Ultime notizie per Puma Biotechnology (NASDAQ:PBYI) Azioni

Puma Biotechnology

Puma Biotechnology Inc is a biopharmaceutical company that develops and commercializes innovative products to enhance cancer care and improve treatment outcomes for patients. It is currently commercializing NERLYNX, an oral version of neratinib, for the treatment of HER2-positive breast cancer. Also it develops alisertib. Alisertib is a selective, small-molecule inhibitor of aurora kinase A that is designed to disrupt mitosis leading to apoptosis of rapidly proliferating tumor cells that are dependent on aurora kinase A.

Puma Biotechnology Inc

HC Wainwright &amp; Co. analyst Edward White reiterates Puma Biotechnology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PBYI#NASDAQ">PBYI</a>) with a Buy and maintains $7 price target.

News

Price Target

Reiteration

Analyst Ratings

PBYI

HC Wainwright & Co. Reiterates Buy on Puma Biotechnology, Maintains $7 Price Target

Biotech

General

Puma Biotechnology Initiates ALISCA™-Breast1 Phase II Trial Of Alisertib In Hormone Receptor-Positive, HER2-Negative Metastatic Breast Cancer

Puma Biotechnology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PBYI#NASDAQ">PBYI</a>) .

Guidance

Puma Biotechnology expects Q424 Net Product Revenue: $46M-$48M; FY2024: $187M-$190M (Prev. $183M-$190M).

Puma Biotechnology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PBYI#NASDAQ">PBYI</a>) reported quarterly earnings of $0.45 per share which beat the analyst consensus estimate of $0.35 by 28.57 percent. The company reported quarterly sales of $80.500 million which beat the analyst consensus estimate of $70.650 million by 13.94 percent. This is a 43.49 percent increase over sales of $56.100 million the same period last year.

Earnings

Earnings Beats

Puma Biotechnology Q3 2024 Adj. EPS $0.45 Beats $0.35 Estimate, Sales $80.500M Beat $70.650M Estimate

<h3>Gainers</h3>
<ul>
<li>Inspire Veterinary (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IVP#NASDAQ">IVP</a>) stock rose 10.8% to $0.27 during Tuesday's after-market session. The company's market cap stands at $1.9 million. </li>
<li>CASI Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CASI#NASDAQ">CASI</a>) shares moved upwards by 9.44% to $6.14. The market value of their outstanding shares is at $94.9 million. </li>
<li>Shuttle Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHPH#NASDAQ">SHPH</a>) stock increased by 7.42% to $1.3. The market value of their outstanding shares is at $3.8 million. </li>
<li>Immunome (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMNM#NASDAQ">IMNM</a>) stock increased by 7.32% to $14.51. The market value of their outstanding shares is at $871.3 million. </li>
<li>Carmell (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTCX#NASDAQ">CTCX</a>) shares increased by 7.18% to $0.43. The market value of their outstanding shares is at $9.0 million. </li>
<li>Gritstone Bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRTS#NASDAQ">GRTS</a>) shares increased by 6.86% to $0.23. The market value of their outstanding shares is at $27.7 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Nuwellis (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUWE#NASDAQ">NUWE</a>) stock declined by 5.4% to $1.4 during Tuesday's after-market session. The market value of their outstanding shares is at $2.6 million. </li>
<li>Puma Biotechnology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PBYI#NASDAQ">PBYI</a>) stock declined by 5.0% to $2.47. The company's market cap stands at $119.1 million. </li>
<li>Agape ATP (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATPC#NASDAQ">ATPC</a>) shares fell 4.98% to $1.79. The company's market cap stands at $6.8 million. </li>
<li>Aerovate Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVTE#NASDAQ">AVTE</a>) shares decreased by 4.84% to $1.97. The company's market cap stands at $56.8 million. </li>
<li>Alpha Teknova (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TKNO#NASDAQ">TKNO</a>) shares decreased by 4.4% to $4.35. The market value of their outstanding shares is at $231.8 million. </li>
<li>Know Labs (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/KNW#AMEX">KNW</a>) stock declined by 4.2% to $0.27. The company's market cap stands at $29.0 million. 
See Also: <a href="http://www.benzinga.com/money/best-healthcare-stocks/" title="www.benzinga.com/money/best-healthcare-stocks/">www.benzinga.com/money/best-healthcare-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Movers

