Puma Biotechnology Inc, a Delaware corporation was incorporated on April 27, 2007. The Company is a development-stage biopharmaceutical company that acquires and develops innovative products for the treatment of various forms of cancer. It focuses on in-licensing drug candidates that are undergoing or have already completed initial clinical testing for the treatment of cancer and then seek to further develop those drug candidates for commercial use. The Company currently licenses the rights to three drug candidates: PB272 (neratinib (oral)), which are being developed for the treatment of advanced breast cancer patients, non-small cell lung cancer and patients with HER2 mutation-positive solid tumors; PB272 (neratinib (intravenous)), which are being developed for the treatment of advanced cancer patients; and PB357, which it believes can serve as a backup compound to PB272, and which are being evaluated for further development. The Company focused on developing neratinib for the treatment of patients with human epidermal growth factor receptor type 2, or HER2-positive, breast cancer, HER2 mutated non-small cell lung cancer, HER2-negative breast cancer that has a HER2 mutation and other solid tumors that have an activating mutation in HER2. Therapeutic strategies, such as the use of Herceptin (trastuzumab), Perjeta (pertuzumab), and Kadcyla (T-DM1), produced by Genentech, and Tykerb (lapatinib), produced by GlaxoSmithKline, given either alone or in combination with chemotherapy, have been developed to improve the treatment of this cancer by binding to the HER2 protein. The Company licenses the exclusive worldwide rights to its current drug candidates from Pfizer Inc., or Pfizer, which had previously been responsible for the clinical trials regarding neratinib. The Company has modified Pfizer's clinical development strategy and during the next 12 to 18 months plan to: commence Phase III clinical trials evaluating the use of with HER2-positive metastatic breast cancer who have previously failed two or more prior treatment; continue the ongoing Phase II clinical trial of neratinib in the neoadjuvant treatment of HER2 positive breast cancer, in patients with HER2 positive metastatic breast cancer that has metastasized to the brain; and continue to evaluate the application of neratinib in the treatment of other forms of HER2 positive cancers where there may be unmet medical needs. The Company's competitors include Genentech, GlaxoSmithKline, Roche, Boehringer Ingelheim, Takeda, Array Biopharma and Ambit Biosciences.