Puma Biotechnology shares tank after CHMP looks ready to hit a red light on neratinib
Six months after Puma Biotechnology won an FDA OK for its cancer therapy neratinib, the EMA looks like its preparing to throw up a big roadblock into Europe over concerns its regulators have about the drug. And the news immediately triggered another sharp turn for the biotech’s stock $PBYI, which plunged 27% in after-market trading.
Analysts have been fretting over the European decision for months now, noting that a scientific advisory group meeting called by the EMA suggested that Puma faced some broad challenges that extended beyond the evidence of severe diarrhea linked to the drug.
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