Clovis Up Nearly 50% On Solid Data From Ovarian Cancer Study
Zacks Investment Research | Jun 19, 2017 11:10PM ET
Clovis Oncology, Inc. (NASDAQ:CLVS) shares soared nearly 50% on Monday after it announced positive top-line results from a pivotal late-stage maintenance study on its newly launched ovarian cancer drug, Rubraca.
Promising progression-free survival (PFS) and safety results from the pivotal maintenance confirmatory study, ARIEL3 demonstrated that its PARP inhibitor, Rubraca has a meaningful impact in delaying disease recurrence in advanced ovarian cancer patients. The positive results may expand Rubraca’s label, which could improve the commercial uptake of the drug.
Separately, Clovis announced a proposed offering of common stock to raise aggregate proceeds of approximately $250 million. The offering will be used to fund general corporate purposes, which include promotional and marketing expense associated with Rubraca.
Clovis’ share price movement shows that the stock has outperformed the Zacks classified Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.