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Fly News Breaks for April 14, 2019
CLVS
Apr 14, 2019 | 17:58 EDT
Piper Jaffray analyst Joseph Catanzaro lowered his price target for Clovis to $21 from $23 after the company announced that it was discontinuing the Phase II ATLAS trial of rucaparib in urothelial bladder cancer due to lack of efficacy. The analyst notes that this outcome is "not totally surprising" to him given the limited efficacy observed thus far for PARP inhibitors in the therapeutic setting outside of BRCA+. Catanzaro reiterates a Neutral rating on the shares.
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