BioCentury
ARTICLE | Clinical News

Puma skyrockets after hours on neratinib news

July 23, 2014 12:45 AM UTC

Puma Biotechnology Inc. (NYSE:PBYI) jumped $99.97 (170%) to $159 in early after-hours trading on Tuesday after reporting top-line data for neratinib (PB272) as adjuvant treatment of HER2-positive breast cancer and separately announcing that it will be responsible for more trial costs but will owe lower royalty rates for the compound to partner Pfizer Inc. (NYSE:PFE).

In the Phase III ExteNET trial, extended adjuvant treatment with once-daily oral neratinib (PB272) for one year met the primary endpoint of improving disease-free survival (DFS) at two years vs. placebo (HR=0.67, p=0.0046). The double-blind trial enrolled 2,821 patients with early stage HER2-positive breast cancer who had undergone surgery and adjuvant treatment with Herceptin trastuzumab from Roche (SIX:ROG; OTCQX:RHHBY) and its Genentech Inc. unit. Safety data from the trial are not yet available. ...