Clovis Oncology mulling strategic options, including possible sale: report

According to people with knowledge of the situation, Clovis Oncology is working with advisers to evaluate its strategic options, including a potential sale of the company, reported Bloomberg on Tuesday. The process is still in the early stages and the company is not yet holding exclusive discussions with any potential acquirer, one of the sources said.

By selling now, Clovis would benefit from increasing interest in the biotechnology sector by pharmaceutical companies looking to bolster their pipelines, according to one of the sources. Clovis spokeswoman Breanna Burkart said the company does not respond to «market rumours.»

In June, the drugmaker reported positive early-stage results for its experimental ovarian cancer therapy rucaparib. The company alsosaid Phase I results for its experimental compound, CO-1686, showed a response in patients with metastatic or unresectable recurrent non-small-cell lung cancer who also had a documented EGFR mutation.

Source: firstwordpharma.com