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Biotech / Medical : biotech firesales

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From: tnsaf	10/8/2016 10:51:06 PM
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Clovis Oncology ( CLVS) shares are falling Friday after a clinical trial update on its PARP inhibitor in ovarian cancer revealed weaknesses against a similar, competing drug from AstraZeneca ( AZN) . Adam Feuerstein Oct 7, 2016 10:28 AM EDT Takeover speculation that had fueled the recent rise in Clovis' stock price looks to be subsiding. The stock fell 18% to $29.42. Clovis presented more detailed data Friday from two previously announced clinical trials of its PARP inhibitor rucaparib. These data have already been submitted to the U.S. Food and Drug Administration. Clovis is seeking approval for rucaparib as a treatment for advanced ovarian cancer in patients with BRCA-mutated tumors (germline and somatic) who have been treated previously with two or more chemotherapies. [snip] thestreet.com

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