$PBYI
PUMA BIOTECHNOLOGY, INC.

2013 Q3 Form 10-Q Financial Statement

#000119312513321498 Filed on August 06, 2013

View on sec.gov

Income Statement

Concept 2013 Q3 2013 Q2 2012 Q2
Revenue
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.260M $2.270M $1.770M
YoY Change -72.06% 28.25% 5800.0%
% of Gross Profit
Research & Development $12.07M $10.44M $13.01M
YoY Change -32.12% -19.73%
% of Gross Profit
Depreciation & Amortization $110.0K $100.0K $70.00K
YoY Change 57.14% 42.86%
% of Gross Profit
Operating Expenses $14.33M $12.71M $14.78M
YoY Change -44.61% -14.01% 43025.64%
Operating Profit -$14.33M -$12.71M -$14.78M
YoY Change -44.61% -14.01% 43025.64%
Interest Expense $10.00K $100.0K $20.00K
YoY Change 0.0% 400.0%
% of Operating Profit
Other Income/Expense, Net $48.00K $57.00K $23.00K
YoY Change 242.86% 147.83%
Pretax Income -$14.28M -$12.65M -$14.75M
YoY Change -44.78% -14.24% 49066.67%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$14.28M -$12.65M -$14.75M
YoY Change -44.77% -14.26% 42958.51%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$497.9K -$441.1K -$736.0K
COMMON SHARES
Basic Shares Outstanding 28.68M shares 28.68M shares 20.04M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2013 Q3 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $95.60M $107.5M $41.00M
YoY Change 187.09% 162.2%
Cash & Equivalents $51.26M $60.90M $41.00M
Short-Term Investments $44.40M $46.60M
Other Short-Term Assets $3.600M $1.100M $800.0K
YoY Change 350.0% 37.5%
Inventory
Prepaid Expenses
Receivables $11.30M $14.80M
Other Receivables $11.29M $14.77M
Total Short-Term Assets $110.6M $123.4M $41.83M
YoY Change 224.11% 195.11%
LONG-TERM ASSETS
Property, Plant & Equipment $1.619M $1.648M $1.228M
YoY Change 38.5% 34.2%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.900M $2.900M $1.400M
YoY Change 141.67% 107.14%
Total Long-Term Assets $4.533M $4.547M $2.608M
YoY Change 90.4% 74.32%
TOTAL ASSETS
Total Short-Term Assets $110.6M $123.4M $41.83M
Total Long-Term Assets $4.533M $4.547M $2.608M
Total Assets $115.1M $128.0M $44.44M
YoY Change 215.39% 188.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.730M $7.624M $2.410M
YoY Change 855.75% 216.35%
Accrued Expenses $9.496M $12.20M $13.13M
YoY Change -62.97% -7.1%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $19.23M $19.82M $15.54M
YoY Change -27.88% 27.55%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.100M $1.100M $900.0K
YoY Change 37.5% 22.22%
Total Long-Term Liabilities $1.100M $1.100M $900.0K
YoY Change 37.5% 22.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $19.23M $19.82M $15.54M
Total Long-Term Liabilities $1.100M $1.100M $900.0K
Total Liabilities $20.35M $20.96M $16.40M
YoY Change -25.99% 27.82%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $218.1M $216.1M $64.86M
YoY Change 204.22% 233.21%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $94.76M $107.0M $28.04M
YoY Change
Total Liabilities & Shareholders Equity $115.1M $128.0M $44.44M
YoY Change 215.39% 188.02%

Cashflow Statement

Concept 2013 Q3 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income -$14.28M -$12.65M -$14.75M
YoY Change -44.77% -14.26% 42958.51%
Depreciation, Depletion And Amortization $110.0K $100.0K $70.00K
YoY Change 57.14% 42.86%
Cash From Operating Activities -$12.00M -$11.00M -$8.774M
YoY Change 57.07% 25.36% 21835.95%
INVESTING ACTIVITIES
Capital Expenditures -$80.00K -$180.0K -$240.0K
YoY Change 700.0% -25.0%
Acquisitions
YoY Change
Other Investing Activities $2.300M -$19.59M -$160.0K
YoY Change 12143.75%
Cash From Investing Activities $2.230M -$19.77M -$400.0K
YoY Change -22400.0% 4842.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 150.0K 0.000 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -12.00M -11.00M -8.774M
Cash From Investing Activities 2.230M -19.77M -400.0K
Cash From Financing Activities 150.0K 0.000 0.000
Net Change In Cash -12.00M -11.00M -8.774M
YoY Change 56.86% 25.36%
FREE CASH FLOW
Cash From Operating Activities -$12.00M -$11.00M -$8.774M
Capital Expenditures -$80.00K -$180.0K -$240.0K
Free Cash Flow -$11.92M -$10.82M -$8.534M
YoY Change 56.23% 26.78% 21235.95%

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dei Trading Symbol
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dei Entity Registrant Name
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PUMA BIOTECHNOLOGY, INC.
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<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Concentration of Risk:</b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">Financial instruments, which potentially subject the Company to concentrations of credit risk, principally consist of cash and cash equivalents. The Company&#x2019;s cash and cash equivalents in excess of the Federal Deposit Insurance Corporation and the Securities Investor Protection Corporation insured limits at June 30, 2013, were approximately $61.9 million. The Company does not believe it is exposed to any significant credit risk.</font></p> </div>
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<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Reclassifications:</b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">Certain amounts for 2012 have been reclassified to conform to the current year&#x2019;s presentation.</font></p> </div>
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<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Use of Estimates:</b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the balance sheet and reported amounts of expenses for the period presented. Accordingly, actual results could differ from those estimates. Significant estimates include the cost of services provided by consultants who manage clinical trials and conduct research and clinical trials on behalf of the Company that are billed on a delayed basis. As the actual costs become known, the Company adjusts its estimated cost in that period. The value of stock-based compensation includes estimates based on future events which are difficult to predict. It is at least reasonably possible that a change in the estimates will occur in the near term.</font></p> </div>
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pbyi Marketable Securities Maturity Period
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pbyi Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Remaining Contractual Term
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ShareBasedCompensationEffectOnEarningsPerShareBasicAndDiluted
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pbyi Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period Intrinsic Value
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pbyi Increase Decrease In Prepaid Expense And Other Assets
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us-gaap General And Administrative Expense
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CY2011Q3 us-gaap Noncash Or Part Noncash Acquisition Noncash Financial Or Equity Instrument Consideration Shares Issued1
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pbyi Increase Decrease In Prepaid Expense And Other Assets
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pbyi Increase Decrease In Deferred Rent
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us-gaap Increase Decrease In Accounts Payable
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us-gaap Allocated Share Based Compensation Expense
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Research And Development Expense
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us-gaap Fair Value Adjustment Of Warrants
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214600
pbyi Share Based Compensation Effect On Earnings Per Share Basic And Diluted
ShareBasedCompensationEffectOnEarningsPerShareBasicAndDiluted
0.01
CY2011Q3 us-gaap Payments For Merger Related Costs
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CY2011Q3 us-gaap Payments For Repurchase Of Common Stock
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CY2011Q3 pbyi Noncash Or Part Noncash Acquisition Noncash Financial Or Equity Instrument Shares Received
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CY2011 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
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CY2011 pbyi Issuance Of Common Stock In Exchange For Convertible Notes Value
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CY2012Q2 us-gaap Fair Value Adjustment Of Warrants
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CY2012Q2 pbyi Share Based Compensation Effect On Earnings Per Share Basic And Diluted
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CY2013Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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0.05

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