According to the company, the proceeds from the financing will be used to fund the continued clinical development of PB-272 (oral neratinib).
PB-272 (oral neratinib) is an irreversible tyrosine kinase inhibitor, used to treat HER2 positive metastatic breast cancer.
Leerink Swann has been the lead placement agent and National Securities was the co-placement agent for the second round of financing.
Puma Biotechnology is known for development of products for the treatment of various forms of cancer, besides in-licensing drug candidates that are undergoing or have already completed initial clinical testing for the treatment of cancer.