Clovis Stock Soars 77% on Cancer Drug Results

by Christopher Freeburn | June 3, 2013 11:14 am

prescription drugs 300x180 Clovis Stock Soars 77% on Cancer Drug Results[1]Shares of Clovis (CLVS[2]) surged on Monday trading after the company said that two experimental treatments had helped patients in clinical trials[3].

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.

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┬áT790M resistance mutation┬átaking Clovis’ CO-1686 tolerated the drug and showed signs of benefits[4]. 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.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2011/05/prescription-drugs.jpg
  2. CLVS: http://studio-5.financialcontent.com/investplace/quote?Symbol=CLVS
  3. helped patients in clinical trials: http://www.businessweek.com/news/2013-06-03/clovis-oncology-shares-almost-double-on-ovarian-drug-trial-data
  4. tolerated the drug and showed signs of benefits: http://online.wsj.com/article/BT-CO-20130603-704129.html?mod=googlenews_wsj

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