Clovis Oncology misses on earnings, revenue

BOULDER — Clovis Oncology Inc. (Nasdaq: CLVS) missed analyst expectations by 2 cents, with a third-quarter loss per share of $1.24.

Revenue for the Boulder-based company was $16.8 million, a miss of $4.3 million.

Revenue was bolstered by the launch of Rubraca (rucaparib), an anti-cancer agent used for ovarian cancer. Net product revenue of Rubraca was $16.8 million. Clovis also filed a new-drug application for rucaparib as maintenance treatment for platinum-sensitive cancer in October. And the company is collaborating on uses for the drug with Bristol-Myers Squibb.

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“We continue to grow sales quarter over quarter despite our current limited treatment label and the rapid conversion of the ovarian cancer community to favor maintenance therapy with no requirement for diagnostic testing,” Patrick J. Mahaffy, president and CEO of Clovis Oncology, said in a prepared statement.

The company had a net loss of $60.6 million, or $1.24 per share, an improvement over the same period last year, when the company’s net loss was nearly $65.7 million, or $1.70 per share.