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
WiEE: Circuits, switches, transformers & resistors.

Societies

WiEE: Circuits, switches, transformers & resistors.

Last Wednesday, Felix was given exclusive insight into Women in Electrical Engineering’s (WiEE) seminal event aimed at inspiring the next generation of female engineers. The “Tech for Good Hackathon” welcomed 75 girls from secondary schools across London for a day of interactive activities showcasing the opportunities within the field

By Cara Hogg and Lara Begüm Yener