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Puma Biotechnology Reports Third Quarter 2012 Financial Results

“During the third quarter of 2012, Puma made significant progress with the clinical development of our drug candidate PB272 and continued to build our corporate infrastructure,” said Alan H. Auerbach, Chief Executive Officer and President. “We will continue to move forward aggressively with the clinical development of PB272 during the remainder of 2012 and look forward to a strong clinical development program during 2013. Our clinical development plan includes (i) initiating our Phase III clinical trial of PB272 in combination with chemotherapy in HER2+ metastatic breast cancer patients who have failed previous HER2 directed therapy, which we anticipate will occur later this year or early next year; (ii) completing the ongoing Phase II trial of neratinib in combination with temsirolimus in fourth line HER2+ metastatic breast cancer, which we anticipate reporting additional data from later in 2012, and subsequently initiating the Phase III trial of the combination of neratinib plus temsirolimus, which we anticipate will begin in 2013; (iii) completing the ongoing Phase II trial of PB272 in patients with HER2+ metastatic breast cancer that has metastasized to the brain, which we also anticipate reporting data from in 2013; (iv) completing our ongoing Phase II trial of PB272 as a neoadjuvant treatment for patients with HER2+ breast cancer, which we expect to report data from in 2013; (v) initiating a Phase II trial of PB272 in patients with HER2 mutated non-small cell lung cancer, which we expect will occur later this year or early next year; and (vi) initiating a Phase II trial of PB272 in breast cancer patients with a newly identified genetic mutation, which we also expect will occur later this year.”

About Puma Biotechnology

Puma Biotechnology, Inc. is a development stage biopharmaceutical company that acquires and develops innovative products for the treatment of various forms of cancer. The Company focuses on in-licensing drug candidates that are undergoing or have already completed initial clinical testing for the treatment of cancer and then seeks to further develop those drug candidates for commercial use. The Company is initially focused on the development of PB272 (oral neratinib), a potent irreversible tyrosine kinase inhibitor, for the treatment of patients with HER2 positive metastatic breast cancer and non-small cell lung cancer.

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