Clovis Oncology, Inc. (CLVS) Bundle
A Brief History of Clovis Oncology, Inc. (CLVS)
Foundation and Formation
Clovis Oncology, Inc. was founded in 2009 by Patrick Mahaffy, who also served as the CEO. The company was established with a focus on developing innovative cancer therapies.
Initial Public Offering
Clovis Oncology went public on November 2, 2013, raising approximately $100 million in its IPO. The shares were priced at $12 each on the NASDAQ under the ticker symbol CLVS.
Key Product Development
- Rociletinib: The company focused on the development of rociletinib (also known as CO-1686), an investigational drug targeting EGFR mutations in non-small cell lung cancer.
- Clovis's FDA Approval: In 2016, Clovis received FDA approval for its drug Rubraca (rucaparib) for the treatment of ovarian cancer, which made it a significant player in the oncology sector.
Financial Performance
In fiscal year 2020, Clovis Oncology reported revenue of $49.5 million, a slight increase from $48.9 million in 2019.
As of September 30, 2023, Clovis Oncology reported cash and cash equivalents of approximately $127.1 million
Stock Performance
As of October 2023, the stock price of Clovis Oncology was around $1.50 per share, reflecting significant volatility since its IPO.
Partnerships and Collaborations
Clovis Oncology has entered into collaborations, including a strategic partnership with AbbVie focused on cancer research, which was announced in 2017.
Challenges and Restructuring
Facing financial challenges, Clovis Oncology undertook restructuring efforts in 2021, which included workforce reductions and a strategic focus on its remaining pipeline products.
Clinical Trials and Pipeline
Clovis has several ongoing clinical trials, including those evaluating Rubraca in combination with other therapies to expand its indications.
| Year | Revenue (in millions) | Stock Price (End of Year) | Cash & Equivalents (in millions) |
|---|---|---|---|
| 2013 | N/A | $12.00 | N/A |
| 2016 | 10.2 | $46.50 | N/A |
| 2019 | 48.9 | $3.00 | N/A |
| 2020 | 49.5 | $5.32 | N/A |
| 2023 | N/A | $1.50 | 127.1 |
A Who Owns Clovis Oncology, Inc. (CLVS)
Ownership Structure
Ownership Structure
As of October 2023, Clovis Oncology, Inc. (CLVS) has a diverse ownership structure that includes a mix of institutional, retail investors, and insider holdings. The distribution of ownership is crucial for understanding who controls the strategic direction and financial health of the company.
| Ownership Type | Percentage Owned | Total Shares |
|---|---|---|
| Institutional Investors | 85.34% | 40,000,000 |
| Insider Ownership | 5.89% | 2,750,000 |
| Retail Investors | 8.77% | 4,100,000 |
Major Institutional Shareholders
Key institutional shareholders have a significant influence on Clovis Oncology, Inc., often dictating the governance of the company through voting rights and engagement with management.
| Institution | Percentage Owned | Total Shares |
|---|---|---|
| BlackRock, Inc. | 15.20% | 7,000,000 |
| The Vanguard Group | 10.35% | 4,800,000 |
| FMR LLC (Fidelity) | 10.01% | 4,600,000 |
| State Street Corporation | 8.75% | 4,000,000 |
Insider Ownership Details
The management and board members of Clovis Oncology, Inc. hold a significant portion of shares, reflecting their commitment to the company's success.
| Insider Name | Position | Number of Shares Owned |
|---|---|---|
| Patrick J. Mahaffy | CEO | 1,100,000 |
| G. W. (Bill) O'Brien | CFO | 800,000 |
| Dr. Charles A. G. J. D. H. Decker | Chief Medical Officer | 300,000 |
Retail Investor Participation
Retail investors play an important role in the ownership structure of Clovis Oncology, contributing to liquidity and market sentiment.
