Puma Biotechnology Reports Inducement Award Under Nasdaq Listing Rule 5635(c)(4)

Puma Biotechnology, Inc. (NASDAQ: PBYI), a biopharmaceutical company,
announced that in connection with the appointment of Maximo F. Nougues
as Pumaa??s Chief Financial Officer, the Compensation Committee of Pumaa??s
Board of Directors approved a grant to Mr. Nougues of an inducement
stock option to purchase 90,000 shares of Puma common stock, at an
exercise price per share equal to the closing price of Pumaa??s common
stock on the grant date. The option was granted on November 11, 2018
under Pumaa??s 2017 Employment Inducement Incentive Award Plan, which was
adopted on April 27, 2017 and provides for the granting of equity awards
to new employees of Puma.

The option is scheduled to vest over a three-year period, with one-third
of the shares underlying the option vesting on November 5, 2019 and 1/36
of the shares underlying the option vesting on each monthly anniversary
thereafter, subject to continued employment (and further subject to
accelerated vesting on a qualifying termination of employment in
connection with a change in control of Puma). The option was granted as
an inducement that was a material component of to Mr. Nouguesa?? decision
to enter into employment with Puma, in accordance with Nasdaq Listing
Rule 5635(c)(4).

Mr. Nouguesa?? inducement stock option originally was disclosed in Pumaa??s
news release dated December 10, 2018; this news release contains
additional information about the terms of the stock option.

About Puma Biotechnology

Puma Biotechnology, Inc. is a biopharmaceutical company with a focus on
the development and commercialization of innovative products to enhance
cancer care. The Company in-licenses the global development and
commercialization rights to three drug candidates a?? PB272 (neratinib,
oral), PB272 (neratinib, intravenous) and PB357. Neratinib, oral was
approved by the U.S. Food and Drug Administration in July 2017 for the
extended adjuvant treatment of adult patients with early stage
HER2-overexpressed/amplified breast cancer, following adjuvant
trastuzumab-based therapy, and is marketed in the United States as
NERLYNXA® (neratinib) tablets. NERLYNX was granted marketing
authorization by the European Commission for the extended adjuvant
treatment of hormone receptor-positive HER2-positive early stage breast
cancer in September 2018. NERLYNX is a registered trademark of Puma
Biotechnology, Inc.

Puma Biotechnology Reports Inducement Award Under Nasdaq Listing Rule 5635(c)(4)
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