Puma Biotechnology (PBYI)'s Overnight Billionaire On One Of His Keys To Success
7/31/2014 7:02:13 AM
Alan Auerbach hit the jackpot when stock of Puma Biotechnology, the drug company he founded, skyrocketed 295% on July 23 following good news from a Phase III clinical trial of an experimental breast cancer drug that Puma licensed from Pfizer. The astounding stock jump made him an overnight billionaire. Auerbach owns nearly 20% of the company, including 2.1 million warrants and 230,000 exercisable options. At the July 23 closing price of $233, Auerbach’s stake was worth over $1.3 billion.
Hey, check out all the research scientist jobs. Post your resume today!
comments powered by