Wednesday, May 4, 2022

Clovis: Revenue decline on Rubraca sales

 

  • ATHENA study evaluating Rubraca® (rucaparib) monotherapy versus placebo (ATHENA-MONO) in first-line ovarian cancer maintenance treatment successfully achieved the primary endpoint of improved PFS in both populations in the primary efficacy analyses: HRD-positive and all patients randomized (ITT)

    • Median PFS of 20.2 months for Rubraca vs 9.2 months for placebo in ITT population

    • Late-breaker data to be presented in oral session at 2022 ASCO Annual Meeting on Monday, June 6

  • Two additional top-line Phase 3 data read-outs for Rubraca expected in next 12 months with potential to address ovarian and prostate cancer patient populations

  • Initial Phase 1 clinical data for targeted radiotherapy candidate FAP-2286 to be presented in oral presentation at SNMMI 2022 Annual Meeting on Tuesday, June 14

    • Initiation of Phase 2 expansion cohorts in multiple tumor types anticipated in Q4 2022

  • $34.2M in Rubraca global net product revenues for Q1 2022, down 10% vs Q1 2021 and down 5% vs Q4 2021

    • Continued impact of COVID-19 on ovarian cancer diagnoses and treatments

  • Reduction in R&D expense of $10.6M or 20% compared to Q1 2021

  • $122.2M in cash and cash equivalents and $18.6M in available funding under the ATHENA financing at March 31, 2022

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