Clo­vis says it needs mon­ey af­ter re­verse split vot­ed down; Cin­Cor touts PhII da­ta for hy­per­ten­sion drug

Clo­vis On­col­o­gy needs a se­ri­ous leg up af­ter post­ing a $71.3 mil­lion net loss in Q2.

Ac­cord­ing to the com­pa­ny’s Q2 re­port, based on its cur­rent cash, cash equiv­a­lents and liq­uid­i­ty the com­pa­ny will need to raise ad­di­tion­al cap­i­tal in the near term to con­tin­ue go­ing on be­yond Feb­ru­ary of next year.

A pro­posed re­verse stock split of Clo­vis’ com­mon stock, which would have freed up more cap­i­tal, was not ap­proved at its an­nu­al meet­ing of stock­hold­ers. The com­pa­ny said in the re­port it is look­ing at oth­er sources of fund­ing such as strate­gic part­ner­ships or li­cens­ing arrange­ments for one or more of its prod­ucts or can­di­dates.

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