Puma Biotechnology Reports Inducement Awards Under Nasdaq Listing Rule 5635(c)(4)
07 June 2023 - 7:03AM
Business Wire
Puma Biotechnology, Inc. (NASDAQ: PBYI), a biopharmaceutical
company, announced that on June 2, 2023, the Compensation Committee
of Puma’s Board of Directors approved the grant of inducement
restricted stock unit awards covering 22,500 shares of Puma common
stock to three new non-executive employees.
The awards were 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 awards vest over a three-year
period, with one-third of the shares underlying each award vesting
on the first anniversary of the award’s vesting commencement date,
June 1, 2023, and one-sixth of the shares underlying each award
vesting on each six-month anniversary of the vesting commencement
date thereafter, subject to continued service. The awards were
granted as an inducement material to the new employees 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), PB272 (neratinib, intravenous) and PB357. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20230606005459/en/
Alan H. Auerbach or Mariann Ohanesian, Puma Biotechnology, Inc.,
+1 424 248 6500 info@pumabiotechnology.com
ir@pumabiotechnology.com
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