* Puma Biotechnology (PBYI) - Stock Explodes 220% After Hours on FDA Trial Results: Potential Cure for Breast Cancer

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PBYI closed trading at $59.03, up small with IV30™ down 4.6%. The Symbol Summary is included below.

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UPDATE: 7-23-2014

Provided by Livevol

The stock is up $169 or 287% essentially because there is evidence they have found a cure for a type of breast cancer.

Puma Biotechnology, Inc. is a development-stage biopharmaceutical company that acquires and develops products for the treatment of various forms of cancer.

After hours the stock is trading up $130 or 220%

Disease Free Survival Endpoint Achieved

Here's a snippet of the news, which is very exciting as it points to not just a treatment, but a potential cure of breast cancer:

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the ExteNET trial enrolled 2,821 patients in 41 countries with early-stage HER2-positive breast cancer who had undergone surgery and adjuvant treatment with trastuzumab. After completion of adjuvant treatment with trastuzumab, patients were randomized to receive extended adjuvant treatment with either neratinib or placebo for a period of one year. Patients were then followed for recurrent disease, ductal carcinoma in situ (DCIS), or death for a period of two years after randomization in the 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 of 0.0046. The secondary endpoint of the trial was disease free survival including ductal carcinoma in situ (DFS-DCIS). The results of the trial demonstrated that treatment with neratinib resulted in a 37% improvement in disease free survival including ductal carcinoma in situ versus placebo. The hazard ratio was determined to be 0.63 which was statistically significant with a p-value of 0.0009. Based on these results from the ExteNET study, Puma plans to file for regulatory approval of neratinib in the extended adjuvant setting in the first half of 2015.

Full results of the ExteNET trial for PB272 will be presented at a future scientific meeting

Source: Los Angeles Business Wire: Puma Biotechnology Announces Positive Top Line Results from Phase III PB272 Trial in Adjuvant Breast Cancer (ExteNET Trial)
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And how did the options look before hand?...

Provided by Livevol

The Aug 60 straddle priced in a move of ~$15...  The stock has moved $130 in AH.

This is trade analysis, not a recommendation.

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