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News Breaks
March 26, 2014
10:06 EDTCLVSClovis advances ahead of clinical trial update
Shares of Clovis (CLVS) are rising a day before the company is slated to report interim results from a study of its CO-1686 drug. CO-1686 is supposed to treat non-small cell lung cancer. WHAT'S NOTABLE: In a regulatory filing on February 27, Clovis said that it would provide an update on clinical results from a Phase I study of CO-1686. The update will include results from patients treated with the hydrobromide salt formulation that will be used in all clinical studies going forward, the company stated. The results are slated to be presented during a session that will be held between 10 am ET and 11:30 am ET, Clovis reported. CO-1686 is supposed to mutant forms of the epidermal growth factor receptor and the T790M resistance mutation. ANALYST REACTION: In a note to investors earlier today, Leerink Swann analyst Mark Kozul estimated that there is about an 85% chance that the stock will rise following tomorrow's update. The stock could jump more than $15-$20 if the data lowers CO-1686's risk, he predicted. Moreover, there is less than a 15% chance that the stock will drop following the update, and the shares are unlikely to decline more than $10, the analyst predicted. Kozul reiterated a $110 price target and Outperform rating on the stock. PRICE ACTION: In early trading, Clovis climbed $3.70, or 5%, to $77.50.
News For CLVS From The Last 14 Days
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November 19, 2014
18:03 EDTCLVSClovis reports initial Phase 2 results from ARIEL2 study
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09:16 EDTCLVSOn The Fly: Pre-market Movers
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06:36 EDTCLVSClovis rociletinib data 'good news/bad news,' says Mizuho
Mizuho analyst Peter Lawson says his initial read of the new rociletinib data is "good news/bad news," which leaves his price target for Clovis unchanged. Lawson pegs the bad news as the drug losing its progression-free survival lead since the estimated PFS dropped from 12 months to 10.4 months, essentially in-line with AstraZeneca's (AZN) competing drug AZD9291. Lawson sees the good news as the "encouraging" PFS of 7.5 months in T790M-negative patients. He keeps a Buy rating on Clovis with a $100 price target.
November 18, 2014
18:38 EDTCLVSClovis announces positive data from Phase 2 clinical study of rociletinib
Clovis Oncology announced updated findings from its ongoing Phase 2 clinical study of rociletinib, or CO-1686, the Company’s novel, oral, targeted covalent mutant-selective inhibitor of the epidermal growth factor receptor, or EGFR, for the treatment of NSCLC in patients with initial activating EGFR mutations as well as the primary resistance mutation T790M. These data are being presented Friday, November 21 in an oral presentation at the 26th EORTC-NCI-AACR (ENA) Symposium on Molecular Targets and Cancer Therapeutics in Barcelona, Spain. “These data demonstrate the very encouraging activity and tolerability observed with rociletinib at our go-forward dose of 625mg BID, and our step-down dose of 500mg BID,” said Clovis Oncology. “We are now expanding beyond our initial focus on T790M-positive patients and are very enthusiastic about our expansion into front-line patients with TIGER-1, and soon, into an all-comer population of patients with acquired TKI resistance, including both T790M-positive and T790M-negative patients with TIGER-3. We are actively preparing for the first of our planned regulatory filings, which include the U.S. NDA and E.U. MAA in mid-2015.”
07:20 EDTCLVSEuro Organization for Research & Treatment of Cancer co-hosts a symposium
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November 17, 2014
17:02 EDTCLVSClovis in oncology clinical trial collaboration with GlaxoSmithKline
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November 14, 2014
12:08 EDTCLVSClovis November volatility elevated into update
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November 12, 2014
17:30 EDTCLVSClovis announces first patient enrolled in TIGER-1 study
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10:07 EDTCLVSHigh option volume stocks: DDS FOSL ZTS CMA CLVS CZR
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