Puma Biotechnology shares are down 11% after the company announced last night that its lead product Nerlyx is commercially available by prescription in the United States. Puma has frequently been discussed as a potential takeover target, and some investors associate the availability of Nerylyx negatively with respect to the sales prospects of the company, Leerink analyst Michael Schmidt tells investors in an intraday research note. He says that while a potential buyout could yield near-term upside of 50%-75%, the timing of acquisitions are always difficult to predict accurately. Schmidt's thesis on the shares is based on underlying fundamentals, which he views as "compelling." The analyst reiterates an Outperform rating on Puma and recommends buying the stock on today's selloff. The shares in midday trading are down 11%, or $10.22, to $84.83.