Shares of Clovis Oncology, Inc. (NASDAQ: CLVS) rocketed 47.74% during the trading session of Friday after the firm disclosed that encouraging results from the Phase III trial for its ovarian cancer drug, Rubraca. The Phase III data disclosed that the drug has shown positive results in the improvement of PFS as compared to the degree of care chemotherapy.
The encouraging results of Rubraca in sufferers who are facing relapsed ovarian cancer and a specific gene variant, recognized as a harmful BRCA mutation. The Phase III study has registered 349 women in multiple nations. After the study, the median PFS for the sufferers who got the treatment of Rubraca was 7.4 months as compared to the 5.7 months for those who have undergone chemotherapy treatment.
Shares of Clovis Oncology have surged 47.74% during the trading session of Friday as the firm has gained +2.54. The firm has reported a trading volume of 330.63 million as compared to the average volume of 8.33 million. Focusing on its liquidity, it has a current ratio of 1.70 and the quick ratio of 1.50. CLVS has a total market capitalization of $864.44 million at the time of writing.
The firm has disclosed that it has observed the adverse events among the trial’s contributors, such as anemia and fatigue, were in line with the known safety profiles of Rubraca and chemotherapy. The firm is trying to create options for victims who are suffering from living cancers.
Furthermore, more than 21,000 females alone in the US are suffering from this ovarian cancer. Nearly 14,000 women lost their lives because of this disease. The new treatment of CLVS is a ray of hope for the females who are encountering the worst impacts of this disease. After getting the regulatory approval in the future the demand for Rubraca will increase more.