In the recent past Clovis Oncology Inc. (NASDAQ:CLVS), has been making headlines for all the right reasons. The biopharmaceutical company has also gone public with its revenues for the fourth quarter and full year ended December 31, 2018. Though unaudited, the preliminary indicates positive momentum. The company collected $30.3-$30.8M for its Rubraca products, which was over and above the $17.0M for Q4 2017. Cash, cash equivalents and available-for-sale securities were at $518-$521M on December 31, 2018.
Clovis Oncology is on a mission to develop innovative anti-cancer agents
The company headquartered in Boulder, Colorado has other offices in the UK, San Francisco and Oakland, Cambridge, and California. It has put so much energy in the development of programs with a primary target on subsections of cancer populations. This is in addition to partnering with other industry players from whom it is likely to benefit
The company’s CEO and President, Patrick J. Mahaffy is elated about the current turn of events in the results. He said, “We are very pleased with our sales performance in the fourth quarter and the momentum it provides going into this year… as well as our successful defense last month of the rucaparib camsylate salt/polymorph patent in Europe.”
The presentation of results took place during the company’s 37th Annual J.P. Morgan Healthcare Conference at the Westin St. Francis Hotel in San Francisco.
The results of Rubraca did the company proud
The development of the oral, small molecule inhibitor will take care of ovarian cancer. It is targeting adult patients who suffer from recurrent epithelial ovarian, fallopian tube cancer. Further studies covering prostate, breast, pancreatic, lung cancers indicate that it is likely to handle several additional solid tumor indications.
Rubraca has the FDA’s approval in the United States to treat adult patients with deleterious BRCA mutation (germline and/or somatic). More often than not, the condition is associated with primary peritoneal cancers, which demand two or more chemotherapies. However, it does not have a licensed outside of the U.S. and EU despite good reports about it. Nonetheless, the company is in possession of its worldwide rights.