- Puma Biotechnology (NYSE:PBYI) rallies 20% in premarket trading.
- Investors appear pleased with top-line data from a Phase 2 study of neratinib in breast cancer (data released Wednesday evening).
- BofA has lifted the price target on the shares to $87 from $71, saying "much awaited I-SPY2 top-line results show PBYI's next generation HER2 kinase inhibitor is superior to Herceptin in the neoadjuvant breast cancer setting in a Taxol containing regimen."
- Meanwhile, FierceBiotech's John Carroll calls the study "anything but traditional" in a story that carries the rather colorful headline, "I-SPY a controversy over Puma's positive Phase 2 test of neratinib."
- See: Puma releases "positive" results from neratinib trial