NEW YORK (TheStreet) -- Shares of Puma Biotechnology
(PBYI) are up an astounding 275% in early Wednesday trading, making it the focal point on CNBC's "Cramer's Mad Dash" segment.
TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said the company reported a "remarkable number" when it came to its breast cancer treatment trial.
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The Phase III test consisted of 2,821 women, 33% of whom walked away as disease-free survivors.
"This is why it's so hard" to value biotech stocks, Cramer concluded, in reference to Fed
chair Janet Yellen's recent remarks about small-cap biotech companies having a stretched valuation.
-- Written by Bret Kenwell in Petoskey, Mich.