On January 7, 2019 Clovis Oncology, Inc. (NASDAQ:CLVS) reported its preliminary, unaudited revenues for the fourth quarter and full year ended December 31, 2018 (Press release, Clovis Oncology, JAN 7, 2019, View Source [SID1234532532]). The financial information presented in this news release may be adjusted as a result of completion of customary quarterly review and audit procedures.
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Unaudited preliminary results include:
$30.3-$30.8M in Rubraca product revenues for the fourth quarter of 2018 compared to $22.8M for Q3 2018 and $17.0M for Q4 2017
$95.3-$95.8M in Rubraca product revenues for the full year 2018 compared to $55.5M for FY2017
Free drug was an additional approximately 25 to 27 percent of overall commercial supply for Q4 and FY2018
$518-$521M in cash, cash equivalents and available-for-sale securities at December 31, 2018
Clovis plans to discuss these results with investors this week at the 37th Annual J.P. Morgan Healthcare Conference in San Francisco.
"We are very pleased with our sales performance in the fourth quarter and the momentum it provides going into this year," said Patrick J. Mahaffy, CEO and President of Clovis Oncology. "Following the recent CHMP recommendation for our second ovarian cancer approval in Europe, Breakthrough Therapy Designation and a potential supplemental NDA in prostate cancer by the end of this year, as well as our successful defense last month of the rucaparib camsylate salt/polymorph patent in Europe, we feel extremely well-positioned for a strong 2019."
Clovis Oncology to Present at 37 th Annual J.P. Morgan Healthcare Conference on January 8, 2019
Clovis’ President and CEO, Patrick J. Mahaffy, will present at the 37th Annual J.P. Morgan Healthcare Conference to be held at the Westin St. Francis hotel in San Francisco on Tuesday, January 8, at 4:30 p.m. PT. A live webcast of the presentation and Q&A session can be accessed through the investor relations section of the Company’s website at clovisoncology.com. Following the live presentation, a replay of the webcast will be available on the Company’s website for 30 days.
Fourth Quarter and Full Year 2018 Financial Results Release Planned for February 26, 2019
The Company plans to report financial results for the fourth quarter and full year ended December 31, 2018, on Tuesday, February 26, 2019, after the close of the U.S. financial markets. Clovis’ senior management will host a conference call and live audio webcast at 4:30 p.m. ET to discuss the company’s results in greater detail.
About Rubraca (rucaparib)
Rubraca is an oral, small molecule inhibitor of PARP1, PARP2 and PARP3 being developed in ovarian cancer as well as several additional solid tumor indications. Studies open for enrollment or under consideration include ovarian, prostate, breast, gastroesophageal, pancreatic, lung and bladder cancers. Clovis holds worldwide rights for Rubraca.
In the United States, Rubraca is approved for the maintenance treatment of adult patients with recurrent epithelial ovarian, fallopian tube, or primary peritoneal cancer who are in a complete or partial response to platinum-based chemotherapy. Rubraca is also approved in the United States for the treatment of adult patients with deleterious BRCA mutation (germline and/or somatic) associated epithelial ovarian, fallopian tube, or primary peritoneal cancer who have been treated with two or more chemotherapies and selected for therapy based on an FDA-approved companion diagnostic for Rubraca.
Rubraca is an unlicensed medical product outside of the U.S. and EU.