CLVS Stock Recent News

There's nothing like a good old-fashioned bankruptcy warning to make a stock pop on a given day. Today, the latest speculative frenzy appears to be underway with Clovis Oncology (NASDAQ: CLVS ).

Clovis (CLVS) tanks following the possibility of a bankruptcy filing in the near term after recent regulatory developments impacted current revenues and the commercial potential of Rubraca.

Clovis Oncology (NASDAQ: CLVS ) stock is crashing on Wednesday as investors react to news of the company running out of cash! According to a recent filing from Clovis Oncology, there's a strong chance it files for bankruptcy in the near future.

Clovis Oncology Inc. shares CLVS, -73.37% plunged 75% Wednesday, after the Colorado-based biotech said it will not have sufficient liquidity to maintain operations beyond January of 2023. The company said recent regulatory developments relating to its ovarian cancer drug Rubraca and challenges in raising fresh capital, "a potential bankruptcy filing in the very near term looks increasingly probable as a way to preserve the value of our business and assets for the benefit of our stakeholders.

Clovis Oncology continues to report positive clinical data from Rubraca and FAP-2286. I believe these updates make Clovis a prime acquisition target. I review some of the company's recent updates.

In a still-fresh press release, Clovis Oncology (NASDAQ: CLVS ) just announced that its Phase 3 trial for Rubraca, a prostate cancer treatment, achieved its primary endpoint. Moreover, Clovis plans to submit a supplemental New Drug Application (NDA) to the Food and Drug Administration (FDA) for a specific subgroup of prostate cancer patients and intends to discuss NDA submission for a broader patient population with the FDA.

Source: rafapress / Shutterstock.com Clovis Oncology (NASDAQ: CLVS ) stock is getting a boost on Wednesday as investors react to news of it reaching a two-year clinical supply agreement. That agreement was signed with Isotopia Molecular Imaging and it supplies Clovis Oncology with lutetium-177.

Clovis (CLVS) files regulatory applications in the United States and Europe seeking label expansion for its sole marketed drug as a first-line maintenance treatment in advanced ovarian cancer.

Shares of Clovis Oncology (NASDAQ: CLVS ) stock are in focus after the company received positive results from its early Phase 3 clinical trial. However, shares of CLVS stock are down about 5% today after August's consumer price index (CPI) reading came in higher than expected.

The biotech delivers some highly encouraging news on the clinical front.