July 22 Puma Biotechnology Inc said its experimental cancer drug met its main goal in a late-stage trial, sending its shares up about 186 percent in extended trading.
The drug neratinib, codenamed PB272, is being studied as a potential adjuvant treatment for breast cancer.
Adjuvant treatment, or additional treatment, is given after the primary treatment.
Treatment with neratinib showed a statistically significant improvement in disease-free survival of 33 percent versus patients who on placebo, according to the trial data.
The patients were treated with neratinib after adjuvant treatment with the cancer drug trastuzumab in women with early-stage HER2-positive breast cancer.
Puma said it intends to file for marketing approval in the first half of 2015.
Shares of the company were had closed at $59.03 on the New York Stock Exchange on Tuesday. (Reporting by Shailesh Kuber; Editing by Joyjeet Das)