Puma Biotechnology Reports Inducement Awards Under Nasdaq Listing Rule 5635(c)(4)
August 06 2024 - 5:23PM
Business Wire
Puma Biotechnology, Inc. (NASDAQ: PBYI), a biopharmaceutical
company, announced that on August 5, 2024, the Compensation
Committee of Puma’s Board of Directors approved the grant of an
inducement restricted stock unit award covering 3,500 shares of
Puma common stock to one new non-executive employee.
The award was granted under Puma’s 2017 Employment Inducement
Incentive Award Plan, which was adopted on April 27, 2017 and
provides for the granting of equity awards to new employees of
Puma. The restricted stock unit award vests over a three-year
period, with one-third of the shares underlying the award vesting
on the first anniversary of the award’s vesting commencement date,
August 1, 2024, and one-sixth of the shares underlying the award
vesting on each six-month anniversary of the vesting commencement
date thereafter, subject to continued service. The award was
granted as an inducement material to the new employee entering into
employment with Puma, in accordance with Nasdaq Listing Rule
5635(c)(4).
About Puma Biotechnology
Puma Biotechnology, Inc. is a biopharmaceutical company with a
focus on the development and commercialization of innovative
products to enhance cancer care. Puma in-licensed the global
development and commercialization rights to PB272 (neratinib,
oral), in 2011. Neratinib, oral was approved by the U.S. Food and
Drug Administration in 2017 for the extended adjuvant treatment of
adult patients with early stage HER2-overexpressed/amplified breast
cancer, following adjuvant trastuzumab-based therapy, and is
marketed in the United States as NERLYNX® (neratinib) tablets. In
February 2020, NERLYNX was also approved by the FDA in combination
with capecitabine for the treatment of adult patients with advanced
or metastatic HER2-positive breast cancer who have received two or
more prior anti-HER2-based regimens in the metastatic setting.
NERLYNX was granted marketing authorization by the European
Commission in 2018 for the extended adjuvant treatment of adult
patients with early stage hormone receptor-positive
HER2-overexpressed/amplified breast cancer and who are less than
one year from completion of prior adjuvant trastuzumab-based
therapy. NERLYNX® is a registered trademark of Puma Biotechnology,
Inc.
In September 2022, Puma entered into an exclusive license
agreement for the development and commercialization of the
anti-cancer drug alisertib, a selective, small molecule, orally
administered inhibitor of aurora kinase A. Initially, Puma intends
to focus the development of alisertib on the treatment of small
cell lung cancer and breast cancer. In February 2024, Puma
initiated ALISCA™-Lung 1, a Phase II clinical trial of alisertib
monotherapy for the treatment of patients with extensive-stage
small cell lung cancer.
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version on businesswire.com: https://www.businesswire.com/news/home/20240806146216/en/
Alan H. Auerbach or Mariann Ohanesian, Puma Biotechnology, Inc.,
+1 424 248 6500 info@pumabiotechnology.com
ir@pumabiotechnology.com
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