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Clovis Oncology, Inc. (CLVS) |
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This company completed an initial public offering (IPO) of its stock in 2010. View articles that reference this company. Recent IPOs: Globe Specialty Metals • LogMeIn • Invesco Mortgage Capital • Medidata • Chemspec |
Clovis Oncology, Inc. (NASDAQ:CLVS) is a biopharmaceutical company which is focused on developing treatments for cancer. Clovis' treatments focus on small-molecule drugs which prevent cancerous cells from growing. The company believes that cancer treatment should be targeted based on the specific tumors with an organ rather than as a single entity. As a result, Clovis' treatments are based on a more patient-specific approach.As of its IPO, Clovis Oncology's lead drugs was in Phase II clinical trials.[1]
Business Overview
Clovis Oncology is pre-revenue as its lead drug is still in clinical trials. As a result, the company has reported a net loss of $37.8M in 2010. Nearly all of this was due to either direct research and development costs or the acquisitions of in-process research and development processes.[2]
New Updates
The company's initial public offering of stock on the NASDAQ occurred on November 15, 2011. The company offered 10M shares each for $13. This was at the bottom of the $13-$15 price range. The company had originally announced that it would sell 9.3M shares. The deal raised a total of $130M. The lead mangers of the deal were JP Morgan and Credit Suisse.[3]
Trends & Forces
Clovis will be prerevenue until at least 2014
Because Clovis' drugs are still in relatively early development stages, the company does not believe it will be able to generate revenue until 2014 at the earliest. This gives the company many opportunities to encounter substantial stumbling blocks. Clovis' drugs are novel and so there is no guarantee that the Food and Drug Administration (FDA) will approve them even if they successfully pass all phases of clinical trials. In addition, expenses from Research & Development may prove larger than Clovis' fund raising abilities.[4]
- ↑ CLVS S-1/A 2011 PROSPECTUS SUMMARY "Overview" pp.1-2
- ↑ CLVS S-1/A 2011 PROSPECTUS SUMMARY "Statement of Operations Data" pp.42
- ↑ Renaissance Capital - IPO Home "Clovis Oncology prices IPO at $13, at low end of the range" Nov 15 2011
- ↑ CLVS S-1/A 2011 PROSPECTUS SUMMARY "Financial Operations Overview" p. 46
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