Will Puma Biotechnology Break Out of Its Rut in 2020?

Puma Biotechnology (NASDAQ: PBYI) offers a particularly painful case study of what can go wrong after a promising drug product launches. The company's breast cancer drug, Nerlynx, was once widely expected to become a blockbuster (a drug that generates over $1 billion in annual sales), but severe side effects have led to high discontinuation rates among patients. Growth virtually stalled in 2019. The pharma stock has fallen over 90% since its peak in late 2017.