Clovis soars as its PARP drug rucaparib lines up for FDA review with positive data
Clovis Oncology stock $CLVS shot up 30% Tuesday afternoon after the biotech laid out competitive pivotal data for its PARP inhibitor rucaparib, which has now been accepted by the FDA for a priority review. The biotech says it is now starting the clock for a review that should wrap with a formal decision by February 23 as several late-stage rivals look to steal its thunder. The move comes just a day after Pfizer completed a deal to buy Medivation and its Phase III PARP inhibitor talazoparib for $14 billion.
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