Acorn Bioventures Cuts Puma Biotech Stake to Zero

TL;DR

**Acorn Bioventures dumped all their Puma Biotech shares.**

AI Summary

Acorn Bioventures, L.P. filed an amended SC 13G/A on February 6, 2024, indicating a change in their beneficial ownership of Puma Biotechnology, Inc. common stock as of December 31, 2023. While the filing doesn't specify the exact percentage, it shows Acorn Bioventures, L.P. now holds 0 shares with sole voting power, suggesting a significant reduction or complete divestment of their previous stake. This matters to investors because a major institutional investor reducing or eliminating their position could signal a loss of confidence in Puma Biotechnology's future prospects.

Why It Matters

A large institutional investor like Acorn Bioventures reducing its stake to zero could indicate a lack of confidence in Puma Biotechnology's future performance, potentially leading to downward pressure on the stock price.

Risk Assessment

Risk Level: medium — The divestment by an institutional investor could signal underlying issues or a lack of future growth potential for Puma Biotechnology, Inc.

Analyst Insight

A smart investor would investigate the reasons behind Acorn Bioventures' complete divestment and consider if this signals a fundamental issue with Puma Biotechnology before making any investment decisions.

Key Numbers

• 0 — Sole Voting Power Shares (Acorn Bioventures, L.P. now holds 0 shares with sole voting power in Puma Biotechnology, Inc.)

Key Players & Entities

• Acorn Bioventures, L.P. (company) — the reporting person who filed the SC 13G/A
• Puma Biotechnology, Inc. (company) — the subject company whose securities are being reported
• Delaware (company) — place of organization for Acorn Bioventures, L.P.
• December 31, 2023 (date) — date of event requiring the filing
• February 6, 2024 (date) — date the SC 13G/A was filed

Forward-Looking Statements

• Puma Biotechnology's stock price may experience downward pressure in the short term. (Puma Biotechnology, Inc.) — medium confidence, target: 3 months
• Other institutional investors might re-evaluate their positions in Puma Biotechnology. (Institutional Investors) — low confidence, target: 6 months

FAQ

Key Financial Figures

• $0.0001 — Inc. (Name of Issuer) Common Stock, $0.0001 par value per share (Title of Class of

Filing Documents

• p24-0350sc13ga.htm (SC 13G/A) — 101KB
• 0000902664-24-001097.txt ( ) — 103KB

(a)

Item 1(a). Name of Issuer. Puma Biotechnology, Inc. (the “ Issuer ”)

(b)

Item 1(b). Address of Issuer’s Principal Executive Offices. 10880 Wilshire Boulevard, Suite 2150 Los Angeles, CA 90024

(a)

Item 2(a). Name of Person Filing. This statement is filed by: (i) Acorn Bioventures, L.P. (“ Acorn ”); (ii) Acorn Capital Advisors GP, LLC (“ Acorn GP ”), which is the sole general partner of Acorn; (iii) Acorn Bioventures 2, L.P. (“ Acorn 2 ”); (iv) Acorn Capital Advisors GP 2, LLC (“ Acorn GP 2 ”), which is the sole general partner of Acorn 2; and (v) Anders Hove (“ Hove or “ Manager ”). The foregoing persons are hereinafter sometimes collectively referred to as the “ Reporting Persons .” The filing of this statement should not be construed as an admission that any of the foregoing persons or any Reporting Person is, for the purposes of Section 13 of the Act, the beneficial owner of the shares of Common Stock reported herein.

(b)

Item 2(b). Address of Principal Business Office. The address of the principal business office of each of the Reporting Persons is 420 Lexington Avenue, Suite 2626, New York, New York 10170

(c)

Item 2(c). Place of Organization. Acorn is a Delaware limited partnership. Acorn GP is a Delaware limited liability company. Acorn 2 is a Delaware limited partnership. Acorn GP 2 is a Delaware limited liability company. Hove is a citizen of the United States of America.

(d)

Item 2(d). Title of Class of Securities. Common stock, $0.0001 par value per share (the “ Common Stock ”)

(e)

Item 2(e). CUSIP Number. 74587V107 CUSIP No. 74587V107 13G/A Page 8 of 10 Pages Item 3. If this Statement is Filed Pursuant to §§ 240.13d-1(b) or 240.13d-2(b), or (c), check whether the Person Filing is a: (a) Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o); (b) Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c); (c) Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c); (d) Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8); (e) An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E); (f) An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F); (g) o A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G); (h) A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C.1813); (i) A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) A non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J); (k) Group, in accordance with §240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J), please specify the type of institution:_____________________________________ Item 4. The information required by Items 4(a) – (c) is set forth in Rows (5) – (11) of the cover page for each Reporting Person hereto and is incorporated herein by reference for each Reporting Person. The percentages set forth herein are calculated based upon 47,571,332 shares of Common Stock outstanding as of October 30, 2023 as reported in the Issuer’s Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2023 filed with the Securities and Exchange Commission on November 2, 2023. CUSIP No. 74587V107 13

View Full Filing

View this SC 13G/A filing on SEC EDGAR