Shares of Puma Biotechnology Inc. surged 68 percent on Thursday after the cancer drug developer previewed clinical trial results from its lead drug candidate.

The West L.A. biotech reported better-than-expected results from mid-stage tests of its experimental breast cancer drug, Neratinib. The drug is administered in conjunction with the chemotherapy drug paclitaxel, then followed by two other chemotherapy treatments.

Full results of the trial will be presented at an upcoming scientific meeting, the company said.

Shares closed up $31.49, or 68 percent, to $77.70 on the New York Stock Exchange.