It has been about a month since the last earnings report for Clovis Oncology . Shares have lost about 14.8% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Clovis due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
Clovis Q4 Loss Wider Than Expected, Revenues Lag
Clovis reported fourth-quarter 2021 net loss of 50 cents per share, narrower than the year-ago period’s loss of $1.02.
Adjusted loss (excluding foreign currency loss) was 49 cents per share, narrower than the Zacks Consensus Estimate of a loss of 60 cents.
Net revenues — entirely from Rubraca — were down 17% year over year to $36 million, missing the Zacks Consensus Estimate of $39.3 million.
Quarter in Detail
Sales of Rubraca in the United States were $27.6 million, down 24.2% year over year. Ex-U.S. market sales were $8.4 million for the fourth quarter, up 21.7% year over year. Lower sales were due to COVID-19 impacts as fewer patients were treated for ovarian cancer amid the pandemic.
For the fourth quarter, research & development expenses decreased 26% year over year to $41.8 million, primarily on lower spending on Rubraca clinical studies.
Selling, general and administrative expenses declined 18% year over year to $33.3 million, driven by cost-saving initiatives and savings owing to the COVID-19 situation, globally.
Clovis ended the quarter with $143.4 million of cash equivalents and available-for-sale securities compared with $171.9 million on Sep 30, 2021.
CLVS expects to raise additional capital to support its operations for at least next 12 months and ahead.
Full-Year Results
Clovis reported revenues of $148.8 million, down 10% year over year. CLVS incurred a loss of $2.29 per share in 2021, 47.7% narrower than the year-ago period’s figure.
Adjusted loss (excluding acquired in-process research and development as well as foreign currency loss) was $2.21 per share compared with $4.38 over a year ago.
How Have Estimates Been Moving Since Then?
Analysts were quiet during the last two month period as none of them issued any earnings estimate revisions.
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Why Is Clovis (CLVS) Down 14.8% Since Last Earnings Report?
It has been about a month since the last earnings report for Clovis Oncology . Shares have lost about 14.8% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Clovis due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
Clovis Q4 Loss Wider Than Expected, Revenues Lag
Clovis reported fourth-quarter 2021 net loss of 50 cents per share, narrower than the year-ago period’s loss of $1.02.
Adjusted loss (excluding foreign currency loss) was 49 cents per share, narrower than the Zacks Consensus Estimate of a loss of 60 cents.
Net revenues — entirely from Rubraca — were down 17% year over year to $36 million, missing the Zacks Consensus Estimate of $39.3 million.
Quarter in Detail
Sales of Rubraca in the United States were $27.6 million, down 24.2% year over year. Ex-U.S. market sales were $8.4 million for the fourth quarter, up 21.7% year over year. Lower sales were due to COVID-19 impacts as fewer patients were treated for ovarian cancer amid the pandemic.
For the fourth quarter, research & development expenses decreased 26% year over year to $41.8 million, primarily on lower spending on Rubraca clinical studies.
Selling, general and administrative expenses declined 18% year over year to $33.3 million, driven by cost-saving initiatives and savings owing to the COVID-19 situation, globally.
Clovis ended the quarter with $143.4 million of cash equivalents and available-for-sale securities compared with $171.9 million on Sep 30, 2021.
CLVS expects to raise additional capital to support its operations for at least next 12 months and ahead.
Full-Year Results
Clovis reported revenues of $148.8 million, down 10% year over year. CLVS incurred a loss of $2.29 per share in 2021, 47.7% narrower than the year-ago period’s figure.
Adjusted loss (excluding acquired in-process research and development as well as foreign currency loss) was $2.21 per share compared with $4.38 over a year ago.
How Have Estimates Been Moving Since Then?
Analysts were quiet during the last two month period as none of them issued any earnings estimate revisions.