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Today’s Research Reports on Stocks to Watch: Puma Biotechnology and Neovasc

NEW YORK, NY / ACCESSWIRE / May 11, 2018 / Puma Biotechnology shares sank on Thursday after it revealed concerning information about Nerlynx, a prescription medicine used to treat adults who have early-stage breast cancer, as well as its first quarter earnings. Shares of Neovasc sunk in after-hours trading yesterday after its own first quarter results didn’t par well with investors.

RDI Initiates Coverage on:

Puma Biotechnology, Inc.

Neovasc Inc.

Puma Biotechnology, Inc. shares closed down 20.67% on almost 5.5 million shares traded yesterday. The biotech company saw its shares drop after it reported its first quarter earnings report Wednesday after the close. The stock dropped on concerns over the company's Nerlynx drug, which is intended as a treatment to stop breast cancer from recurring following treatment with Herceptin. Analyst predicted peak annual sales of $1 billion for Nerlynx. Given the high number of people being affected by breast cancer every year, this high sales number is achievable, but the company will have to prove the side effects caused by Nerlynx won't prevent patients from remaining on treatment for long periods. The drug has seen a worrying 23.7% discontinuation rate so far from patients receiving their treatment from specialty pharmacies. For the first quarter, the company reported a loss of $24.3 million or $0.65 on a per share basis. This was better than the loss per share of $0.75 expected by the analyst and loss of $1.97 per share in the first quarter of last year. Earnings adjusted for stock-based compensation expense, which represents a significant portion of overall expense, were 2 cents a share. Revenue was $66.5 million. CEO Alan H. Auerbach stated, "We made substantial progress in the commercialization of our lead product, NERLYNX® (neratinib), during the first quarter of 2018. We quickly built momentum in the U.S. market, with net sales steadily rising since our launch. Our exclusive licensing agreements to date, with Pint Pharma in Latin America, CANbridge in mainland China and Taiwan, Medison Pharma in Israel, and Specialised Therapeutics Asia in South East Asia, demonstrate our commitment to also make NERLYNX accessible to patients globally while we continue to grow the U.S. market".

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Neovasc Inc. shares may have closed up 3.67% on Thursday but they collapsed in after-hours trading and fell a little over 26%. The company, which is involved with the development of minimally invasive transcatheter mitral valve replacement technologies, announced first quarter financial results that did not impress traders. For first quarter 2018, company reported revenues of $0.34 million, a decline of 77% compared to the revenue of $1.5 million in the same period last year. The decline in Revenue was because the Company closed its contract manufacturing and consulting services business and is now focused on the commercialization of its own product, the Reducer. Sales of Reducer increased 30% YOY to $0.34 million Q12018. The company's CEO Fred Colen remarked optimistically, "Despite a challenging period for our shareholders, we are encouraged by our improved financial position through the receipt of $12.3 million in proceeds from investor-initiated exercises of Series C warrants that were issued during our November 2017 public offering. This additional capital provides us with increased runway to support our clinical and operating activities into early 2019 at our current cash burn rate, including achieving further clinical milestones for Tiara and increasing commercial sales of Reducer in Europe."

He added, "We are pleased to have had several scientific articles published which presented data on Reducer, including an editorial in the Journal of the American College of Cardiology (JACC) publication, Vol. 11, No. 8, 2018 by Dr. Wijns and Dr. Behan: "New Treatment Options for the "No Option" Patient with Refractory Angina." We are excited to have additional Reducer data included in these peer-reviewed publications, including U.S. publications, to help drive greater industry awareness of the Reducer."

Access RDI's Neovasc Inc. Research Report at:

Our Actionable Research on Puma Biotechnology, Inc. (NASDAQ: PBYI) and Neovasc Inc. (NASDAQ: NVCN) can be downloaded free of charge at Research Driven Investing.

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