Alan Auerbach hit the jackpot when stock of Puma Biotechnology, the drug company he founded, skyrocketed 295% on July 23 following good news from a Phase III clinical trial of an experimental breast cancer drug that Puma licensed from Pfizer. The astounding stock jump made him an overnight billionaire. Auerbach owns nearly 20% of the company, including 2.1 million warrants and 230,000 exercisable options. At the July 23 closing price of $233, Auerbach's stake was worth over $1.3 billion.
As a free user, you can follow Passle and like posts.
To repost this post to your own Passle blog, you will need to upgrade your account.
For plans and pricing, please contact our sales team at email@example.com