BioCentury
ARTICLE | Company News

Earnings roundup: Puma falls on Nerlynx sales miss; cabozantinib sales lift Exelixis

November 9, 2018 5:28 PM UTC

Puma Biotechnology Inc. (NASDAQ:PBYI) shares tumbled, while Exelixis Inc. (NASDAQ:EXEL) gained after the companies reported 3Q18 financial results for their flagship therapies.

Puma lost $18.53 (48%) to $20.07 on Nov. 2 after the company said the discontinuation rate for breast cancer drug Nerlynx neratinib has grown from last quarter. The biotech also missed Nerlynx consensus sales estimates and said on a call to discuss 3Q18 financial results that it expects a slowdown in patient starts in November and December...