Here's Why Clovis Oncology Rose as Much as 25.6% Today [The Motley Fool]
Clovis Oncology, Inc. (CLVS)
Last clovis oncology, inc. earnings: 2/24 04:05 pm
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Source: The Motley Fool
What happened Shares of Clovis Oncology ( NASDAQ:CLVS Even before today's announcement, investors never had much doubt that Rubraca would be approved to treat metastatic castration-resistant prostate cancer (mCRPC). The drug also earned Breakthrough Therapy designation from the FDA for that indication, which is usually followed by a priority review designation and often allows applications for marketing approval to be submitted based on phase trial data. However, investors might be overreacting a bit to today's news. As of : a.m. EST, the pharma stock Image source: Getty Images. So what On the one hand, investors always seem to be disappointed Rubraca inhibits poly ADP ribose polymerase (PARP), an enzyme that becomes more active when certain DNA repair mechanisms break down. While PARP inhibitors have promising potential to treat certain genetically defined cancers, the consensus on Wall Street is that Rubraca lags behind two peers. Analysts are most optimistic about the market poten
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