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Fly News Breaks for April 13, 2016
CLVS
Apr 13, 2016 | 08:48 EDT
Janney Capital analyst Roy Buchanan said the FDA advisory committee was more focused than he anticipated on the shortcomings in Clovis's data set for rociletinib and he now expects a CRL to be issued and for the launch of the drug to be pushed out until 2020. He lowered his fair value estimate on Clovis to $24 from $50, but keeps a Buy rating on the stock ahead of an expected rucaparib NDA filing in ovarian cancer this quarter.
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