U.S. stocks edge higher; solid earnings season continues
Maximo F. Nougues, Chief Financial Officer of Puma Biotechnology, INC. (NASDAQ:PBYI), sold a total of 9522 shares of common stock on July 8th and 9th, according to a new Form 4 filing with the Securities and Exchange Commission. The company, which InvestingPro data shows has achieved profitability with a healthy 72.4% gross margin and holds more cash than debt, has seen its stock rise over 15% year-to-date.
The transactions involved sales of Puma Biotechnology shares at prices ranging from $3.533 to $3.535, resulting in a total value of $33649. Specifically, on July 8, Nougues sold 5587 shares, and on July 9, he sold 3935 shares.
Following these transactions, Nougues directly owns 204229 shares of Puma Biotechnology.
These sales were executed under a pre-arranged 10b5-1 trading plan adopted on December 14, 2020.
In other recent news, Puma Biotechnology reported its financial results for the first quarter of 2025, with earnings per share of $0.06 and revenue of $46 million, both missing analysts’ expectations. The company had anticipated revenue of $47.5 million, indicating a shortfall of $1.5 million. Despite the earnings miss, Puma (OTC:PMMAF) Biotech projects full-year NERLYNX product revenue to be between $192 million and $198 million. In a strategic move, Puma Biotechnology announced the departure of Chief Commercial Officer Jeff Ludwig, with no immediate plans to appoint a replacement, opting instead to redistribute his responsibilities among existing staff. This change, filed with the SEC, suggests a possible operational restructuring within the company. Furthermore, Puma Biotechnology continues to focus on its product pipeline, with ongoing trials and strategic partnerships aimed at expanding market reach. The company remains committed to exploring in-licensing or acquisition opportunities to enhance its portfolio. These developments highlight Puma Biotechnology’s ongoing efforts to adapt its commercial strategy and strengthen its market position.
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