- Retail Ownership Percentage: 8.77%
- Total Retail Shares: 4,100,000
- Average Investment: Approximately $5,000 per investor
Recent Stock Performance
The stock performance of Clovis Oncology, Inc. has shown fluctuations that correlate with the company’s developments and broader market trends.
| Date | Closing Price | Market Capitalization |
|---|---|---|
| October 1, 2023 | $2.25 | $100,000,000 |
| September 1, 2023 | $1.80 | $80,000,000 |
| August 1, 2023 | $2.00 | $90,000,000 |
Comparative Industry Ownership
In comparison to its industry, Clovis Oncology, Inc. occupies a unique position regarding its ownership distribution.
| Company | Institutional Ownership (%) | Insider Ownership (%) |
|---|---|---|
| Celgene Corporation | 85.00% | 5.50% |
| Exelixis, Inc. | 83.00% | 6.00% |
| Blueprint Medicines Corporation | 80.00% | 7.00% |
Clovis Oncology, Inc. (CLVS) Mission Statement
Overview of Clovis Oncology
Clovis Oncology, Inc. is a biopharmaceutical company focused on the development of innovative cancer therapies. The company is headquartered in Boulder, Colorado, and operates primarily in the oncology sector with an emphasis on precision medicine.
Mission Statement
The mission of Clovis Oncology is to improve the lives of patients with cancer by developing innovative therapeutics that are guided by science and patient need. Clovis is dedicated to the identification and development of products that target specific molecular pathways associated with cancer progression.
Core Values
- Integrity: Upholding ethical standards and transparency.
- Innovation: Pursuing groundbreaking scientific advancements.
- Collaboration: Working together with healthcare professionals and stakeholders.
- Responsibility: Committing to patient-centered outcomes and the broader community.
Financial Performance
As of October 2023, Clovis Oncology reported the following financial metrics:
| Metric | Value |
|---|---|
| Market Capitalization | $74 million |
| Total Revenue (TTM) | $2.98 million |
| Net Income (Q2 2023) | -$22.1 million |
| Cash and Cash Equivalents (Q2 2023) | $30.2 million |
| Debt to Equity Ratio | 1.53 |
| Operating Expenses (Q2 2023) | $27.9 million |
Product Pipeline
Clovis Oncology is focused on the following investigational drugs:
- Rubraca (rucaparib): Indicated for the treatment of ovarian cancer.
- Clovis 202: Undergoing trials for non-small cell lung cancer (NSCLC).
- Pipeline Drugs: Including various candidates in early-stage clinical trials.
Recent Developments
As of September 2023, the company has made strides with the following updates:
- FDA Approval: Received accelerated approval for Rubraca in combination therapies.
- Clinical Trial Results: Reported encouraging data from phase II studies.
- Partnerships: Collaborated with multiple institutions for research and development.
Commitment to Patients
Clovis Oncology emphasizes a patient-centric approach, ensuring that the development of therapies is closely aligned with patient needs, treatment efficacy, and safety profiles.
Community Engagement
Through various initiatives, Clovis seeks to enhance its engagement with the patient community:
- Patient Advocacy: Collaborating with organizations to support cancer awareness.
- Research Grants: Providing funding for innovative cancer research.
- Educational Programs: Offering resources and information for patients and healthcare providers.
How Clovis Oncology, Inc. (CLVS) Works
Company Overview
Company Overview
Clovis Oncology, Inc. (CLVS) is a biopharmaceutical company focused on acquiring, developing, and commercializing innovative anti-cancer drugs. Founded in 2009, Clovis is headquartered in Boulder, Colorado.
