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Clovis Oncology, Inc.

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Clovis reported dismal third-quarter results wherein loss was wider than estimates while sales missed the same. The company’s sole marketed drug Rubraca has registered a slower-than-expected sales growth owing to rising competition. Although Clovis received approval for the label expansion in second-line maintenance setting in the United States, irrespective of BRCA-mutation, its adoption is facing challenges. An approval in similar indication in Europe in anticipated in early 2019. Moreover, several studies on Rubraca, targeting different types of ovarian cancer patients, are currently underway. Successful development is likely to bolster the prospect of the drug. The company is actively working on expanding the label of Rubraca as monotherapy or combination therapy in and beyond ovarian cancer. Clovis’ shares have underperformed the industry so far this year.

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