Puma Biotechnology Reports Inducement Awards Under Nasdaq Listing Rule 5635(c)(4)

LOS ANGELES–(BUSINESS WIRE)–Puma Biotechnology, Inc. (NASDAQ: PBYI), a biopharmaceutical company,
announced that on October 9, 2018, the Compensation Committee of Puma’s
Board of Directors approved the grant of inducement restricted stock
unit awards covering an aggregate of 18,750 shares of Puma common stock
to two new non-executive employees.

The awards were granted under Puma’s 2017 Employment Inducement
Incentive Award Plan, which was adopted on April 27, 2017, and provides
for the granting of equity awards to new employees of Puma. The
restricted stock unit awards vest over a three-year period, with
one-third of the shares underlying each award vesting on the first
anniversary of the award’s vesting commencement date, October 1, 2018,
and one-sixth of the shares underlying each award vesting on each
six-month anniversary of the vesting commencement date thereafter,
subject to continued service. The awards were granted as an inducement
material to the new employees entering into employment with Puma, in
accordance with Nasdaq Listing Rule 5635(c)(4).

About Puma Biotechnology

Puma Biotechnology, Inc. is a biopharmaceutical company with a focus on
the development and commercialization of innovative products to enhance
cancer care. The Company in-licenses the global development and
commercialization rights to three drug candidates — PB272 (neratinib,
oral), PB272 (neratinib, intravenous) and PB357. Neratinib, oral was
approved by the U.S. Food and Drug Administration in July 2017 for the
extended adjuvant treatment of adult patients with early stage
HER2-overexpressed/amplified breast cancer, following adjuvant
trastuzumab-based therapy, and is marketed in the United States as
NERLYNX® (neratinib) tablets. NERLYNX was granted marketing
authorization by the European Commission for the extended adjuvant
treatment of hormone receptor-positive HER2-positive early stage breast
cancer in September 2018. NERLYNX is a registered trademark of Puma
Biotechnology, Inc.


Alan H. Auerbach or Mariann Ohanesian, Puma Biotechnology, Inc., +1 424
248 6500
Schull or Alex Fudukidis, Russo Partners, +1 212 845 4200


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