Puma Biotech (PBYI) has doubled in the last two days on news surrounding an FDA advisory committee's approval of the experimental breast cancer drug. The approval was only 12-4 and the committee noted that the benefits outweigh the risks though being rather modest. The stock dipped below $30 in the week prior to this approval, but Puma Biotech regularly traded in the $35 range over the last few months. Also worth noting is that the analyst updates are placing targets on the stock in the $80+ range suggesting a small rally from here with the stock trading at $74 already. Within a week or so, the market will focus on implementation issues which is never a guarantee for shareholders. Just ask the ones that own Synergy Pharma (SGYP). Would you chase Puma here? Definitely not a place that would interest me. Disclosure: No position