LOS ANGELES--(BUSINESS WIRE)--Puma Biotechnology, Inc. (NYSE: PBYI), a biopharmaceutical company,
announced that shareholders representing over 80% of the Company’s
shares outstanding have rejected the proposals initiated by Fredric
Eshelman by revoking consent on the Company’s Blue Consent Revocation
Card or affirmatively withholding consent on Eshelman’s White Card. To
the Company’s knowledge, other than the shares held by Eshelman, which
account for less than 0.5% of the Company’s shares outstanding, only
approximately 0.3% of the Company’s shares outstanding have consented to
Eshelman’s proposals as of January 6, 2016.*
“We are grateful for the confidence our shareholders have expressed in
our Board and management team,” said Alan H. Auerbach, Chief Executive
Officer and President of Puma.
About Puma Biotechnology
Puma Biotechnology, Inc. is a biopharmaceutical company with a focus on
the acquisition, development and commercialization of innovative
products to enhance cancer care. The Company aims to acquire proprietary
rights to these products, by license or otherwise, fund their research
and development and bring the products to market. The Company is
initially focused on the development of PB272 (oral neratinib), a potent
irreversible tyrosine kinase inhibitor, for the treatment of patients
with HER2-positive breast cancer and patients with non-small cell lung
cancer, breast cancer and other solid tumors that have a HER2 mutation.
Further information about Puma Biotechnology may be found at www.pumabiotechnology.com.
* This information does not necessarily reflect the final results of the
consent solicitation since shareholders maintain the right to change
their position.
Additional Information and Where You Can Find It
The Company and certain of its directors and executive officers may be
deemed to be participants in a solicitation of consent revocations from
the Company’s shareholders in connection with the consent solicitation
by Dr. Fredric N. Eshelman. The Company has filed a definitive consent
revocation statement with the SEC in connection with such consent
solicitation (the “Consent Revocation Statement”). Information regarding
the names of the Company’s directors and executive officers and their
respective interests in the Company by security holdings or otherwise is
set forth in the Consent Revocation Statement filed with the SEC on
December 10, 2015. This document is available free of charge at the
SEC’s website at www.sec.gov.
Additional information regarding the interests of potential participants
will be included in the Consent Revocation Statement and any other
relevant documents filed with the SEC in connection with the consent
solicitation.
The Company has filed the definitive Consent Revocation Statement with
the SEC and has mailed the definitive Consent Revocation Statement and a
consent revocation card to each shareholder entitled to deliver a
written consent in connection with the consent solicitation. THE COMPANY
URGES INVESTORS TO READ ANY CONSENT REVOCATION STATEMENT (INCLUDING ANY
SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS THAT THE COMPANY
MAY FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL
CONTAIN IMPORTANT INFORMATION. Shareholders will be able to obtain, free
of charge, copies of any Consent Revocation Statement and any other
documents filed by the Company with the SEC in connection with the
consent solicitation at the SEC’s website at www.sec.gov.
Contact: