SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Puma Biotechnology, Inc.

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May 14, 2015, 04:28 ET

NEW YORK, May 14, 2015 /PRNewswire/ -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of Puma Biotechnology, Inc. ("Puma Biotechnology" or the "Company") (NYSE: PBYI -News). Such investors are advised to contact Peretz Bronstein or his investor relations coordinator Eitan Kimelman at [email protected] or 212-697-6484.

The investigation concerns whether Puma Biotechnology and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

On July 22, 2014, the Company announced positive top line results from the Phase III clinical trial of Puma's investigational breast cancer drug, PB272 (neratinib). Based on these results, the Company stated that it plans to file for regulatory approval of neratinib in the first half of 2015, a claim that was confirmed as recently as November 13, 2014.

Then on December 2, 2014, the Company announced that the submission for regulatory approval would be delayed until the first quarter of 2016. Puma Biotechnology originally said it would apply to use neratinib for HER2-positive metastatic breast cancer, a sicker, higher-risk group, and now plans to apply first for extended adjuvant HER2-positive early stage breast cancer

Then on May 14, 2015, Shares of Puma Biotechnology fell after reporting results from a study of the company's breast cancer drug. While 93.9 percent of the patients taking the drug combination were still alive two years later, it wasn't substantially better than the 91.6 percent of patients who were treated with only Herceptin and chemotherapy.

Following this news, shares of Puma Biotechnology fell $38.87 or 18.53% during intraday trading to trade at $170.85 on May 14, 2015.

If you are aware of any facts relating to this investigation, or purchased shares of Puma Biotechnology, you can assist this investigation by contacting Peretz Bronstein or his Investor Relations Coordinator Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email [email protected]. Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman 212-697-6484
[email protected]

SOURCE Bronstein, Gewirtz & Grossman, LLC