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Actionable news in PBYI: PUMA BIOTECHNOLOGY INC,

As previously

On November18, 2015, Holder filed a Definitive Consent Statement (the Definitive Consent Statement) with the Securities and Exchange Commission (the SEC). Holder may have also already delivered the Definitive Consent Statement and other consent solicitation materials to stockholders of the Company (the Consent Solicitation). The Companys Board has evaluated the limited information that Holder has made available in the Definitive Consent Statement and other filings Holder has made with the SEC and concluded that Holders proposals are not in the best interests of the Company or the Companys stockholders. The Board believes that Holders efforts to increase the size of the Board and to appoint Holders nominees to the Board is a disruptive and value destructive exercise and believes that Holder is pursuing his own agenda and will not act in the best interest of all of the stockholders of the Company.

As such, the Board strongly recommends that stockholders reject Holders Consent Solicitation by

NOT

signing or returning any WHITE consent card they may have received from Holder.

The Company plans to file a consent revocation statement with the SEC that will enable it to solicit the revocation of any consents stockholders may have already submitted in respect of Holders proposals. The consent revocation statement will provide additional detail regarding the Boards recommendation. In summary, the Board considered the following compelling reasons, among others, in reaching its conclusion to recommend that stockholders reject Holders Consent Solicitation:

The Board is committed to the Companys current business plan, which is focused on improving patient care by developing and commercializing innovative products to enhance cancer care. While the Companys common stock may have suffered a decline in value in recent months, the Companys business remains strong and productive. The Company continues to make significant progress with the clinical program for its lead product candidate, PB272 (neratinib), and anticipates filing for regulatory approval of PB272 for the extended adjuvant treatment of HER2-positive breast cancer in the first quarter of 2016. Additionally, the Company is expecting a number of additional milestones relating to various clinical trials in other cancer-related indications through the end of 2015 and beyond.

The current members of the Board possess a well-diversified range of experience and all Board members other than Alan H. Auerbach, the Companys President and Chief Executive Officer, are independent under the standards of the New York Stock Exchange and the SEC. Moreover, the current Board includes two recent additions who provide additional expertise in the field of biotechnology investments and clinical and regulatory affairs. In addition, the Company believes that the size of the Board is appropriate for effectively governing the Company. A five-member Board fosters active participation and contribution from each of the directors and also provides for efficient decision-making.

The Companys current Board has the experience necessary to...


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