Puma Biotechnology Chief Commercial Officer Sells $29,742 worth of stock By Investing.com
In a recent filing with the Securities and Exchange Commission, Puma Biotechnology, Inc. (NASDAQ: ), a profitable biotech company with a market cap of $144 million and an impressive 69% gross profit margin according to InvestingProdisclosed that Jeffrey Jerome Ludwig, the company’s chief commercial officer, sold 9,437 shares of common stock. The shares were sold at an average price of $3.1517, generating a total transaction value of $29,742. After this transaction, Ludwig directly holds 108,951 shares. The sale was made under trading plan 10b5-1, which was adopted on December 14, 2020. The shares were sold in multiple transactions, with prices ranging between $3.11 and $3.2101. Currently trading at an attractive P/E ratio of 6.1, InvestingPro analysis suggests the stock is undervalued, with additional insights available in the extensive Pro Research Report covering this and over 1,400 other US stocks.
In other recent news, biotech Puma (OTC: ) has been in the spotlight for a significant development. The National Comprehensive Cancer Network (NCCN) has endorsed Puma’s Nerlynx as a treatment option for patients with HER2-mutated tumors, an endorsement that could positively impact Nerlynx sales, according to analyst HC Wainwright. At the same time, Puma Biotechnology reported a significant increase in revenue in the third quarter of 2024, reaching $80.5 million, primarily driven by the sale of Nerlynx and an increase in royalty income from the Chinese market.
Furthermore, Puma is making progress in its ongoing clinical trials, notably a phase 2 study of alisertib, an investigational drug for small cell lung cancer. Puma Biotechnology’s financial outlook remains positive, with the company forecasting full-year 2024 net product revenue for Nerlynx to be between $187 million and $290 million. These are just some of the recent developments that have shaped Puma Biotechnology’s current market position.
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