This Cancer Biotech Stock Just Averted A Patent Disaster In Europe [Investor's Business Daily]
Clovis Oncology, Inc. (CLVS)
Last clovis oncology, inc. earnings: 2/24 04:05 pm
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Source: Investors Business Daily
Related news Clovis Oncology stock jumped Tuesday after a European patent decision averted a "worst case" scenario for its ovarian cancer treatment, Rubraca. In morning trading on the stock market today , Clovis Oncology ( CLVS ) popped 7.7%, near 20.60. Earlier, the stock soared as much as 20% in high volume but met some resistance at their 50-day moving average . The European Patent Office upheld Clovis' claims in a patent covering several crystalline forms of rucaparib camsylate, the drug name for Rubraca. Leerink analyst Andrew Berens says the patent decision avoids the worst-case scenario for Clovis Oncology stock. "Importantly, the narrowed patent is substantially similar to the U.S. camsylate crystal salt patent, in our view," he said in a note to clients. "Therefore, the finding of inventiveness for a similar patent enhances our confidence in the U.S. patent estate." In addition to the patent decision regarding rucaparib camsylate, Clovis noted in a press release that the comm
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