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Puma Biotechnology Announces Completion of Private Placement
Date:11/23/2011

LOS ANGELES, Nov. 23, 2011 /PRNewswire/ -- Puma Biotechnology, Inc., a development stage biopharmaceutical company, today announced that on November 18, 2011, the Company completed the second tranche of its $60 million private financing. In the first tranche, announced on October 5, 2011, Puma sold approximately 14.7 million shares of its common stock to institutional investors at a purchase price of $3.75 per share, resulting in gross proceeds of $55 million.  In this second tranche, the Company sold approximately 1.3 million shares of its common stock to accredited investors at the same purchase price of $3.75 per share for gross proceeds of $5 million.  Proceeds from the financing will be used primarily to fund the continued clinical development of PB-272 (oral neratinib).

Leerink Swann LLC acted as lead placement agent and National Securities Corporation acted as co-placement agent for the second tranche of Puma's private financing. 

The securities sold in Puma's private financing have not been registered under the Securities Act of 1933, as amended, or state securities laws and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission or an applicable exemption from the registration requirements.  This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

About Puma Biotechnology

Puma Biotechnology, Inc., is a development stage biopharmaceutical company that acquires and develops innovative products for the treatment of various forms of cancer.  The Company focuses on in-licensing drug candidates that are undergoing or have already completed initial clinical testing
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SOURCE Puma Biotechnology, Inc.
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