Clovis grows revenue but also net loss in 2018

BOULDER — Clovis Oncology Inc. (Nasdaq: CLVS) posted a fourth-quarter loss per share of $1.88, missing analyst expectations by 16 cents.

The Boulder-based biopharmaceutical company recorded a net loss of $99.2 million, almost double the net loss the company experienced for the same period a year prior, when it had a loss of $51.8 million.

Clovis recorded revenue of $30.35 million, a year-over-year increase of more than 79 percent. The revenue results beat the analyst consensus by $3.4 million.

“We are pleased to have renewed U.S. revenue growth in the fourth quarter, and with our maintenance treatment indication approved in the EU, we look forward to our initial European launch in Germany on March 1,” Patrick J. Mahaffy, president and CEO of Clovis Oncology, said in a prepared statement.

For the full year of 2018, Clovis had a loss of $7.07 per share and a net less of $368 million. Revenue for the full year was $95 million. In 2017, the company had a loss of $7.36 per share and net loss of $346 million. Revenue for 2017 was $55.5 million.

The company’s net loss for the year included a one-time charge of $20 million related to a final settlement with the U.S. Securities and Exchange Commission, concluding their investigation into rociletinib.

The company expects a late 2019 filing for Rubraca to be used in BRCA-mutant prostate cancer.