Clovis Stock Soars 77% on Cancer Drug Results

The drugs are in early-stage clinical trials


prescription drugsShares of Clovis (CLVS) surged on Monday trading after the company said that two experimental treatments had helped patients in clinical trials.

Rucaparib is being used to treat almost 40 patients suffering from various cancerous tumors, including 10 with ovarian tumors. At the American Society of Clinical Oncology on Monday, Clovis announced that the drug had benefited 89% of the ovarian tumor patients, the Wall Street Journal noted.

Big Drugmaker Makes $321M Bet on Chimps
Big Drugmaker Makes $321M Bet on Chimps

The drug is undergoing the first part of a three-stage clinical trial and expected to enter the second stage by the end of this year.

Separately, 42 patients with non-small cell lung cancer and the T790M resistance mutation taking Clovis’ CO-1686 tolerated the drug and showed signs of benefits. There are no currently approved drugs to treat non-small cell lung cancer in patients with the mutation.

Clovis shares began trading in November 2011.

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