Puma Biotechnology Inc Stock Price, News & Analysis

Puma Biotechnology, Inc. (NASDAQ: PBYI) is set to hold a conference call on May 4, 2023, at 1:30 p.m. PDT to discuss its first quarter 2023 financial results. The call can be accessed domestically at 1-877-709-8150 and internationally at 1-201-689-8354. A live webcast will also be available on Puma's website, along with a replay accessible for 90 days post-call.

As a biopharmaceutical company, Puma is focused on developing innovative cancer care therapies. Its product NERLYNX® (neratinib) has been approved for treating certain breast cancer cases. In addition, Puma has licensed the development rights for alisertib, an anti-cancer drug aimed at small cell lung cancer and breast cancer.

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.