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
- Luxury “floating” beach unveiled in France, termed an “ecological aberration”
- Scientists think they’ve spotted 60 potential alien power plants in the Milky Way!
- Bread, butter, milk-based health drinks, cooking oils classified as ultra-processed food, ICMR advises restriction
- Debt, equity holders approve merger of IDFC with IDFC First Bank
- Sunrisers Hyderabad to take on Punjab Kings as they look to grab the second spot in IPL points table