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Thursday, May 19, 2022

Positive Topline Outcomes from ATHENA Trials: Clovis Oncology, Inc. (CLVS) Stock Playing Bullish in Premarket

Clovis Oncology, Inc. (CLVS) is a leading biotherapeutics business engaged in the acquisition, development, and commercialization of novel anti-cancer agents globally. The company targets developmental programs at cancer populations, and instantaneously develops diagnostic tools intended to benefit from its use.

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CLVS stock price during the regular trading of March 30, 2022, was $1.65 with a slight drop of 3.51%. Its price outshined as of the writing in the premarket session of March 31, 2022, by 36.9%.

CLVS: Events and Happenings

On March 31, 2022, CLVS reported optimistic top-line results from its ongoing ATHENA clinical trial demonstrating the achievement of the primary endpoint by Rubraca by considerably enhanced PFS. The safety and tolerability of Rubraca detected in the ATHENA-MONO trials were consistent with the US and European labels. Based on the outcomes, the company intends a submission of supplemental New Drug Application to the US FDA in Q2 2022.

On March 16, 2022, CLVS stated the commencement of a contract with Evergreen Theragnostics for the development of actinium-225-labeled-FAP-2286. Under the terms of the contract, both companies intended to develop radiolabeling chemistry for usage in futuristic clinical trials.

On February 25, 2022, CLVS presented LuMIERE clinical trial poster was presented by the company’s management at the Society of Nuclear Medicine & Molecular Imaging Mid-Winter and the Virtual Annual Meeting of the American College of Nuclear Medicine held on February 25-27, 2022.

CLVS: Key Financials

CLVS disclosed its fourth-quarter 2021 financials on February 23, 2022, for the three months ended December 31, 2021. Some of the notable highlights are discussed below.


The company posted product revenues of $36.0 million for the fourth quarter of fiscal 2021 versus $43.3 million for the corresponding period of 2020. The company’s revenue recorded a $7.3 million decline YoY along with missing the revenue predictions by $915 thousand.


Basic and diluted per share net loss during the fourth quarter of fiscal 2021 was $64.4 million or $0.50 as compared to $99.0 million or $1.02 during the corresponding quarter of 2020. The company’s net loss decreased considerably over the year and missed the EPS predictions by -$0.06.


CLVS stock downfall by 76% in the prior year as the company’s economic condition was influenced by the pandemic. Its current premarket stock gain is the result of positive topline outcomes for ATHENA trials. The revenue forecast for the upcoming quarter is $36.9 million versus -$0.43 EPS.

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