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Fly News Breaks for March 14, 2017
AZN, CLVS
Mar 14, 2017 | 16:17 EDT
Piper Jaffray analyst Steven Breazzano said the detailed results from AstraZeneca's (AZN) SOLO-2 maintenance study of Lynparza highlights a PFS benefit and favorable hazard ratio, which he views as confirming that PARP inhibitors are "more similar than different." He believes this data provides a favorable read through to Clovis' (CLVS) Rubraca, which he thinks will "succeed with a similar magnitude of benefit" in the ARIEL3 maintenance study. Breazzano keeps an Overweight rating and $77 price target on Clovis shares, which finished up 10.5% at $66.95 following AstraZeneca's announcement.
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