In a recent filing with the Securities and Exchange Commission, Puma Biotechnology, Inc. (NASDAQ:PBYI), a profitable biotech company with a market cap of $144 million and impressive 69% gross profit margin according to InvestingPro, disclosed 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. Following this transaction, Ludwig holds 108,951 shares directly. The sales were executed under a 10b5-1 trading plan, 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 comprehensive Pro Research Report covering this and 1,400+ other US stocks.
In other recent news, Puma (OTC:PMMAF) Biotechnology has been in the spotlight due to significant developments. The National Comprehensive Cancer Network (NCCN) endorsed Puma's Nerlynx as a treatment option for patients with HER2-mutated tumors, a commendation that could positively influence Nerlynx sales according to an analyst from H.C. Wainwright. Concurrently, Puma Biotechnology reported a substantial increase in its third-quarter revenue for 2024, reaching $80.5 million, primarily driven by sales of Nerlynx and a surge in royalty revenue from the Chinese market.
Furthermore, Puma is making strides with its ongoing clinical trials, particularly the Phase 2 study of alisertib, an investigational drug for small cell lung cancer. Puma Biotechnology's financial outlook remains positive, with the company projecting full-year 2024 net product revenue for Nerlynx to be between $187 million and $290 million. These are just a few of the recent developments that have shaped Puma Biotechnology's current standing in the marketplace.
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