Clovis to pay $25M to settle lawsuit over lung-cancer drug

BOULDER — Clovis Oncology Inc. (Nasdaq: CLVS) will pay $25 million to settle a lawsuit over claims of the effectiveness of one of its drugs.

According to filings with the U.S. Securities and Exchange Commission, the Boulder-based pharmaceutical company will pay $4 million in cash and $21 million in shares to Antipoedan Domestic Partners LP, a New York hedge fund and plaintiff in the suit. The settlement does not include any statement of wrongdoing by Clovis.

Antipoedan filed the suit in November 2016, claiming Clovis and its underwriters had misled investors over the effectiveness and safety of its lung-cancer drug rociletinib when it was raising funds in 2015. Clovis ended development of the drug in May 2016.

A spokeswoman for Clovis said the company had no comment beyond its settlement filing. Antipoedan did not immediately respond to a request for comment Monday morning.

BOULDER — Clovis Oncology Inc. (Nasdaq: CLVS) will pay $25 million to settle a lawsuit over claims of the effectiveness of one of its drugs.

According to filings with the U.S. Securities and Exchange Commission, the Boulder-based pharmaceutical company will pay $4 million in cash and $21 million in shares to Antipoedan Domestic Partners LP, a New York hedge fund and plaintiff in the suit. The settlement does not include any statement of wrongdoing by Clovis.

Antipoedan filed the suit in November 2016, claiming Clovis and its underwriters had misled investors over the effectiveness and safety of its lung-cancer drug rociletinib when it was raising funds in 2015. Clovis ended development of the drug in May 2016.

A spokeswoman for Clovis said the company had no comment beyond its settlement filing. Antipoedan did not immediately respond to a request for comment Monday morning.