PUMA BIOTECHNOLOGY (PBYI) saw its loss widen to $72.70 million, or $2.04 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $61.70 million, or $1.90 a share. On the other hand, adjusted net loss for the quarter widened to $43.40 million, or $1.22 a share from a loss of $40 million or $1.23 a share, a year ago. The company has not recorded any revenues for the current as well as previous quarter.
Operating loss for the quarter was $72.90 million, compared with an operating loss of $62.10 million in the previous year period.
"We made significant progress with the neratinib clinical program during the fourth quarter," said Alan H. Auerbach, chairman, chief executive officer and president of Puma. "We presented additional results of several ongoing studies at the 2016 San Antonio Breast Cancer Symposium, including our Phase II CONTROL trial of PB272 in the extended adjuvant treatment of HER2-positive early stage breast cancer; a biomarker analysis of the NSABP FB-7 Phase II trial for the neoadjuvant treatment of HER2-positive locally advanced breast cancer; and the Phase II SUMMIT trial of PB272 for ERBB2 (HER2) mutant, HER2 non-amplified metastatic breast cancer. We also initiated a Managed Access Program for PB272 (neratinib) outside the United States, providing physicians and patients access to PB272 when there are limited or no other therapeutic options available."
Operating cash flow remains negativePUMA BIOTECHNOLOGY has spent $141.70 million cash to meet operating activities during the year as against cash outgo of $154.50 million in the last year. Cash flow from investing activities was $142.20 million from investing activities during the year as against cash outgo of $85.90 million in the last year.
Cash flow from financing activities was $162.40 million for the year, down 30.42 percent or $71 million, when compared with the last year.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
