Puma Biotechnology Inc Stock Price, News & Analysis

Puma Biotechnology (NASDAQ: PBYI) has announced its participation in the H.C. Wainwright 26th Annual Global Investment Conference. The event is scheduled for September 9-11, 2024, at the Lotte New York Palace Hotel in New York City. Alan H. Auerbach, the company's Chairman, CEO, President, and Founder, will present an overview of Puma Biotechnology on Monday, September 9, at 3:00 p.m. EDT.

Investors and interested parties can access a live webcast of the presentation through the company's website at pumabiotechnology.com. The presentation will remain available on the website for 30 days after the event, providing an opportunity for those unable to attend the conference to gain insights into Puma Biotechnology's current status and future plans.

Puma Biotechnology (NASDAQ: PBYI) has granted an inducement restricted stock unit award to a new non-executive employee. The award, approved on August 5, 2024, covers 3,500 shares of Puma common stock. This grant falls under Puma's 2017 Employment Inducement Incentive Award Plan, adopted on April 27, 2017. The award will vest over three years, with one-third vesting on August 1, 2025, and one-sixth vesting every six months thereafter, contingent on continued employment. This award is in compliance with Nasdaq Listing Rule 5635(c)(4) and serves as an inducement for the new employee to join Puma.

Puma Biotechnology (NASDAQ: PBYI) reported its Q2 2024 financial results. Product revenue from NERLYNX® sales was $44.4 million, down from $51.6 million in Q2 2023. The company reported a net loss of $4.5 million, or $0.09 per share, compared to net income of $2.1 million in Q2 2023. Non-GAAP adjusted net loss was $2.5 million. Total revenue for Q2 2024 was $47.1 million, including $2.7 million in royalty revenue. Operating costs were $49.3 million. The company ended the quarter with $96.8 million in cash and equivalents. Puma anticipates key milestones in the next 12 months, including the initiation of ALISCA™-Breast1 trial and interim data from ALISCA™-Lung1 trial. The company provided guidance for Q3 and full-year 2024, projecting net product revenue of $183-$190 million for the year.

Puma Biotechnology (NASDAQ: PBYI) has announced a conference call to discuss its second quarter 2024 financial results. The call is scheduled for Thursday, August 1, 2024, at 1:30 p.m. PDT/4:30 p.m. EDT. Investors can access the call by dialing 1-877-709-8150 (domestic) or 1-201-689-8354 (international). A live webcast and presentation slides will be available on the company's website. The call replay will be archived on Puma's website for 90 days after the event.

Puma Biotechnology announced that its Compensation Committee approved the grant of an inducement restricted stock unit (RSU) award covering 3,500 shares of common stock to a new non-executive employee. This decision was made on July 1, 2024, under its 2017 Employment Inducement Incentive Award Plan. The RSU award will vest over three years, with one-third of the shares vesting on the first anniversary, and one-sixth vesting every six months thereafter. This grant was made as an inducement material for the new employee according to Nasdaq Listing Rule 5635(c)(4).

Puma Biotechnology (NASDAQ: PBYI) announced the grant of an inducement restricted stock unit (RSU) award covering 3,500 shares of common stock to a new non-executive employee as approved by the Compensation Committee of the Board of Directors on June 6, 2024. This award is part of Puma's 2017 Employment Inducement Incentive Award Plan, designed to attract new employees. The RSU award vests over three years, with one-third vesting on the first anniversary of June 1, 2024, and one-sixth vesting every six months thereafter, contingent on continued service. The award complies with Nasdaq Listing Rule 5635(c)(4).

Puma Biotechnology (NASDAQ: PBYI) presented findings from a Phase I/Ib study of alisertib in advanced osimertinib-resistant EGFR-mutated non-small cell lung cancer (NSCLC) at the ASCO Annual Meeting. The study, involving 21 patients, found that intermittent dosing of alisertib (30 mg BID) with osimertinib (80 mg daily) was well-tolerated. The overall response rate was 9.5%, and the disease control rate was 81%. Median progression-free survival (PFS) was 5.5 months, and overall survival (OS) was 23.5 months. Notably, TP53 wild type patients showed a higher response rate (25%) and longer PFS (8.0 months) compared to those with TP53 mutations. Adverse events included neutropenia, anemia, diarrhea, and lymphopenia, mostly manageable. The study will now focus on enrolling TP53 wild type patients.

Puma Biotechnology (NASDAQ: PBYI) presented promising findings from a Phase II study of alisertib for endocrine and CDK4/6 inhibitor-resistant, HER2-negative, hormone receptor-positive metastatic breast cancer at the 2024 ASCO Annual Meeting.

The study compared alisertib alone versus alisertib plus fulvestrant, showing overall response rates of 19.6% and 20.0%, respectively. Median progression-free survival was 5.6 months for alisertib and 5.4 months for the combination therapy, both indicating tolerable safety profiles.

Key biomarker findings include decreased progression-free survival in patients with PIK3CA mutations and longer progression-free survival associated with lower circulating tumor cell counts and lower methylated tumor fraction percentages. Ongoing analyses aim to identify patients who may benefit most from alisertib.

Puma Biotechnology (NASDAQ: PBYI) will join the Russell 3000 Index starting July 1, following the annual reconstitution of Russell Investments' equity indexes. This inclusion is based on market-capitalization rankings as of the end of April.

Membership in the Russell 3000 will also mean automatic inclusion in either the Russell 1000 Index or Russell 2000 Index, and relevant growth and value style indexes. It offers increased liquidity and broader exposure to institutional investors, benefiting stockholders.

The Russell indexes, utilized by investment managers and institutional investors, benchmark over $10 trillion in assets. This is a significant development for Puma Biotechnology, aligning them with major U.S. and global equity performance metrics.