PUMA BIOTECHNOLOGY INC - PBYI STOCK NEWS

Puma Biotechnology, Inc. (NASDAQ: PBYI) announced on April 8, 2023, the grant of inducement restricted stock unit awards covering 22,000 shares to four new non-executive employees. These awards are part of Puma's 2017 Employment Inducement Incentive Award Plan and are intended to incentivize new hires. The units will vest over a three-year period, with a third vesting after the first anniversary and the remainder vesting in six-month increments thereafter, based on continued employment. Puma focuses on innovative cancer treatments, notably through its drug NERLYNX® (neratinib), which is approved for specific breast cancer treatments. Additionally, Puma holds an exclusive license for the anti-cancer drug alisertib, targeting lung and breast cancers.

Puma Biotechnology (NASDAQ: PBYI) announced the publication of Phase II results for alisertib in treating endocrine-resistant advanced breast cancer in JAMA Oncology. The trial involved 91 postmenopausal women, assessing alisertib alone and in combination with fulvestrant. Key findings include a 19.6% overall response rate for alisertib alone, with a median duration of response of 15.1 months. In the combination arm, a 20.0% response rate was noted with a median duration of 8.5 months. The trial indicated a tolerable safety profile, although adverse events such as neutropenia and anemia were reported. Positive results support further development of alisertib.

Summit Therapeutics (SMMT) reported its financial results for the fourth quarter and year ending December 31, 2022. The company is progressing with its Collaboration and License Agreement with Akeso, acquiring rights to ivonescimab, a bispecific antibody for cancer treatment, for an upfront payment of $500 million. Key financials include a net loss of $78.8 million for the year, a significant decrease from $88.6 million in 2021. Summit raised $500 million in a Rights Offering to fund ongoing operations, with sufficient capital expected to cover expenses into late 2024. An earnings call is scheduled for March 9, 2023.

Puma Biotechnology, Inc. (NASDAQ: PBYI) announced on March 1, 2023, that its Compensation Committee approved an inducement restricted stock unit award of 9,375 shares to a new non-executive employee. This award, granted under the 2017 Employment Inducement Incentive Award Plan, vests over three years with specific milestones tied to the employee's service. Puma focuses on developing innovative cancer care products, including NERLYNX® for HER2-positive breast cancer. The company also has an exclusive license for alisertib, aimed at treating small cell lung cancer and breast cancer.

Puma Biotechnology reported its financial results for the fourth quarter and full year 2022. For Q4 2022, product revenue, net from NERLYNX sales, reached $53.7 million, up from $51.0 million in Q4 2021. For the full year, product revenue totaled $200.0 million, a rise from $189.1 million in 2021. The company experienced a net loss of $5.6 million in Q4 2022 versus a net income of $4.2 million in the same period last year. Adjusted net loss stood at $3.0 million in Q4 2022, while total revenue for the year was $228.0 million. The company holds $81.1 million in cash at year-end.

Puma Biotechnology (NASDAQ: PBYI) announced its participation in Cowen's 43rd Annual Health Care Conference from March 6-8, 2023, at the Boston Marriott Copley Place. Alan H. Auerbach, the company’s Chairman and CEO, will join a Breast and Lung Cancer Panel Discussion on March 7 at 10:30 a.m. ET. A live webcast will be available at this link, with a replay accessible for 30 days on Puma’s website. Puma is known for its innovative cancer care solutions, including NERLYNX (neratinib), which is FDA-approved for various HER2-positive breast cancer treatments.

Puma Biotechnology (NASDAQ: PBYI) will hold a conference call on March 2, 2023, at 1:30 p.m. PST to discuss its fourth quarter and full year 2022 financial results. Investors can join the call by dialing 1-877-709-8150 for domestic or 1-201-689-8354 for international access. The call will also feature a live webcast available on the company’s website, which will be archived for 90 days.

Puma, focused on innovative cancer care solutions, markets NERLYNX (neratinib), approved by the FDA in 2017. They have also licensed alisertib for small cell lung cancer and breast cancer treatment.

Puma Biotechnology, Inc. (NASDAQ: PBYI) announced on February 6, 2023 that its Compensation Committee approved the grant of inducement restricted stock unit awards covering 34,163 shares to four new non-executive employees. The awards are part of Puma's 2017 Employment Inducement Incentive Award Plan and will vest over a three-year period, promoting employee retention. This move aligns with Nasdaq Listing Rule 5635(c)(4) and aims to attract talent to bolster the company’s biopharmaceutical development efforts.

Puma Biotechnology (NASDAQ: PBYI) announced that the National Comprehensive Cancer Network (NCCN) has updated its Clinical Practice Guidelines for Breast Cancer to include neratinib (NERLYNX^®) as a category 2B therapy for ER+/HER2- or ER-/HER2- metastatic breast cancer with activating HER2 mutations. This update highlights neratinib's use in combination with fulvestrant and trastuzumab. The decision is based on results from the Phase 2 SUMMIT and MutHER trials. Additionally, the NCCN has included a dose escalation schedule for neratinib for better tolerability. The update reflects growing recognition of neratinib's potential in treating advanced breast cancer.