BOULDER — Cancer-drug manufacturer Clovis Oncology Inc. (NYSE: CLVS) is projecting revenues between $148.3 million and $148.9 million for the full 2021 fiscal year, a significant drop from $164.5 million in revenue the prior year.
The company blames the slippage on the COVID-19 pandemic.
“The ongoing COVID-19 pandemic and the consequent reduction in ovarian cancer diagnoses and treatments continue to impact Rubraca sales in both the U.S. and Europe. Despite these continuing commercial headwinds, we anticipate 2022 will be the most significant year of clinical data readouts in the company’s history,” Clovis CEO Patrick Mahaff said in a prepared statement that accompanied the firm’s preliminary sales results.
Full financial results for the 2021 fiscal year will be presented on Feb. 23.
Rubraca, Clovis’ flagship drug, is primarily prescribed to ovarian-cancer patients and survivors to lower the chance of relapse, but is thought to help control solid-tumor forms of cancer linked to a specific mutation in a person’s genetics.
© 2022 BizWest Media LLC
BOULDER — Cancer-drug manufacturer Clovis Oncology Inc. (NYSE: CLVS) is projecting revenues between $148.3 million and $148.9 million for the full 2021 fiscal year, a significant drop from $164.5 million in revenue the prior year.
The company blames the slippage on the COVID-19 pandemic.
“The ongoing COVID-19 pandemic and the consequent reduction in ovarian cancer diagnoses and treatments continue to impact Rubraca sales in both the U.S. and Europe. Despite these continuing commercial headwinds, we anticipate 2022 will be the most significant year of clinical data readouts in the company’s history,” Clovis CEO Patrick Mahaff said in a prepared statement that accompanied the firm’s preliminary sales results.
Full financial results for the 2021 fiscal year will be presented on Feb. 23.
Rubraca, Clovis’ flagship drug, is primarily prescribed to ovarian-cancer patients and survivors to lower the chance of relapse, but is thought to help control solid-tumor forms of cancer linked to a specific mutation in a person’s genetics.
© 2022 BizWest Media LLC
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