ATPC

AVTE

CASI

CTCX

GRTS

IMNM

NUWE

SHPH

TKNO

12 Health Care Stocks Moving In Tuesday's After-Market Session

Third Quarter and Full Year 2024 Financial Outlook
<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">Third Quarter 2024</td>
<td colspan="1" rowspan="1">Full Year 2024</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Net Product Revenue</td>
<td colspan="1" rowspan="1">$50 -53 million</td>
<td colspan="1" rowspan="1">$183 - $190 million</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Royalty Revenue</td>
<td colspan="1" rowspan="1">$20 - $22 million</td>
<td colspan="1" rowspan="1">$30 - $33 million</td>
</tr>
<tr>
<td colspan="1" rowspan="1">License Revenue</td>
<td colspan="1" rowspan="1">$0 million</td>
<td colspan="1" rowspan="1">$1 - $2 million</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Net Income</td>
<td colspan="1" rowspan="1">$11 - $13 million</td>
<td colspan="1" rowspan="1">$12 - $15 million</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Gross to Net Adjustment</td>
<td colspan="1" rowspan="1">18.5% - 19.5%</td>
<td colspan="1" rowspan="1">21% - 22%</td>
</tr>
</tbody>
</table>
</figure>
 &nbsp;

Puma Biotechnology Sees Q3 Revenue $50M-$53M Vs $57.85M Est.; FY24 Revenue $183M-$190M Vs $217.63M Est.

Puma Biotechnology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PBYI#NASDAQ">PBYI</a>) reported quarterly losses of $(0.05) per share which beat the analyst consensus estimate of $(0.13) by 61.54 percent. The company reported quarterly sales of $47.100 million which beat the analyst consensus estimate of $44.700 million by 5.37 percent. This is a 13.74 percent decrease over sales of $54.600 million the same period last year.

Puma Biotechnology Q2 2024 Adj. EPS $(0.05) Beats $(0.13) Estimate, Sales $47.100M Beat $44.700M Estimate

During the last three months, 5 analysts shared their evaluations of Puma Biotechnology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PBYI#NASDAQ">PBYI</a>), revealing diverse outlooks from bullish to bearish.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $7.0, a high estimate of $7.00, and a low estimate of $7.00. The average price target has stayed the same, reflecting a consistent view from analysts. 
<img src="https://www.benzinga.com/files/images/story/2024/1722027698_0.png" alt="price target chart" />
<h2>Understanding Analyst Ratings: A Comprehensive Breakdown</h2>
A comprehensive examination of how financial experts perceive Puma Biotechnology is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Edward White</td>
<td>HC Wainwright &amp; Co.</td>
<td>Maintains</td>
<td>Buy</td>
<td>$7.00</td>
<td>$7.00</td>
</tr>
<tr>
<td>Edward White</td>
<td>HC Wainwright &amp; Co.</td>
<td>Maintains</td>
<td>Buy</td>
<td>$7.00</td>
<td>$7.00</td>
</tr>
<tr>
<td>Edward White</td>
<td>HC Wainwright &amp; Co.</td>
<td>Maintains</td>
<td>Buy</td>
<td>$7.00</td>
<td>$7.00</td>
</tr>
<tr>
<td>Edward White</td>
<td>HC Wainwright &amp; Co.</td>
<td>Maintains</td>
<td>Buy</td>
<td>$7.00</td>
<td>$7.00</td>
</tr>
<tr>
<td>Edward White</td>
<td>HC Wainwright &amp; Co.</td>
<td>Maintains</td>
<td>Buy</td>
<td>$7.00</td>
<td>$7.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Puma Biotechnology. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Puma Biotechnology compared to the broader market.</li>
<li>Price Targets: Gaining insights, analysts provide estimates for the future value of Puma Biotechnology's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of Puma Biotechnology's market position. Stay informed and make well-informed decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/PBYI/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Puma Biotechnology analyst ratings.</a>
If you are interested in following small-cap stock news and performance <a href="https://www.benzinga.com/news/small-cap">you can start by tracking it here</a>.
<h2>All You Need to Know About Puma Biotechnology</h2>
Puma Biotechnology Inc is a biopharmaceutical company that develops and commercializes innovative products to enhance cancer care and improve treatment outcomes for patients. It is currently commercializing NERLYNX, an oral version of neratinib, for the treatment of HER2-positive breast cancer. Also it develops alisertib. Alisertib is a selective, small-molecule inhibitor of aurora kinase A that is designed to disrupt mitosis leading to apoptosis of rapidly proliferating tumor cells that are dependent on aurora kinase A.
<h3>A Deep Dive into Puma Biotechnology's Financials</h3>
Market Capitalization: Surpassing industry standards, the company's market capitalization asserts its dominance in terms of size, suggesting a robust market position.
Revenue Challenges: Puma Biotechnology's revenue growth over 3 months faced difficulties. As of 31 March, 2024, the company experienced a decline of approximately -17.07%. This indicates a decrease in top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Health Care sector.
Net Margin: Puma Biotechnology's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of -11.0%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): Puma Biotechnology's ROE stands out, surpassing industry averages. With an impressive ROE of -9.22%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Puma Biotechnology's ROA excels beyond industry benchmarks, reaching -2.17%. This signifies efficient management of assets and strong financial health.
Debt Management: Puma Biotechnology's debt-to-equity ratio is notably higher than the industry average. With a ratio of 2.17, the company relies more heavily on borrowed funds, indicating a higher level of financial risk.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Where Puma Biotechnology Stands With Analysts

