Clovis Oncology, Inc. (NASDAQ:CLVS) announced that their clinical trials had very pleasing results that may have made their stock prices to sky rocket with over 50% difference during intraday trading at 87.61 per share on Monday, just $26.78 shy of their historical high priced at $114.39 during September of 2015.
The successful study states that they have achieved a product that demonstrates the ability to delaying ovarian cancer reoccurring in women that are in the advance stages of the disease. According to the company’s press release, the drug called Rucaparib documented during the trials in patients with residual ovarian cancer, showed an even reduced amount of the effects of the tumors.
Patrick J Mahaffy, President and CEO of Clovis Oncology, stated: “We are very pleased with these positive ARIEL3 topline results that strongly demonstrate the potential of rucaparib to help women with platinum-sensitive, advanced ovarian cancer…These results reinforce the potentially foundational role of rucaparib in the management of advanced ovarian cancer, as demonstrated by both investigator review and the blinded independent central review. Most importantly, we are grateful to the patients, caregivers and investigators who participated in this study. We look forward to sharing these data in greater detail at a medical meeting later this year and submitting our sNDA as rapidly as possible, with the ultimate goal of making rucaparib available to more women battling ovarian cancer.”
Robert L. Coleman, M.D., the professor and vice chair, clinical research, in the Department of Gynecologic Oncology and Reproductive Medicine at The University of Texas MD Anderson Cancer Center in Houston and the U.S. Principal Investigator for the ARIEL3 study added, “Based on these encouraging data, it is clear that rucaparib demonstrates a clinically meaningful impact in delaying disease recurrence in women in this trial with advanced ovarian cancer…The PFS and safety results achieved in this study are particularly promising, because they suggest women are able to stay on rucaparib for a prolonged period of time while gaining benefit. It is also clinically significant that rucaparib not only sustained the most recent response to platinum, but in some patients also enhanced that response, including the elimination of residual tumor.”