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Puma Biotechnology Reports Inducement Awards Under Nasdaq Listing Rule 5635

LOS ANGELES–(BUSINESS WIRE)–Puma Biotechnology, Inc. (NASDAQ: PBYI), a biopharmaceutical company,
announced that on May 3, 2019 the Compensation Committee of Puma’s Board
of Directors approved the grant of inducement restricted stock unit
awards covering an aggregate of 49,125 shares of Puma common stock to
nine new non-executive employees.

The awards were granted under Puma’s 2017 Employment Inducement
Incentive Award Plan, which was adopted on April 27, 2017 and provides
for the granting of equity awards to new employees of Puma. The
restricted stock unit awards vest over a three-year period, with
one-third of the shares underlying each award vesting on the first
anniversary of the award’s vesting commencement date, May 1, 2019, and
one-sixth of the shares underlying each award vesting on each six-month
anniversary of the vesting commencement date thereafter, subject to
continued service. The awards were granted as an inducement material to
the new employees entering into employment with Puma, in accordance with
Nasdaq Listing Rule 5635(c)(4).

About Puma Biotechnology

Puma Biotechnology, Inc. is a biopharmaceutical company with a focus on
the development and commercialization of innovative products to enhance
cancer care. The Company in-licenses the global development and
commercialization rights to three drug candidates — PB272 (neratinib,
oral), PB272 (neratinib, intravenous) and PB357. Neratinib, oral was
approved by the U.S. Food and Drug Administration in July 2017 for the
extended adjuvant treatment of adult patients with early stage
HER2-overexpressed/amplified breast cancer, following adjuvant
trastuzumab-based therapy, and is marketed in the United States as
NERLYNX® (neratinib) tablets. NERLYNX was granted marketing
authorization by the European Commission in September 2018 for the
extended adjuvant treatment of adult patients with early stage hormone
receptor-positive HER2-overexpressed/amplified breast cancer and who are
less than one year from completion of prior adjuvant trastuzumab-based
therapy. NERLYNX is a registered trademark of Puma Biotechnology, Inc.

Contacts

Alan H. Auerbach or Mariann Ohanesian, Puma Biotechnology, Inc., +1 424
248 6500
[email protected]
[email protected]

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