Ratings for Puma Biotechnology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PBYI#NASDAQ">PBYI</a>) were provided by 4 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $7.0, a high estimate of $7.00, and a low estimate of $7.00. This current average has not changed from the previous average price target. 
<img src="https://www.benzinga.com/files/images/story/2024/1717513301_0.png" alt="price target chart" />
<h2>Interpreting Analyst Ratings: A Closer Look</h2>
The standing of Puma Biotechnology among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Edward White</td>
<td>HC Wainwright &amp; Co.</td>
<td>Maintains</td>
<td>Buy</td>
<td>$7.00</td>
<td>$7.00</td>
</tr>
<tr>
<td>Edward White</td>
<td>HC Wainwright &amp; Co.</td>
<td>Maintains</td>
<td>Buy</td>
<td>$7.00</td>
<td>$7.00</td>
</tr>
<tr>
<td>Edward White</td>
<td>HC Wainwright &amp; Co.</td>
<td>Maintains</td>
<td>Buy</td>
<td>$7.00</td>
<td>$7.00</td>
</tr>
<tr>
<td>Edward White</td>
<td>HC Wainwright &amp; Co.</td>
<td>Maintains</td>
<td>Buy</td>
<td>$7.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Puma Biotechnology. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Puma Biotechnology compared to the broader market.</li>
<li>Price Targets: Analysts navigate through adjustments in price targets, providing estimates for Puma Biotechnology's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
For valuable insights into Puma Biotechnology's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/PBYI/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Puma Biotechnology analyst ratings.</a>
If you are interested in following small-cap stock news and performance <a href="https://www.benzinga.com/news/small-cap">you can start by tracking it here</a>.
<h2>Unveiling the Story Behind Puma Biotechnology</h2>
Puma Biotechnology Inc is a biopharmaceutical company that develops and commercializes innovative products to enhance cancer care and improve treatment outcomes for patients. It is currently commercializing NERLYNX, an oral version of neratinib, for the treatment of HER2-positive breast cancer. Also it develops alisertib. Alisertib is a selective, small-molecule inhibitor of aurora kinase A that is designed to disrupt mitosis leading to apoptosis of rapidly proliferating tumor cells that are dependent on aurora kinase A.
<h3>Puma Biotechnology's Financial Performance</h3>
Market Capitalization: Exceeding industry standards, the company's market capitalization places it above industry average in size relative to peers. This emphasizes its significant scale and robust market position.
Negative Revenue Trend: Examining Puma Biotechnology's financials over 3 months reveals challenges. As of 31 March, 2024, the company experienced a decline of approximately -17.07% in revenue growth, reflecting a decrease in top-line earnings. When compared to others in the Health Care sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of -11.0%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): Puma Biotechnology's ROE excels beyond industry benchmarks, reaching -9.22%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Puma Biotechnology's ROA excels beyond industry benchmarks, reaching -2.17%. This signifies efficient management of assets and strong financial health.
Debt Management: Puma Biotechnology's debt-to-equity ratio stands notably higher than the industry average, reaching 2.17. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
<h2>How Are Analyst Ratings Determined?</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Beyond The Numbers: 4 Analysts Discuss Puma Biotechnology Stock

Puma Biotechnology Presents Phase I/Ib Study On Alisertib For Osimertinib-Resistant EGFR-Mutated Lung Cancer At ASCO 2024

Puma Biotechnology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PBYI#NASDAQ">PBYI</a>), a biopharmaceutical company, announced the presentation of biomarker findings from a Phase II randomized clinical trial of alisertib alone vs. alisertib + fulvestrant for the treatment of patients with endocrine and CDK4/6 inhibitor (CDK 4/6i) resistant, human epidermal growth factor receptor 2-negative (HER2-negative), hormone receptor-positive metastatic breast cancer (TBCRC 041; Clinicaltrials.gov identifier NCT02860000) at the 2024 American Society of Clinical Oncology (ASCO) Annual Meeting currently being held in Chicago. The Phase II trial was conducted through the Translational Breast Cancer Research Consortium (TBCRC). Results were published by Tufia Haddad et al. (JAMA Oncology, March 2023) and reported promising clinical activity in both arms (overall response rate 19.6% vs. 20.0% and median progression-free survival 5.6 months vs. 5.4 months for alisertib vs. alisertib + fulvestrant, respectively) and a tolerable safety profile.

