Puma Biotechnology Grants Inducement Award Under Nasdaq Rule

Puma Biotechnology, Inc. (NASDAQ: PBYI), a leader in the biopharmaceutical industry, announced on December 2, 2024, the approval of an inducement restricted stock unit award by its Compensation Committee. This award involves 7,500 shares of Puma common stock granted to a new non-executive employee. The award, part of Puma's 2017 Employment Inducement Incentive Award Plan, vests over three years. Initially, one-third of the shares vest on the first anniversary of the vesting commencement date, December 1, 2024, with the remaining shares vesting semi-annually thereafter, contingent upon continued service. This grant aligns with Nasdaq Listing Rule 5635(c)(4), serving as an inducement for the new employee's engagement with Puma.

Puma Biotechnology is renowned for its focus on innovative cancer treatments. The company gained exclusive rights to develop and market PB272 (neratinib, oral) in 2011. Neratinib was approved by the U.S. FDA in 2017 for treating early-stage HER2-overexpressed breast cancer and later for advanced HER2-positive breast cancer in combination with capecitabine in 2020. Additionally, the European Commission authorized its use in 2018 for specific breast cancer treatments. NERLYNX® is a registered trademark of Puma Biotechnology.

Further expanding its portfolio, Puma Biotechnology entered an exclusive license agreement for alisertib, an aurora kinase A inhibitor, in September 2022. The company is focusing alisertib's development on small cell lung cancer and breast cancer. In 2024, Puma launched two Phase II clinical trials: ALISCA™-Lung1 for small cell lung cancer and ALISCA™-Breast1 for HER2-negative, HR-positive metastatic breast cancer.