Douglas M. Hunt, senior vice president of regulatory affairs at Puma Biotechnology, Inc. (NASDAQ:), recently sold 8,633 shares of the company’s stock. The shares were sold at a weighted average price of $3.1517, for a total transaction value of $27,208. Following this sale, Hunt retains ownership of 124,594 shares of the company. According to InvestingPro according to the data, PBYI currently trades at a P/E ratio of 6.14 and maintains an “EXCELLENT” financial health rating, with a return on equity of 42%.
The transaction was executed under a 10b5-1 trading plan, which was adopted on December 14, 2020. This plan allows company individuals to set a predetermined schedule for the sale of shares, providing a legal avenue to avoid insider trading charges. Shares were sold in multiple transactions at prices ranging from $3.11 to $3.2101. InvestingPro analysis shows that the company has been profitable for the last twelve months, with revenue of $243.57 million and additional valuable insights available in the Pro Research Report.
In other recent news, Puma ( OTC: ) Biotechnology saw significant revenue growth in the third quarter of 2024, reaching $80.5 million, a significant increase from $51.6 million in the same period last year. The increase was primarily attributed to sales of NERLYNX, the company’s flagship product, and a significant increase in royalty income from its entry into the Chinese market. Furthermore, Puma’s profile was recently strengthened following approval by the National Comprehensive Cancer Network (NCCN), which updated its clinical practice guidelines in oncology for cervical cancer to include Puma’s Nerlynx as a treatment option.
In addition, the company is making progress in its ongoing clinical trials, particularly the phase 2 study of alisertib. Analysts at HC Wainwright maintain a “Buy” rating on shares of Puma Biotechnology, suggesting that these recent developments could have a positive impact on Nerlynx sales. However, 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 among recent developments in the business strategy and financial results of Puma Biotechnology.
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