Clovis Oncology falls on $50 mln debt offering

Clovis Oncology

05/11/2020 15:01

** Shares of drugmaker  CLVS.O  fall ~17% to $4.71
    ** Co announces debt exchange transaction and offering of
convertible senior notes  urn:newsml:reuters.com:*:nASA01CHH
    ** Agrees to sell $50 mln of new series of convertible
senior notes due 2024
    ** Says Q3 was very challenging due to COVID-19 pandemic,
which has severely limited oncology patient visits and cancer
diagnoses 
    ** Reports Q3 net loss of 89 cents per share vs Street est
of loss of 99 cents per share - Refinitiv IBES data
    ** Q4 global net product rev outlook of $38 mln-$40 mln; in
Q4 2019, co posted net product rev of $39.3 mln

 (Reporting by Noor Zainab Hussain in Bengaluru)
 ((noor.hussain@thomsonreuters.com; Within U.S. +1 646 223 8780;
Outside U.S. +91 80 6182 2663 or +91 80 3796 2663 ;))