Maximo F. Nougues, Chief Financial Officer of the company Puma Biotechnology, Inc. (NASDAQ:), a profitable biotechnology company currently valued at $144M with a P/E ratio of 6.14, recently sold 10,227 common shares. The transaction, which occurred on January 2, 2025, was executed at a weighted average price of $3.1517 per share, resulting in a total value of approximately $32,232. Following this sale, Nougues retains ownership of 152,295 shares of the company. The sale was part of a predetermined trading plan under Rule 10b5-1, adopted on December 14, 2020. According InvestingPro analysis, PBYI is currently trading below its fair value, with an EXCELLENT financial health rating. InvestingPro subscribers can access 6 additional key insights and a comprehensive Pro Research Report, part of their coverage of more than 1,400 US stocks.
In other recent news, Puma (OTC:) Biotechnology is making significant strides in its business. The company’s revenue in the third quarter of 2024 increased significantly, reaching $80.5 million, compared to $51.6 million in the same period last year. This growth was primarily driven by the sale of NERLYNX, Puma’s flagship product, and a significant increase in royalty income due to its performance in the Chinese market.
Puma Biotechnology’s profile was recently boosted by the support of the National Comprehensive Cancer Network (NCCN), which updated its Oncology Clinical Practice Guidelines for cervical cancer to include Puma’s Nerlynx as a treatment option. This recommendation is specific to patients with HER2-mutated tumors using Nerlynx for recurrent or metastatic disease as second-line or subsequent therapy.
According to HC Wainwright, this new development could have a positive impact on Nerlynx sales, although there is no change in sales forecasts at this time. Current estimates for Nerlynx net sales are $46.4 million for the fourth quarter of 2024, with projected net product sales of $187.2 million for the full year 2024 and $195.3 million for 2025. These are recent developments that provide insight into Puma Biotechnology’s current operations and future prospects.
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