Does Puma Biotechnology's Approval Make It Worth More?

Does Puma Biotechnology's Approval Make It Worth More?

Puma Biotechnology's (NASDAQ: PBYI) roller-coaster ride to approval is finally over. After fits and starts in clinical trials, the FDA gave the company's breast cancer drug, Nerlynx, a green light, clearing the way to its commercialization later this year. The decision is welcome news to investors who have endured violent moves in the company's share price over the past two years. Will shares continue higher now that an approval is in hand, or will they drop? 

Alan Auerbach is Puma Biotechnology's founder and CEO, and this isn't his first rodeo. Previously, Auerbach was the founder and CEO of Cougar Biotechnology, the company that developed the multibillion-dollar prostate cancer drug Zytiga, which Johnson & Johnson acquired for $1 billion in 2009.

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Source: Fool.com