LOS ANGELES–(COMMERCIAL THREAD) – Puma Biotechnology, Inc. (NASDAQ: PBYI), a biopharmaceutical company, announced that on June 2, 2021, the Compensation Committee of the Puma Board of Directors approved the award of Incentive Restricted Share Units covering a total of 30,375 shares of Puma Common Shares to five new non-executive employees.
The award was presented as part of Puma’s 2017 Employment Incentive Plan, which was adopted on April 27, 2017 and provides for the granting of stock awards to new Puma employees. Restricted share 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 start date, June 1, 2021 , and one-sixth of the underlying shares for each grant. vesting on each six month anniversary of the vesting start date thereafter, subject to continuous service. The awards were given as an incentive to new employees joining Puma, in accordance with Nasdaq enrollment rule 5635 (c) (4).
About Puma Biotechnology
Puma Biotechnology, Inc. is a biopharmaceutical company focused on the development and commercialization of innovative products to improve cancer care. Puma holds under license the worldwide rights to develop and commercialize PB272 (neratinib, oral), PB272 (neratinib, intravenous) and PB357. Oral neratinib was approved by the U.S. Food and Drug Administration in 2017 for prolonged adjuvant therapy in adult patients with early HER2 overexpressed / amplified breast cancer after adjuvant therapy with trastuzumab, 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 at least two prior anti-HER2 treatments as part of the treatment. metastatic. NERLYNX obtained marketing authorization by the European Commission in 2018 for the prolonged adjuvant treatment of adult patients with HER2 overexpressed / amplified breast cancer which is positive for early stage hormone receptors and who are less than one year from the end of previous adjuvant therapy with trastuzumab. NERLYNX is a registered trademark of Puma Biotechnology, Inc.