Clovis Oncology Sell-Off May Be Overdone

Published: Aug 01, 2017

Shares of Clovis Oncology Inc. (CLVS) were up 0.2% to $85 in after-hours trading on Monday, July 31, after finishing the trading session down 13.5%.

The Boulder, Colo.-based firm and Bristol-Myers Squibb Co. (BMY) before the market open unveiled a collaboration to evaluate the combination of Bristol-Myers' s immunotherapy Opdivo and Clovis Oncology's poly (ADP-ribose) polymerase (PARP) inhibitor Rubraca in Phase 3 studies in advanced advanced ovarian cancer and advanced triple-negative breast cancers.

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