Ticker symbol to remain PBYI
LOS ANGELES--(BUSINESS WIRE)--Puma Biotechnology, Inc. (NYSE: PBYI), a biopharmaceutical company,
announced that it will voluntarily move its stock exchange listing from
the New York Stock Exchange to the Nasdaq Stock Market. Nasdaq has three
market tiers: the Nasdaq Global Select Market, the Nasdaq Global Market
(formerly the Nasdaq National Market) and the Nasdaq Capital Market
(formerly the Nasdaq SmallCap Market). Puma’s common stock will be
traded on the Nasdaq Global Select Market, which is for public companies
that meet the highest standards with measures including market value and
liquidity. The move is expected to become effective on or about January
3, 2017, and the Company’s common stock will continue to trade under the
ticker symbol “PBYI.”
“Nasdaq is considered a great fit for Puma as it is home to many
world-class biopharmaceutical companies,” said Alan H. Auerbach, Chief
Executive Officer and President of Puma Biotechnology. “This move will
enhance Puma’s public visibility while offering efficient access to a
portfolio of tools and opportunities to our stockholders. In addition,
our Company will also benefit from cost savings associated with the move
in 2017 and beyond.”
“Puma Biotechnology has been driving the innovation in the
biopharmaceutical industry with its development of cancer therapies,”
said Nelson Griggs, Executive Vice President, Global Listings, Nasdaq.
“As home to the leading healthcare companies, we are excited to be their
exchange partner as the Company strives to improve the quality of
treatment with deep understanding of disease and full commitment to
patients.”
About Puma Biotechnology
Puma Biotechnology, Inc. is a biopharmaceutical company with a focus on
the development and commercialization of innovative products to enhance
cancer care. The Company in-licenses the global development and
commercialization rights to three drug candidates—PB272 (neratinib
(oral)), PB272 (neratinib (intravenous)) and PB357. Neratinib is a
potent irreversible tyrosine kinase inhibitor that blocks signal
transduction through the epidermal growth factor receptors, HER1, HER2
and HER4. Currently, the Company is primarily focused on the development
of the oral version of neratinib, and its most advanced drug candidates
are directed at the treatment of HER2-positive breast cancer. The
Company believes that neratinib has clinical application in the
treatment of several other cancers as well, including non-small cell
lung cancer and other tumor types that over-express or have a mutation
in HER2.
Further information about Puma Biotechnology may be found at www.pumabiotechnology.com.
Forward-Looking Statements:
This press release contains forward-looking statements that involve
risks and uncertainties that could cause the Company's actual results to
differ materially from the anticipated results and expectations
expressed in these forward-looking statements. These statements are
based on current expectations, forecasts and assumptions, and actual
outcomes and results could differ materially from these statements due
to a number of factors, which include, but are not limited to, the risk
factors disclosed in the periodic reports filed by the Company with the
Securities and Exchange Commission from time to time. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof. The Company assumes
no obligation to update these forward-looking statements, except as
required by law.
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