What PDUFA date? Clovis shares surge as PARPs get trendy on Wall Street
Yesterday was the official PDUFA date for Clovis Oncology’s rociletinib. But the company — now maintaining very low visibility — let it slide past without formally announcing a rejection that had already been flagged from an earlier communication with the agency.
Clovis’ shares ($CLVS), though, jumped 20% this morning. Why?
That has to do with the spike in Tesaro’s shares ($TSRO), which soared in the wake of progression-free-survival among patients taking niraparib, its PARP inhibitor. Clovis has a late-stage PARP inhibitor, rucaparib, and Tesaro’s win helped boost the Boulder, CO-based biotech’s battered stock.
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