PBYI - Puma Biotechnology Takeda enter licensing agreement for cancer treatment alisertib

• Puma Biotechnology ( NASDAQ: PBYI ) on Tuesday said it had entered into a licensing agreement with Japanese pharmaceutical major Takeda ( NYSE: TAK ) for the development and commercialization of investigational cancer treatment alisertib.
• As per the terms of the deal, PBYI be solely responsible for the global development and commercialization of alisertib.
• TAK will get an upfront license fee of $7M and is eligible to get potential milestone payments of up to $287.3M, PBYI said in a statement .
• PBYI will initially focus the development of alisertib for the treatment of two types of breast cancer and small cell lung cancer.
• Puma Biotechnology ( PBYI ) stock -3.2% to $2.41 after hours. It had earlier closed +6% at $2.49.

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