CLVS - Clovis Oncology GAAP EPS of -$0.44 misses by $0.05 revenue of $34.25M misses by $2.74M

Clovis Oncology press release (NASDAQ:CLVS): Q1 GAAP EPS of -$0.44 misses by $0.05. Revenue of $34.25M (-10.0% Y/Y) misses by $2.74M. $122.2M in cash and cash equivalents and $18.6M in available funding under the ATHENA financing at March 31, 2022 Shares +0.95% PM. Cash burn  was $49.3 million, up 2% from $48.1 million in Q1 2021.  “We continue to anticipate two additional Phase 3 read-outs for Rubraca: TRITON3 in second-line prostate cancer treatment for selected patients during the third quarter this year, and ATHENA-COMBO in combination with Opdivo in first-line ovarian cancer maintenance treatment in the first quarter of 2023. Importantly, for our first targeted radiotherapy candidate, FAP-2286, we look forward to presenting initial data from the Phase 1 portion of the LuMIERE study at the SNMMI Annual Meeting next month, and initiating the Phase 2 portion of the study during the fourth quarter.” said Patrick J. Mahaffy, President and

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Clovis Oncology GAAP EPS of -$0.44 misses by $0.05, revenue of $34.25M misses by $2.74M