Clovis Oncology, Inc (NASDAQ:CLVS) is seeing a boost after positive developments
Progression free survival was shown to be effective with the cancer treatment based on a trial against a placebo. Three sub groups of women were surveyed, including ovarian, fallopian tube, and primary peritoneal cancers, and all showed positive results.
Market Watch provides details on the exciting advancement:
“If approved, Rubraca would have the broadest label of any PARP inhibitor in ovarian cancer… which we think should bode well for the commercial uptake of the drug,” Schmidt said, calling the company a prime takeout candidate.
The trial enrolled 564 women, and FDA approval will be established within four months.
Clovis Oncology, Inc shares rose $0.19 (+0.72%) in after-hours trading Friday. Year-to-date, CLVS has declined -61.24%, versus a 4.87% rise in the benchmark S&P 500 index during the same period.