Puma Biotechnology Inc., whose breast cancer drug drew millions in sales since it was released last summer, has been added to the Nasdaq Biotechnology Index.
The West Los Angeles biopharmaceutical company announced Thursday it had been selected for the biotech index as part of its annual re-ranking of biosciences and pharmaceutical companies listed on the Nasdaq Stock Market.
Puma will be added to the Nasdaq Biotechnology Index before the market opens on Monday, Dec. 18.
The index is a modified market capitalization metric designed to track the performance of a set of securities listed on the Nasdaq exchange.
Puma Bio last month reported third-quarter net loss of $77.2 million ($2.07 a share), compared to a net loss of $65.8 million ($2.02) in the same quarter a year earlier.
Revenue for the biotech firm founded by Alan H. Auerbach was $6.1 million, fueled by initial sales since July of its Nerlynx cancer drug for early stage HER2-positive breast cancer. The drug moved closer this week toward pending approval in Europe.
Health business reporter Dana Bartholomew can be reached at firstname.lastname@example.org. Follow him on Twitter @_DanaBart.
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