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Stock Market & Financial Investment News

News Breaks
May 20, 2014
08:09 EDTCLVSClovis volatility expected to move on receiving FDA Breakthrough Therapy
Clovis Oncology volatility is expected to move after the FDA grants Breakthrough Therapy designation for CO-1686. Overall option implied volatility of 88 is above its 26-week average of 72 according to Track Data suggesting larger near term price movement.
News For CLVS From The Last 14 Days
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September 4, 2015
10:35 EDTCLVSFly Watch: Clovis, AstraZeneca to present data at lung cancer conference
AstraZeneca (AZN), Clovis Oncology (CLVS), OncoMed (OMED) and Verastem (VSTM) are companies likely to be impacted by their presentations at the World Conference on Lung Cancer, which is set to begin this weekend, said research firm Mizuho Securities. WHAT'S NEW: AstraZeneca will present data on its '9291 drug for non-small cell lung cancer and discuss the drug's effect on pre-treated patients at the conference, which is being held September 6- September 9, Mizuho analyst Phil Lawson pointed out in a note to investors today. AstraZeneca's presentations on '9291 could pressure Clovis Oncology, which has its own non-small cell lung cancer treatment, rociletinib, the analyst stated. Meanwhile, data on rociletinib could indicate that the drug could be prescribed to more patients and that it can be used to treat patients with earlier stages of the disease, Lawson believes. Verastem will report data on the efficacy of its defactinib drug as a treatment for non-small cell lung cancer with a mutation called KRAS, which involves an amino acid. Defactinib targets cancer stem cells. According to Lawson, there was previously an overreaction to the deaths of two patients who were taking the drug and he will be closely examining the safety data on the drug as well. Oncomed, which also seeks to target cancer stem cells, will present updated data for its tarextumab drug in small cell lung cancer and should present more mature efficacy data, the analyst stated. PRICE ACTION: In early trading in a down day for the broader market, AstraZeneca slid 0.9% to $32, Clovis added 1.8% to $82.84, Oncomed was up 0.2% to $18.72 and Verastem gained 2.5% to $6.

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