Clovis Oncology beats by $0.10, beats on revs (19.10)
- Reports Q1 (Mar) loss of $1.63 per share, excluding non-recurring items, $0.10 better than the S&P Capital IQ Consensus of ($1.73); revenues rose 78.8% year/year to $33.12 mln vs the $32.1 mln S&P Capital IQ Consensus.
- As a result of Rubraca's breakthrough therapy status, Clovis agreed to provide regular updates to FDA on the Company's advanced prostate cancer development program on a regular basis. At the end of April 2019, Clovis provided an update to FDA on 52 patients with BRCA-mutant mCRPC that showed a RECIST response rate and PSA response highly consistent with the data presented at ESMO 2018. Clovis expects to discuss this update with FDA in the next several weeks. Clovis intends to file the planned supplemental NDA by the end of 2019.
- "With solid sales performance, an encouraging update of our TRITON prostate cancer data in support of our planned supplemental NDA in late 2019, the expected near-term initiation of two lucitanib combination studies and a successful financing that extends our projected cash runway into 2022, we are very enthusiastic about our progress toward our 2019 goals. In addition, I am pleased to announce that Dan Muehl, our Executive Vice President Finance, has been promoted to Chief Financial Officer. Dan has been with the Company for about four years and this is an extremely well-deserved promotion