Clovis Oncology (CLVS) Stock Flies Despite Lacklustre Earnings

CLVS stock is one of the most active stock gainers this morning after Clovis Oncology Inc (NASDAQ:CLVS) reported its first-quarter results.

Clovis Oncology (CLVS) Stock Flies Despite Lacklustre Earnings

The company said that net product revenues for Rubraca fell 11% year-over year $38.1 million from $42.6 million.

Importantly, the first quarter of 2020 was the Company’s strongest quarter of US Rubraca sales to date, and the COVID-19 pandemic had limited, if any, effect on Q1 2020 net revenues.

For the latest quarter, the company reported a loss of $66.3 million or 64 cents a share, missing Zacks Consensus Estimate by 8 cents. In the year-ago quarter, the company had a loss of $99.3 million or $1.28 a share.

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After falling about 55 in the early session, CLVS stock turned higher and now trading higher by 14% at $6.28. CLVS stock is up about 30% so far this year.

 

 

 

 

Alex Krakowsky

Editor in Chief. Living in the era of dynamic tech change Alex decided to stay tuned in changes that make any person find comfort and adapt to new devices. Furthermore, gaming became his passion for spending leisure time with his close ones. Although, he has a degree in Business Administration (majoring in Finance) writing for technology and as well as finance has been one of the precious aspects of his life