Los Angeles Business Journal

Drug Maker Puma Biotechnology Inc. Moves Stock Listing to Nasdaq

By Henry Meier Tuesday, December 20, 2016

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 hmeier@labusinessjournal.com. Follow him on Twitter @henry_meier.