Puma Pumps up Biotech ETFs

July 23, 2014 3:26 PM

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Shares of Puma Biotechnology (NYSE: PBYI) are up more than 277% Wednesday on volume that is already better than 10 times the daily average after the company said its experimental breast cancer treatment, neratinib, proved successful in a Phase III trial.

“The primary endpoint of the trial was disease free survival (DFS). The results of the trial demonstrated that treatment with neratinib resulted in a 33% improvement in disease free survival versus placebo. The hazard ratio was determined to be 0.67 which was statistically significant with a p-value...

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