Events

Puma Biotechnology Announced Presentation of Findings From Phase II Study Of Alisertib In Endocrine-Resistant Metastatic Breast Cancer ASCO 2024

Puma Biotechnology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PBYI#NASDAQ">PBYI</a>), a biopharmaceutical company, is set to join the broad-market Russell 3000&#xAE; Index at the conclusion of Russell Investments' annual reconstitution of its comprehensive set of U.S. and global equity indexes on June 28 and effective after U.S. markets open on July 1, according to a preliminary list of additions posted on May 24.

Puma Biotechnology To Join Russell 3000 Index

A Delaware federal jury has determined that&nbsp;AstraZeneca Plc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>) must pay&nbsp;Pfizer&nbsp;Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) $107.5 million in damages, concluding that AstraZeneca&#8217;s blockbuster lung cancer drug, Tagrisso, infringed on Pfizer&#8217;s Wyeth unit&#8217;s patent rights.&nbsp;
The jury found that AstraZeneca&#8217;s Tagrisso violated two patents held by Pfizer, which cover methods for treating cancer using the breast cancer drug Nerlynx.&nbsp;
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/04/38490415/double-good-news-for-astrazenecas-breast-cancer-drugs" rel="noreferrer noopener">Double Good News For AstraZeneca&#8217;s Breast Cancer Drugs</a>.
Puma Biotechnology&nbsp;Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PBYI#NASDAQ">PBYI</a>), which sells Nerlynx under a license from Pfizer, was initially&nbsp;part of&nbsp;the lawsuit but is no longer a plaintiff.
AstraZeneca expressed disappointment with the verdict.&nbsp;Citing the company&#8217;s spokesperson, Reuters noted that it is &#8220;confident in our IP position&nbsp;in relation to&nbsp;Tagrisso&#8221; and plans to &#8220;vigorously defend&#8221; its rights.&nbsp;
Despite the setback, AstraZeneca maintains that its drug does not infringe on the patents and argues that patents&nbsp;themselves&nbsp;are invalid.
Read Next:&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/05/38710835/pfizer-agrees-to-settle-over-10-000-lawsuits-about-cancer-risks-associated-with-discontinued-hear" rel="noreferrer noopener">Pfizer Agrees To Settle Over 10,000 Lawsuits About Cancer Risks Associated With Discontinued Heartburn Drug Zantac</a>.
Pfizer initiated the lawsuit against AstraZeneca in 2021, arguing that Tagrisso&#8217;s use of kinase inhibitors to treat cancer mirrored&nbsp;the method used by Nerlynx.&nbsp;In 2023, AstraZeneca reported Tagrisso&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/02/37005521/astrazeneca-stock-tumbles-after-q4-performance-heres-why" rel="noreferrer noopener">sales of&nbsp;$5.8 billion</a>.
The case&nbsp;is not yet&nbsp;fully resolved.&nbsp;U.S. District Judge Matthew Kennelly&nbsp;is scheduled&nbsp;to hold a separate bench trial in June to address some of AstraZeneca&#8217;s remaining defenses.&nbsp;
This forthcoming trial could alter the outcome of the jury&#8217;s decision, adding another layer of uncertainty to the ongoing legal battle.
On Monday, AstraZeneca also&nbsp;<a target="_blank" href="https://www.astrazeneca.com/media-centre/press-releases/2024/astrazeneca-to-manufacture-adcs-in-singapore.html" rel="noreferrer noopener">announced</a>&nbsp;its plans to build a $1.5 billion manufacturing facility in Singapore to produce antibody-drug conjugates, a category of cancer-killing drugs.
The Singapore Economic Development Board will support the facility, which will be AstraZeneca&#8217;s first end-to-end ADC production site.&nbsp;
The company said the facility&#8217;s construction will begin by the end of 2024 and should be operational by 2029. It added that it will have zero carbon emissions from its first day of operations.
Price Action: AZN shares are up 0.16% at $77.03 at last check Monday.
Photo via Shutterstock

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