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Fly News Breaks for May 22, 2017
PBYI
May 22, 2017 | 13:02 EDT
Today's FDA briefing documents for Puma Biotechnology's neratinib in the extended adjuvant setting were "overall more brief than expected and contained language that was relatively neutral in tone," Cowen analyst Chris Shibutani tells investors in a research note. The documents do not include statements indicative of the FDA having a particularly negative or positive bias, the analyst contends. He adds, however, that the absence of meaningful new "unknown" issues is an incremental positive. Shibutani keeps a Market Perform rating on shares of Puma. The stock is well off its highs but remains up 32% to $50.10 in afternoon trading.
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