001437749-26-020793 ↗ |
| 8-K | 2026-05-07 | 2026-05-07 | 0001437749-26-015621 ↗ |
| 10-Q | 2026-05-07 | 2026-03-31 | 0001437749-26-015633 ↗ |
| 10-K | 2026-02-26 | 2025-12-31 | 0001437749-26-005891 ↗ |
| 8-K | 2026-02-26 | 2026-02-26 | 0001437749-26-005869 ↗ |
| 8-K | 2025-11-06 | 2025-11-06 | 0001437749-25-033604 ↗ |
| 10-Q | 2025-11-06 | 2025-09-30 | 0001437749-25-033633 ↗ |
| 10-Q | 2025-08-07 | 2025-06-30 | 0001437749-25-025470 ↗ |
| 8-K | 2025-08-07 | 2025-08-07 | 0001437749-25-025463 ↗ |
| 10-Q/A | 2025-08-07 | 2025-03-31 | 0001437749-25-025214 ↗ |
| 8-K | 2025-06-24 | 2025-06-19 | 0001437749-25-021153 ↗ |
| 8-K | 2025-06-13 | 2025-06-11 | 0001437749-25-020321 ↗ |