Key Products
Clovis Oncology's main product is Rubraca (rucaparib), a PARP inhibitor approved for the treatment of patients with certain types of ovarian cancer. As of 2023, this drug had received FDA approval for use in both advanced ovarian cancer and as a maintenance therapy following platinum-based chemotherapy.
| Product | Indication | FDA Approval Date | Sales (2022) |
|---|---|---|---|
| Rubraca | Ovarian Cancer | December 2016 | $91 million |
Financial Performance
As of Q2 2023, Clovis Oncology reported total revenues of approximately $21 million for the first half of the fiscal year. The operating expenses for the same period totaled around $72 million.
| Financial Metrics | Q2 2023 | Q1 2023 | 2022 |
|---|---|---|---|
| Revenue | $10.5 million | $10.5 million | $91 million |
| Net Loss | ($34 million) | ($38 million) | ($192 million) |
| Cash and Cash Equivalents | $58 million | $65 million | $72 million |
Research and Development
Clovis Oncology invests heavily in R&D to expand its pipeline. For the fiscal year 2022, the company reported R&D expenses of about $96 million, contributing to ongoing clinical trials for the advancement of therapies targeting various cancers.
Clinical Trials
- Rubraca was evaluated in several Phase III trials for ovarian cancer.
- Studies are ongoing for potential indications in breast and prostate cancers.
- Partnerships with research institutions enhance innovation and drug development.
Market Position
- Rubraca was evaluated in several Phase III trials for ovarian cancer.
- Studies are ongoing for potential indications in breast and prostate cancers.
- Partnerships with research institutions enhance innovation and drug development.
Market Position
As of October 2023, Clovis Oncology maintains a competitive position in the oncology market, although it faces challenges from other pharmaceutical companies developing similar therapeutic agents. The global PARP inhibitor market was valued at approximately $4 billion in 2022.
Challenges and Risks
The company faces various risks such as regulatory hurdles, competition, and funding limitations. In 2023, the company initiated measures to reduce operating costs by approximately $30 million annually.
Future Outlook
Analysts predict the oncology market will continue to grow, with estimates projecting a CAGR of 8% from 2023 to 2030. Clovis Oncology aims to leverage this growth through strategic partnerships and innovative research initiatives.
How Clovis Oncology, Inc. (CLVS) Makes Money
Product Revenue
Clovis Oncology generates revenue primarily through the sale of its pharmaceutical products. The company’s flagship product is Rubraca (rucaparib), a PARP inhibitor used in the treatment of certain cancers.
As of Q3 2023, Clovis reported $23.7 million in product revenue from Rubraca sales.
Sales Breakdown
| Year | Rubraca Sales (in millions) | Percentage Change |
|---|---|---|
| 2021 | $73.2 | -15% |
| 2022 | $65.6 | -10.9% |
| 2023 | $23.7 | -63.8% |
Research Collaborations and Partnerships
In addition to product sales, Clovis Oncology engages in collaborative research and licensing agreements with other biopharmaceutical companies and institutions. These partnerships often provide upfront payments, milestone payments, and royalties on future sales.
For example, a collaboration with Pfizer yielded a $5 million upfront payment in 2022.
Grants and Funding
Clovis Oncology also seeks funding through grants and public funding initiatives aimed at supporting oncology research. As of 2023, Clovis received $2 million in grants from the National Institutes of Health (NIH) for ongoing clinical trials.
Cost Management
Effective cost management is essential for Clovis’s financial health. The company reported total operating expenses of $89 million in the first three quarters of 2023, a decrease of 15% compared to the same period in 2022.
Financial Performance Indicators
| Indicator | 2021 | 2022 | 2023 (Q3) |
|---|---|---|---|
| Total Revenue (in millions) | $73.2 | $65.6 | $23.7 |
| Net Loss (in millions) | ($51.8) | ($55.1) | ($45.3) |
| Cash and Cash Equivalents (in millions) | $99.5 | $81.4 | $47.2 |
Market Position and Competition
Clovis competes in the oncology market with other major players, including Merck and AstraZeneca, which also offer PARP inhibitors. Maintaining a competitive edge is crucial for sustaining revenue.
Future Outlook
The company is focusing on expanding the indications for Rubraca and exploring new therapeutic areas. Upcoming clinical trials are expected to provide additional data that could enhance market potential.
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