Clovis had "only" doubled in value through May 31 when the stock really took off following the presentation of data from a phase I study of its lung cancer drug CO-1686 at the American Society of Clinical Oncology (ASCO) annual meeting. When I say "data," I'm barely talking about the plural, given the small number of patients treated in the study. But tumor shrinkage reported with CO-1686 treatment was impressive, particularly in lung cancer patients with a specific mutation that made their tumors unresponsive to currently approved drugs.
Remember when Clovis' previously lead pancreatic cancer drug CO-101 failed a phase III study last year? Yeah, old news and forgotten. Today, analysts and investors are fawning all over CO-1686, predicting Clovis will drastically accelerate development and get the lung cancer drug approved in three years.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV