Results from I-SPY 2 TRIAL  Looking Forward gastric/esophageal cancer; (v) ovarian cancer; (vi) all other solid tumors, including prostate, melanoma and pancreatic cancer; (vii) EGFR mutated  and/or amplified primary brain cancer; and (viii) solid tumors with a HER3  mutation. We anticipate that the initial clinical data from this trial will be  presented in 2014. During 2013, we were very pleased to announce that PB272 graduated from  the I-SPY 2 TRIAL (Investigation of Serial Studies to Predict Your Therapeutic  Response with Imaging And moLecular Analysis 2), which is a randomized  Phase II neoadjuvant clinical trial for women with newly diagnosed stage 2  or higher breast cancer. We reported positive top line data from this trial in  December 2013. Notably, this represented the first clinical data on PB272 in  the neoadjuvant treatment of HER2-positive breast cancer and suggested  that the combination of paclitaxel plus PB272 has potent activity for the  treatment of HER2-positive breast cancer. We look forward to advancing  PB272 in this indication and toward future involvement with the I-SPY 3  Phase III trial. It is with great pleasure that I lead Puma into a truly exciting time in our  Company’s history. Puma is uniquely positioned to successfully execute its  strategic plan in the upcoming years and build value for its stockholders. I would like to acknowledge the contribution of Puma’s employee, whose  skills, experience and commitment enabled us to reach our milestones in 2013  and who diligently strive to continue this momentum in 2014 and beyond. On behalf of the Company and its Board of Directors, I also would like to take this  opportunity to sincerely thank our loyal stockholders for their ongoing support. Sincerely, Alan H. Auerbach Chairman, Chief Executive  Officer and President, Founder