Puma's Nerlynx sales edge up, but profit slips as payer mix and R&D weigh

Puma Biotechnology's third-quarter results, published on 5 November, show a commercial product still growing while profit moves the other way. Net revenue from Nerlynx was $54.1M, compared with $51.9M in the prior comparison figure given by the company. Total revenue was $55.1M.

Net income fell to $6.0M from $8.8M. Puma pointed to two causes: larger deductions from sales through Medicaid and 340B, and a heavier research and development bill. As general context, both programmes involve mandated or negotiated price concessions, so a shift in sales towards those channels can trim what a company keeps from each prescription.

Even so, Puma raised its 2026 net income guidance. The material available to us does not state the new figures or the range they replace, so the size of the increase cannot be assessed here.

On the pipeline, the company has begun ALISCA-Lung2, a Phase II study of alisertib combined with paclitaxel in small cell lung cancer. Puma also expects to discuss a Phase III design for alisertib in breast cancer with regulators in the first half of 2027. No trial timelines, enrolment figures or cost estimates were included in the summary of the announcement.