Here is why Puma Biotechnology Inc. (PBYI) stock recovered its early loss in the after-hours on Wednesday?

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PBYI Stock
PBYI Stock

Puma Biotechnology Inc. (PBYI) shares soared 6.49% in after-hours on Wednesday, January 12, 2021, and closed the daily trading at $2.79. However, in the regular trading session, PBYI’s stock lost 4.38%. The stock volume remained at 1.27 million shares. PBYI shares have fallen 75.72% over the last 12 months, and they have moved down 9.66% in the past week. Over the past three months, the stock has lost 57.88%, while over the past six months, it has plummeted 68.01%.

Let’s have a look at its recent news and developments.


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PBYI latest news

On January 12, 2022, Puma Biotechnology, Inc. (PBYI), announced that the National Comprehensive Cancer Network (NCCN) Clinical Practice Guidelines in Oncology (NCCN Guidelines) for the treatment of breast cancer have been updated for 2022 and include two important changes involving neratinib (NERLYNX®).

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NERLYNX has been added to the guidelines for the treatment of adjuvant HER2-positive Breast Cancer (BINV-L) under the heading Useful in Certain Circumstances.

The second update is about the dose escalation to improve the tolerability of neratinib in the treatment of adjuvant HER2-positive Breast Cancer (BINV-L).

These updates came after the approval of new prescribing Information by the U.S. Food and Drug Administration in June 2021.

PBYI participation in the recent event

Puma Biotechnology, Inc. (PBYI) recently participated in the virtual H.C. Wainwright BioConnect Conference, which was held on Monday, January 10, 2022. The Puma CEO and President, Alan H. Auerbach, presented the company during the event.

PBYI data presentation at SABCS

On December 10, 2021, Puma Biotechnology, Inc. (PBYI), announced updates from its Phase II SUMMIT trial at the 2021 San Antonio Breast Cancer Symposium (SABCS) Annual Meeting.

The company presented data from a cohort of patients with hormone receptor-positive, HER2-mutant metastatic breast cancer, exposed to CDK4/6 inhibitors, and treated with a combination of neratinib with fulvestrant and trastuzumab.

PBYI inducement grants

On December 01, 2021, the Compensation Committee of the PBYI Board of Directors approved the grant of inducement restricted stock unit awards covering an aggregate of 13,125 shares of Puma common stock to two new non-executive employees.

U.S Patent term extended for NERLYNX

On November 23, 2021, the United States Patent and Trademark Office (USPTO) issued a Patent Term Extension Certificate for U.S. Patent No. 7,399,865, extending the patent term five years for NERLYNX® and will now expire on December 29, 2030.

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Conclusion

Well, in our opinion the recent NERLYNX updates were the reason behind its turnaround in the after-hours on Wednesday. we can expect it to continue its positive performance on Thursday as well.

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