Clovis Oncology shares soar after FDA accepts cancer-drug application

BOULDER — Shares of Boulder biopharma Clovis Oncology Inc. (Nasdaq: CLVS) shot up 27 percent Tuesday and were up another 5.5 percent in premarket trading Wednesday morning after the company received some good news from the U.S. Food and Drug Administration.

Clovis announced Tuesday that its New Drug Application for ovarian cancer drug rucaparib has been accepted by the FDA and granted priority review status. The FDA set a decision date on the application of Feb. 23, 2017.

The news marked a major boost for Clovis, which earlier this year pulled the plug on lung-cancer drug candidate rociletinib after receiving notice that it was unlikely to receive FDA approval. The company announced that it would reduce its staff by 35 percent in the wake of that move.

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Clovis stock closed at $23.03 Tuesday, up $4.93 from Monday’s close.

Rucaparib is aimed at treating advanced ovarian cancer in patients with BRCA-mutated tumors.