Clovis Oncology Inc. (CLVS) saw its loss narrow to $58.46 million, or $1.33 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $83.40 million, or $2.17 a share. Revenues for the quarter were $7.04 million. The company has not recorded any revenues for the previous year period. Gross margin for the quarter was at 78.21 percent.
Operating loss for the quarter was $56.16 million, compared with an operating loss of $84.95 million in the previous year period.
“This is an exciting time at Clovis, with a robust U.S. launch of Rubraca underway, ARIEL3 topline results expected by the end of June, and our efforts underway to prepare for a potential E.U. launch early next year,” said Patrick J. Mahaffy, president and chief executive officer of Clovis Oncology. “In addition, we continue to expand our clinical development program for rucaparib in other indications where rucaparib may provide benefit to patients, either as monotherapy or in combination with other agents.”
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