Despite earnings loss, Clovis upbeat about new drugs, clinical tests
BOULDER — Clovis Oncology Inc. announced a loss per share of $3.88 for the second quarter of 2017, an increase in loss of 51 cents per share from the same period last year.
The company posted a net loss of more than $175 million, up from a loss of $129 million for the same period a year ago.
Its net product revenue was $14.6 million, a significant milestone for the company that had no sales the year prior. Its drug Rubraca, which was approved and launched in December, was the reason for the sales in 2017.
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Clovis looked positively at the half-year that’s passed, as it prepares its supplemental New Drug Application for its platinum-sensitive ovarian cancer drug line. The company recently announced a partnership with Bristol-Myers Squibb to conduct clinical tests in breast cancer, ovarian cancer and prostate cancer.
Clovis’ stock was $81.61 at market close on Wednesday. Following its announcement, stock was trading at $80.40 after hours.
