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Puma Biotechnology Inc stock price
Puma Biotechnology Inc latest news:
BRIEF-PUMA BIOTECHNOLOGY, SPECIALISED THERAPEUTICS ASIA AGREE TO COMMERCIALIZE NERLYNX IN SOUTH EAST ASIA
Puma Biotechnology Inc(PBYI): * PUMA BIOTECHNOLOGY AND SPECIALISED THERAPEUTICS ASIA ENTER INTO EXCLUSIVE LICENSING AGREEMENT TO COMMERCIALIZE NERLYNX® IN AUSTRALIA, NEW ZEALAND AND SOUTH EAST ASIA.
Puma Biotechnology shares down 8% after quartely results
Shares of Puma Biotechnology Inc. fell more than 8% late Thursday after the biotech company reported an adjusted third-quarter loss in line with expectations, and sales that were above Wall Street forecasts. Puma reported a net loss of $77.2 million, or $2.07 a share, for the quarter, compared with a net loss of $65.8 million, or $2.02 a share, in the year-ago period. Adjusted for one-time items, the company lost $50.7 million, or $1.36 a share, in the quarter, compared with a net loss of $36 million, or $1.11 a share, a year ago. Revenue reached $6.1 million, and consisted of sales of Nerlynx, Puma's first and only commercial product to date, used to treat breast cancer. The Food and Drug Administration approved Nerlynx in July, and shipments to wholesalers started in late July. Analysts polled by FactSet had expected an adjusted loss of $2.06 a share on sales of $4.1 million. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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