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Fly News Breaks for April 12, 2016
CLVS
Apr 12, 2016 | 14:11 EDT
After an FDA oncology panel voted 12-1 to delay approval of Clovis Oncology's rociletinib pending the TIGER-3 study results, Piper Jaffray analysts Steven Breazzano and Joshua Schimmer said they see no viable regulatory or commercial path forward for the drug and would not be surprised if the company halted all ongoing development of rociletinib. The analysts do not currently model any rociletinib revenue and think halting all development to conserve cash and create optionality may be the best choice. The firm keeps a Neutral rating on Clovis shares.
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