Here's why a small cancer company's shares are skyrocketing
Clovis Oncology's stock is soaring.
The cancer drug company's stock is up 30% - after being briefly halted for volatility - on the news that the FDA is going to evaluate Clovis' ovarian cancer drug, rucaparib, for approval. The agency should give Clovis an answer on whether they'll approve the drug by February 23, 2017.
Rucaparib is a PARP inhibitors, a new type of medicine that blocks a particular enzyme that's used by our cells to repair DNA so that tumors can't survive. This is the same drug that Pfizer sold the rights to in 2011, and has since picked up a competing drug in its $14 billion Medivation acquisition.
Here's the chart right after the news release dropped.
Google Finance
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema
- Realme C65 5G with 5,000mAh battery, 120Hz display launched starting at ₹10,499
- 8 Fun things to do in Kasol
- SC rejects pleas seeking cross-verification of votes cast using EVMs with VVPAT
- Ultraviolette F77 Mach 2 electric sports bike launched in India starting at ₹2.99 lakh
- Deloitte projects India's FY25 GDP growth at 6.6%