Clovis Oncology stock soars 40% in early trading on positive Phase III data

BOULDER — Clovis Oncology Inc. (Nasdaq: CLVS) said the top-line data of its Phase III trial showed that its flagship product Rubraca fulfilled the study’s top objective in ovarian cancer patients, sending share prices flying Friday morning.

The Boulder-based Clovis said the data from its ARIEL4 trial show the drug significantly improves progression-free survival for patients with specific forms of advanced ovarian cancer versus standard-of-care chemotherapy, ranging from patients whose cancers are fully responsive to platinum-based chemotherapy to those with platinum-resistant forms. The median progression-free survival for study patients taking Rubraca was 7.4 months, compared to 5.7 months for those who…