PBYI - Puma Biotechnology enters into $125M note purchase transaction with Athyrium Capital

Biopharmaceutical company Puma Biotechnology (PBYI) has entered into a $125M note purchase transaction with healthcare-focused asset management company Athyrium Capital.Puma received $100M in gross proceeds from the first tranche of notes it issued as part of the agreement. The funds, along with cash on hand, will be used to retire the existing loan with Oxford Finance.The second tranche of $25M may be drawn at a later date; if drawn down these proceeds would be used for general corporate purposes and to further support NERLYNX commercial initiatives.The notes are due in July 2026.Shares up 6.45% pre-market.

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Puma Biotechnology enters into $125M note purchase transaction with Athyrium Capital