Puma Biotechnology (PBYI) Stock Plunges on Delayed Marketing Application
Puma Biotechnology (PBYI) stock is lower in early-morning trading on Tuesday after the company announced that it will delay filing its New Drug Application (NDA) for a breast cancer drug.
NEW YORK (TheStreet) -- Puma Biotechnology (PBYI) stock is plummeting by 20.95% to $27.84 in early-morning trading on Tuesday, after the company announced that it will postpone filing a marketing application for a breast cancer drug.
The delay comes after the FDA requested changes in the study's data analysis plan, according to a statement.
The company plans to file a marketing application with the FDA in mid-2016 for its breast-cancer drug neratinib. This is later than the first-quarter filing deadline that was originally scheduled, MarketWatch reports.
Puma Biotechnology is a Los Angeles-based biopharmaceutical company.
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