Puma Biotechnology shares more than triple on postive trial
We all hope that PLI will have its day in the sun soon.
NEW YORK (MarketWatch) -- Shares of Puma Biotechnology
PBYI+278.06% more than tripled in after-hours trade Tuesday after the company reported positive results from a late-stage trial of its breast cancer treatment. The company said use of its investigational drug resulted in a 33% improvement in disease-free survival, which was the Phase 3 trial's primary endpoint, when compared with a placebo. The stock was trading at $194.89, compared with Tuesday's closing price of $59.03, and the all-time closing high of $139.92 hit on Jan. 21, 2014. After-hours volume had already exceeded the regular-session daily average of about 382,000 share.
Regards
Jack