Clovis Oncology (CLVS) - Get Clovis Oncology, Inc. Report shares rose sharply Friday after the cancer pharmaceutical company announced that its Rubraca treatment for ovarian cancer met its primary endpoint in a Phase 3 trial.
“The data demonstrate that Rubraca significantly improves PFS [progression-free survival] compared to standard-of-care chemotherapy, including platinum-based chemotherapy, among patients with advanced, relapsed ovarian cancer and a deleterious BRCA mutation who have received two or more prior lines of chemotherapy,” the company said.
Clovis shares traded Thursday at $8.38, up 57.2%. They have climbed 16% over the past six months, but plunged 49% from Feb. 8 through Thursday.
“Data from the ARIEL4 study meaningfully enhance our understanding about the role of Rubraca among women with BRCA mutation-positive relapsed ovarian cancer, as well as the clinical relevance of BRCA reversion mutations,” said Dr. Rebecca Kristeleit, co-coordinating investigator of Ariel4.
“This is important because women with more advanced disease have fewer treatment options, and it is increasingly important to understand how specific mutations affect treatment outcomes,” Kristeleit added.
The study enrolled 349 women in Europe, Israel and North and South America.
According to the American Cancer Society, more than an estimated 21,000 women will be diagnosed with ovarian cancer in the U.S., and there will be an estimated nearly 14,000 deaths from ovarian cancer in 2021, Clovis said.
“The ARIEL4 data add to the growing scientific understanding about the clinical utilization of Rubraca compared to chemotherapy, including platinum-based chemotherapy, for women diagnosed with BRCA mutation-positive advanced ovarian cancer,” said Patrick J. Mahaffy, president and CEO of Clovis Oncology. “We remain committed to expanding treatment options for patients living with cancer and are pleased to share these data with physicians and their patients to help improve outcomes for women with ovarian cancer.”