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home / news releases / CLVS - Clovis Oncology falls 23% following Q1 earnings revenue decline from Rubraca

CLVS - Clovis Oncology falls 23% following Q1 earnings revenue decline from Rubraca

Clovis Oncology Inc.
Shares of Clovis Oncology (NASDAQ:CLVS) are down 23% in Wednesday morning trading after its Q1 2022 results missed on both the top and bottom lines amid a decline in sales of its key product Rubraca (rucaparib). The company's net loss narrowed 9% in Q1 to -$60.2M (-$0.44 vs. -$0.64 per basic and diluted share) compared to the prior-year period. Clovis (CLVS) was helped in the quarter by a 12% decline in expenses to $84.6M. Rubraca sales of $34.2M in the quarter was a 10% decline from Q1 2021. Clovis (CLVS) ended the quarter with ~$122.2M in cash. Read why BioSci Capital Partners views Clovis (CLVS) as a buy.

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Clovis Oncology falls 23% following Q1 earnings, revenue decline from Rubraca
Stock Information
Company Name: Clovis Oncology Inc.
Stock Symbol: CLVS
Market: NASDAQ
Website: clovisoncology.com
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