The Shareholders Foundation announces that an investigation on behalf of current long-term investors in shares of Puma Biotechnology Inc (NYSE:PBYI) shares was initiated over potential breaches of fiduciary duties by certain officers and directors at Puma Biotechnology.
Investors who purchased shares of Puma Biotechnology Inc (NYSE:PBYI) and currently hold any of those NYSE:PBYI shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain Puma Biotechnology officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
On December 4, 2013, Puma Biotechnology Inc reported announced top line results from the Phase II clinical trial of Puma’s investigational drug PB272 (neratinib) for the neoadjuvant treatment of breast cancer
Shares of Puma Biotechnology Inc (NYSE:PBYI) jumped from $46.21 per share on December 4, 2014, to $77.70 per share on December 5, 2014 and continued to increase to as high as $139.92 per share in late January 2014.
On March 3, 2014, Puma Biotechnology Inc reportd its fourth quarter and full year 2013 financial results. Among other things, Puma Biotechnology Inc (NYSE:PBYI) reported that its Net Loss of $74.35 million in 2012 declined to a Net Loss of $54.66 million in 2013.
On May 12, 2014, Puma Biotechnology Inc reported its first quarter 2014 financial results. Among other things, Puma Biotechnology Inc’s first quarter Net Loss increase from $1.78 million in 2013 to $19.79 million in 2014.
On June 1, 2014, Puma Biotechnology Inc announced that announced that it presented results at the American Society of Clinical Oncology from an ongoing Phase II clinical trial of Puma’s investigational drug PB272 (neratinib) for the treatment of HER2 positive metastatic breast cancer that has metastasized to the brain.
On July 22, 2014, Puma Biotechnology Inc announced positive top line results from the Phase III clinical trial of Puma’s investigational breast cancer drug, PB272 (neratinib). Puma Biotechnology Inc said that based on the results from the ExteNET study, Puma plans to file for regulatory approval of neratinib in the extended adjuvant setting in the first half of 2015.
Shares of Puma Biotechnology Inc (NYSE:PBYI) jumped from $59.03 per share on July 22, 2014, to $233.43 per share on July 23, 2014 and continued to increase to as high as $275.07 per share in September 2014.
Then on December 2, 2014, Puma Biotechnology Inc announced that it intends to delay its proposed timeline for filing the new drug application (“NDA”) until the first quarter of 2016. Puma Biotechnology Inc said that it originally focused on the proposed clinical indication of HER2-positive metastatic breast cancer and now plans to apply first for extended adjuvant HER2-positive early stage breast cancer
Share of Puma Biotechnology Inc (NYSE:PBYI) declined from $228.82 per share on December 2, 2014, to $189.51 per share on December 3, 2014.
On December 16, 2014, NYSE:PBYI shares closed at $195.44 per share.
Those who purchased shares of Puma Biotechnology Inc have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com