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Shares of Puma Biotechnology(NASDAQ: PBYI), a small-cap cancer company, are absolutely on fire this morning. Specifically, the biotech's shares gained as much as 38% right out of the gate Wednesday. Puma's shares are still up by a healthy 32% as of 9:46 a.m. EST.
What's driving this eye-popping surge in the drugmaker's share price today? Oddly enough, the company hasn't released any material news to explain this hefty rally.