Puma Biotechnology Inc (NASDAQ: PBYI) is having an overwhelmingly rough start to the trading session this morning, and for good reason. Early this morning, it was announced that a key member of the management team will be leaving the company. As a result, fear struck investors, leading to declines in the stock. Of course, our partners at Trade Ideas were the first to alert us to the declines in the stock. Currently (9:12), PBYI is trading at $32.00 per share after a loss of $4.55 per share (12.45%) thus far today.
Robert Charnas Resigns From PBYI
As mentioned above, Puma Biotechnology is having an overwhelmingly rough day in the market today after investors learned that a key executive has made the decision to leave the company. Early this morning, it came to light that on April 28th, Robert Charnas, Senior Vice President of Regulatory Affairs and Project Management, notified the company that he will be resigning for health reasons.
Of course, this is overwhelmingly bad news. After all, PBYI isn’t the source of the health issues that forced the resignation, but they are sure going to deal with the pain associated with a key member of the team leaving.
Stop wasting your time! Find winning trades in minutes with Trade Ideas!
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on PBYI. In particular, we’re interested in following the company to see who takes on the position that Charnas will leave. We’ll continue to follow the story closely and bring the news to you as it breaks.
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!