CLVS - Why Is Clovis Oncology (CLVS) Stock Up 11% Today?
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Clovis Oncology (NASDAQ:CLVS) stock is rising higher on Monday following the release of results from a Phase 3 clinical trial.
That trail covers Rubraca as a monotherapy for the treatment of ovarian cancer. The results showed it was effective as a first-line maintenance treatment to improve progression-free survival (PFS) when compared to a placebo.
Clovis Oncology notes that Rubraca was used in various subgroups with disease risk. That includes surgical outcomes, response to first-line chemotherapy, and several others. Investors will also note the study included 538 women with high-grade ovarian, fallopian tube, or primary peritoneal cancer.
Rebecca S. Kristeleit, MD, PhD, lead investigator of the trial, said the following about the results.
“These additional results from the ATHENA-MONO analysis of the Phase 3 ATHENA trial demonstrate that rucaparib should be considered a new first-line maintenance treatment option for women with advanced ovarian cancer.”
More Trial Data is on the Way
Clovis Oncology mentions that this is only the first part of its Phase 3 clinical trial. Data from a second part, which will evaluate Rubraca plus nivolumab versus Rubraca, is expected in the first quarter of 2023.
CLVS stock is seeing decent trading as markets open this morning. As of this writing, some 3 million shares have changed hands. That’s already a good start compared to the company’s daily average trading volume of about 12.3 million shares.
CLVS stock is up 11.3% as of Monday morning.
There’s more recent stock market news worth reading about below!
InvestorPlace is home to all of the latest stock coverage traders need to know about. For Monday, that includes this morning’s biggest pre-market stock movers, a recap of recent Cathie Wood investments, and more. You can read all of this news at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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