Puma Biotechnology, Inc. (the Company) (Nasdaq: PBYI), a biopharmaceutical company, announced that it has entered into a securities purchase agreement with Alan H Auerbach, the Company’s Chief Executive Officer, President and Chairman of the Board, as well as a fund of Athyrium Capital Management, LP, a specialized asset management company focused on opportunities in the global healthcare sector, in connection with the sale in a private placement of 3,584,228 shares of common stock at a purchase price of $2.79 per share, which was the closing price of the common stock on the Nasdaq Global Select Market on the date of the securities purchase agreement. Gross proceeds to the Company will be approximately $10 million before deducting any offering expenses. The Company plans to use the net proceeds from the private placement primarily for general corporate purposes.
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