Morgan Stanley analyst Andrew Berens said results from AstraZenecas's (AZN) SOLO-2 trial of Lynparza in second line ovarian cancer maintenance will be presented on March 14 at the Society of Gynecology meeting. Results were previously disclosed that SOLO-2 was successful but details were not communicated. The analyst said strong data could have a positive read through to Clovis' (CLVS) ARIEL3 trial expected in mid-2017 and is unlikely to have an impact on TESARO (TSRO) given niraparib demonstrated broader activity and views shares as fairly valued.

Bearish flow noted in AstraZeneca with 3,362 puts trading, or 1.7x expected. Most active are 4/26 weekly 70 puts and May-24 70 calls, with total volume in those strikes near 3,600 contracts. The Put/Call Ratio is 1.72, while ATM IV is up nearly 2 points on the day. Earnings are expected on April 25th.