Clovis Oncology falls after delaying data for cancer drug

Clovis Oncology

04/05/2022 18:37

** Cancer drugmaker's shares  CLVS.O  down 24.5% at $1.56,
set for the biggest one-day drop in more than two years   
    ** Co says it expects data from a late-stage study of its 
drug, Rubraca, in patients with a type of prostate cancer in Q3
instead of Q2  urn:newsml:reuters.com:*:nBw8XVx29a
    ** CLVS blames delay on slower-than-expected event count in
the trial testing Rubraca in patients with castration-resistant
prostate cancer that has spread 
    ** Also reports Q1 sales of $34.2 mln from Rubraca, down 10%
vs Q1 2021 
    ** Stock down ~40% YTD, and has fallen in 4 of the past 6
trading sessions  

 (Reporting by Manas Mishra in Bengaluru)
 ((Manas.Mishra@thomsonreuters.com;
www.twitter.com/Manaswrites15))