Despite earnings loss, Clovis upbeat about new drugs, clinical tests – Colorado News

Despite earnings loss, Clovis upbeat about new drugs, clinical tests – Colorado News

BOULDER — Clovis Oncology Inc. announced a loss per share of $3.88 for the second quarter of 2017, an increase in loss of 51 cents per share from the same period last year.

The company posted a net loss of more than $175 million, up from a loss of $129 million for the same period a year ago.

Its net product revenue was $14.6 million, a significant milestone for the company that had no sales the year prior. Its drug Rubraca, which was approved and launched in December, was the reason for the sales in 2017.

Clovis looked positively at the half-year that’s passed, as it prepares its supplemental New Drug Application for its platinum-sensitive ovarian cancer drug line. The company recently announced a partnership with Bristol-Myers Squibb to conduct clinical tests in breast cancer, ovarian cancer and prostate cancer.

Clovis’ stock was $81.61 at market close on Wednesday. Following its announcement, stock was trading at $80.40 after hours.

 

click here to read more.

Share this post

Post Comment