Clovis to offer $250M in new stock and debts in shelf offer

BOULDER — Clovis Oncology Inc. (Nasdaq: CLVS) is offering an additional $250 million in new stock and debt options after it raised around $225 million in August.

The Boulder-based oncology company is raising the funds through new stock sales, share warrants and debt securities, according to filings with the U.S. Securities and Exchange Commission Monday afternoon.

The shares were submitted in a “shelf offering,” which allows Clovis to sell them over the next three years.

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In its filing, Clovis said the funds would be used for a range of corporate purposes, including debt repayment or refinancing, research and development, or for marketing its treatment for ovarian cancer.

The company previously raised $263 million in August after its stock was hammered by poor second-quarter results, while investors raised the idea of Clovis as a takeover target. Its third-quarter results beat analyst expectations.

Clovis filed its offering after markets closed on Monday, when its stock ended at $12.11 per share. The company’s share price fell 11.4 percent in after-hours trading as of 4 p.m. Mountain Time.