Puma rises after ODAC vote favors neratinib approval

FDA's Oncologic Drugs Advisory Committee (ODAC) voted 12-4 that the overall benefit-risk profile for oral neratinib (PB272) from Puma Biotechnology Inc. (NASDAQ:PBYI) supports approval to treat HER2-positive breast cancer in the extended adjuvant setting.

After a halt during morning trading, Puma shares jumped $17.15 (30%) during the afternoon to close at $74.95, giving it a market cap of $2.8 billion. ...