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Puma Biotechnology prices public offering and raises $120M

By Peter Winter
BioWorld Insight Editor

Tuesday, February 11, 2014
Los Angeles-based Puma Biotechnology Inc. is on a roll. Fresh off receiving a favorable decision from the European Patent Office last week, which upheld the claims related to its licensed European patent that were being opposed by Boehringer Ingelheim International GmbH, the company leveraged its soaring share price by raising $120 million from an underwritten public offering selling 979,592 shares of its common stock at $122.50 each.

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