Puma Biotechnology Inc. announced Tuesday that the company would move its stock listing from the New York Stock Exchange to the Nasdaq effective Jan., 3.
The Santa Monica drug-maker said in a statement said the new listing would align it with more brands in the bio-pharmaceutical space giving it more visibility.
“Nasdaq is considered a great fit for Puma as it is home to many world-class biopharmaceutical companies,” Alan H. Auerbach, chief executive and president of Puma Biotechnology, said in a statement. “This move will enhance Puma’s public visibility while offering efficient access to a portfolio of tools and opportunities to our stockholders.”
The company’s stock has had a roller coaster year. It began 2016 at near $80, plunged to under $22 in May, shot back above $70 in September, and is currently trading around $35. It closed Tuesday at $34.50.
Deals & Dealmakers reporter Henry Meier can be reached at firstname.lastname@example.org. Follow him on Twitter @henry_meier.