Maximo F. Nougues, Chief Financial Officer of Puma Biotechnology, Inc. (NASDAQ:), a profitable biotech company currently valued at $144 million with a P/E ratio of 6.14, recently sold 10,227 shares of common stock. The transaction, which took place 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 in the company. The sale was part of a pre-established trading plan under Rule 10b5-1, adopted on December 14, 2020. According to InvestingPro analysis, PBYI currently trades below its Fair Value, with a GREAT financial health score. InvestingPro subscribers can access 6 additional key insights and a comprehensive Pro Research Report, part of their coverage of 1,400+ US stocks.
In other recent news, Puma (OTC:) Biotechnology has been making significant strides in its operations. The company’s third-quarter revenue for 2024 saw a substantial increase, reaching $80.5 million, up from $51.6 million in the same period last year. This growth was primarily driven by the sales of NERLYNX, Puma’s flagship product, and a marked surge in royalty revenue due to its performance in the Chinese market.
Puma Biotechnology’s profile was recently bolstered by an endorsement from the National Comprehensive Cancer Network (NCCN), updating its Clinical Practice Guidelines in Oncology for Cervical Cancer to include Puma’s Nerlynx as a treatment option. This recommendation is specific for patients with HER2-mutated tumors to use Nerlynx for recurrent or metastatic disease as a second-line or subsequent therapy.
According to H.C. Wainwright, this new development could positively impact Nerlynx sales, although no changes to sales forecasts have been made at this time. Current estimates for net Nerlynx sales stand at $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 a glimpse into Puma Biotechnology’s ongoing operations and future prospects.
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