Business

From bad to worse for Puma Biotechnology

From bad to worse for Puma Biotechnology

If you want a good example of how volatile biotechnology stocks can be, look no further than Puma Biotechnology Inc. This cancer-focused biotechnology company was founded 8 years ago and went public in 2012 with shares trading around $10 per share. In 2014 that share price rocketed to +$260 following positive clinical trials for the breast cancer drug Nerlynx, which contributed towards the company’s valuation at $10 billion. Following this, mixed research results and delays in approval processes have caused the company share price to swing wildly with the stock price plummeting almost 80% this year. Shares plunged a further 48% on Friday 2nd November after the company reported disappointing sales of $52.6 million for Nerlynx, below expectations of $58.1 million. Furthermore, Puma Biotech indicated that the percentage of patients who discontinued the use of Nerlynx as a result of adverse events had increased to about 18%, which only added to the sell-off. The good news for shareholders is that this massive sell-off is probably overdone. Nerylnx’s sales are likely to increase as the drug becomes more globally used, which may indicate that this stock is currently at a bargain price.

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Investment banks relish in hawkish environment

Investment banks relish in hawkish environment

It is a well-known fact that when interest rates are hiked, investment banks increase their profitability due to their massive cash holdings. Increasing the interest rates directly increases the yield on the cash it holds, and the proceeds go directly into the income statement. Furthermore, interest rate hikes tend to

By Tom Alston
Peter Haynes to take over Provost role in October

News

Peter Haynes to take over Provost role in October

Professor Peter Haynes has been appointed as the new Provost and Deputy President of Imperial College. The current  Vice-Provost for Education and Student Experience, Haynes will succeed the outgoing Provost, Professor Ian Walmsley, who has served in the role since 2018. Imperial President Hugh Brady said Professors Haynes and Walmsley

By Guillaume Felix
Why RAG’s bungee jump event never took place

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Why RAG’s bungee jump event never took place

Earlier this academic year, Imperial Raising and Giving (RAG), had announced the return of their charity bungee jump after a hiatus of 10 years. The event, however, was postponed several times, and Felix can now reveal why it was cancelled. The event, initially scheduled for November 13th, was postponed several

By Mohammad Majlisi and Nadeen Daka
Palestine protests ramp up as year ends and tensions rise

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Palestine protests ramp up as year ends and tensions rise

Saturday 7th June: Pro-Palestinian protestors hold banners as they stand on ALERT at the Great Exhibition Road Festival. Tuesday 10th June: A student announces a hunger strike asking for Imperial to investigate Islamophobia and anti-Arab racism, form a student-staff working group on ethical investment, and divest from arms companies accused

By Mohammad Majlisi