Clovis reports $66.4M loss for Q2 2021

BOULDER — Cancer-drug manufacturer Clovis Oncology Inc. (NYSE: CLVS) posted a net loss of $66.4 million, or $0.61 per share, in its second quarter earnings that were reported Wednesday. 

That loss is 33% smaller than the $92.2 million, or $1.15 per share, loss that Clovis reported in the second quarter of 2020. 

Clovis also reported an 8% decrease in year-over-year revenue, from $39.9 million last year to $36.8 million this year. In a press release, the company attributed that to fewer patients starting cancer treatment during the COVID-19 pandemic. 

Research and development spending was down 35%, from $69.9 million to $45.8 million, which Clovis again attributed to the pandemic inhibiting drug trials.

As of June 30, Clovis had $230.2 million in cash and cash equivalents. 

Clovis stock closed Wednesday at $4.82 per share, down 0.82% from open.