Clovis Oncology grows first-quarter loss year-over-year

BOULDER — Clovis Oncology Inc. (Nasdaq: CLVS) posted a first-quarter loss of $1.54 per share, missing analyst expectations by 18 cents.

Clovis grew its loss year-over-year from $58 million during the first quarter of 2017 to nearly $78 million in the first quarter of 2018.

Despite the earnings loss, Clovis had firstquarter revenue of $18.25 million, a year-over-year increase of 163 percent. The company beat expectations by $190,000. Sales are attributed to its main drug product, Rubraca.

Clovis expects to receive marketing approval from the European Commission later in May and plans to file a maintenance treatment application for ovarian cancer in Europe in the second quarter of 2018.