Clovis: First Quarter Rubraca Sales Miss Views

 

• $38.1M in Rubraca® (rucaparib) global net product revenues for Q1 2021, down 11% vs. Q1 2020, due to continued headwinds from COVID-19 in the US and Europe

• Maintained US market share as US PARP inhibitor market impacted by COVID-19

• Imaging and treatment INDs cleared by FDA for FAP-2286, a novel peptide-targeted radionuclide therapy (PTRT)

• Phase 1/2 LuMIERE study of FAP-2286 expected to open for enrollment this quarter

• Top-line data from Phase 3 ATHENA trial of Rubraca as first-line maintenance treatment for ovarian cancer monotherapy anticipated 2H 2021

• $190.9M in cash and cash equivalents and $61.4M in available funding under the ATHENA financing at March 31, 2021, anticipated to fund the Company’s operating plan into early 2023 based on current revenue and expense forecasts

• $28.1M reduction in R&D and SG&A expense and 25% reduction in net cash used in operating activities compared to Q1 2020

Clovis will hold a conference call to discuss Q1 2021 results this morning, May 5, at 8:30am ET. The conference call will be simultaneously webcast on the Clovis Oncology website www.clovisoncology.com, and archived for future review. Dial-in numbers for the conference call are as follows: US participants (877) 698-7048, International participants (647) 689-5448, conference ID: 3219208.

https://finance.yahoo.com/news/clovis-oncology-announces-first-quarter-120000598.html