- Clovis Oncology finally realized some share price upside last week after positive results from a Phase 3 study of its only commercial drug Rubraca.
- The data suggests Rubraca can enter the 1st line therapy space in Ovarian candidate - the PARP inhibitor extended Progression Free Survival by >15 months.
- The issue is the two other PARPs Rubraca will compete against - Lynparza and Zejula, marketed by AZN / MRK, GSK respectively. The incumbents will be tough to shift.
- Clovis made a net loss of >$260m in 2021 and >$360m in 2020. Current cash position is <$150m, so investor dilution is a near certainty.
- There's an intriguing programme in targeted radionuclide therapy but this could be a little overstated. Rubraca in non-HRD could be Clovis Oncology's salvation, or a buyout.
For further details see:
Clovis Oncology: Rubraca Win In Ovarian Cancer May Have Come Too Late