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Boulder-based Clovis’ stock has tripled in value this year. The company is working with advisers, including Credit Suisse AG in New York, to find a buyer, Bloomberg News reported on Tuesday, quoting sources. Credit Suisse spokesman Jack Grone declined to comment on the report.
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Clovis spokeswoman Breanna Burkart said the company does not comment on “market rumors.”
“We were not the source of this story,” Burkart said.
Clovis (Nasdaq: CLVS) shares were trading at $72.89 around 3 p.m. in New York, or about 5 percent above the previous day’s close. Shares traded at a high of $81.70 earlier in the afternoon. The company reported a net loss of $18.3 million in its most recent quarterly report ended Sept. 30, 2013.
Clovis researchers are developing several anti-cancer drugs, most in partnership with national pharmaceutical companies.
Clovis Oncology raised $130 million in an initial public offering of 10 million shares in the fourth quarter of 2011. Patrick Mahaffy founded the company with other former executives of Boulder-based Pharmion Corp., which he also co-founded. Pharmion was sold to Celgene Corp. in Summit, New Jersey, for $2.9 billion in 2008. Clovis has additional offices in San Francisco, California and Cambridge, United Kingdom.