-
2018 Rubraca
®
(rucaparib) U.S. sales
totaled $95.4M, including $30.4M for the fourth quarter of 2018
-
Rubraca EU approval granted January 2019 for ovarian cancer
maintenance treatment indication; launch in Germany to initiate on
this Friday, March 1
-
Robust Clovis-sponsored Rubraca development program in place;
enrollment ongoing for clinical studies in ovarian, prostate and
bladder cancers
-
Targeting late 2019 for supplemental NDA filing for BRCA-mutant
advanced prostate cancer, pending data maturity; interim data update
expected at Fall 2019 medical meeting
-
Initial data from ATLAS advanced bladder study expected at a Fall
2019 medical meeting
-
Three studies underway to evaluate Rubraca in combination with
Opdivo
®
(nivolumab) as part of clinical
collaboration with Bristol-Myers Squibb; enrollment ongoing or planned
for ovarian, prostate and bladder studies; active discussions underway
for additional tumor types and clinical studies
-
Clinical collaboration with Bristol-Myers Squibb established for
combination of lucitanib and Opdivo; Clovis-sponsored studies to begin
in the first half of 2019
-
$520.1M in cash, cash equivalents and available for sale securities
at December 31, 2018
BOULDER, Colo.--(BUSINESS WIRE)--
Clovis
Oncology, Inc. (NASDAQ:CLVS) reported financial results for the
quarter and year ended December 31, 2018, and provided an update on the
Company’s clinical
development programs and regulatory and commercial outlook for 2019.
“We are pleased to have renewed U.S. revenue growth in the fourth
quarter, and with our maintenance treatment indication approved in the
EU, we look forward to our initial European launch in Germany on March
1,” said Patrick J. Mahaffy, President and CEO of Clovis Oncology. “In
addition, we are targeting an sNDA filing for BRCA1/2-mutant metastatic
castration-resistant prostate cancer (mCRPC) in late 2019, and we expect
to present data from both the TRITON2 mCRPC study and the ATLAS study in
advanced bladder cancer at a Fall 2019 medical meeting. We are also very
pleased to further our clinical collaboration with Bristol-Myers Squibb
to not only include a combination study of Opdivo and lucitanib, but
also to discuss tumor types for potential additional combination studies
with Rubraca.”
Fourth Quarter and Year-End 2018 Financial Results
Clovis reported product revenue for Rubraca of $30.4 million for the
fourth quarter of 2018 and $95.4 million for the year ended December 31,
2018. For both the fourth quarter and year, the supply of free drug
distributed to eligible patients through the Rubraca patient assistance
program was approximately 26 percent of overall commercial supply. This
represented $10.4 million in commercial value for the fourth quarter and
$33.4 million in commercial value for the full year. Net product revenue
for the quarter and fiscal year ended December 31, 2017 was $17.0
million and $55.5 million. Rubraca was initially approved and launched
in the ovarian cancer treatment setting in the U.S. in December 2016 and
in April 2018 the Rubraca label was expanded to include the broader and
earlier-line maintenance treatment indication.
Clovis had $520.1 million in cash, cash equivalents and
available-for-sale securities as of December 31, 2018. Cash used in
operating activities was $82.7 million for the fourth quarter of 2018
and $366.0 million for the year ended December 31, 2018, compared with
$65.6 million and $260.9 million for the comparable periods of 2017.
This includes product supply costs of $22.7 million in the fourth
quarter of 2018 and $98.8 million for the year ended December 31, 2018,
compared to $12.0 million and $53.5 million for the comparable periods
in 2017. Clovis had approximately 52.8 million shares of common stock
outstanding as of December 31, 2018. In April 2018, Clovis raised net
proceeds of $93.9 million through an offering of 1.8 million shares of
common stock and $290.9 million in proceeds on $300 million aggregate
principal amount of 1.25% convertible senior notes due 2025. The net
proceeds from these offerings were $384.8 million, after deducting
underwriting discounts and commissions, and offering expenses.
Clovis reported a net loss for the fourth quarter of 2018 of $99.3
million, or ($1.88) per share, and $368.0 million or ($7.07) per share
for the year ended December 31, 2018. The net loss for the fourth
quarter of 2017 was $51.9 million, or ($1.04) per share and $346.4
million, or ($7.36) per share for the year ended December 31, 2017. Net
loss for the fourth quarter of 2018 included share-based compensation
expense of $11.4 million and $49.1 million for the full year 2018,
respectively, compared to $12.5 million and $44.7 million for the
comparable periods of 2017.
The net loss for the year ended December 31, 2018 includes a one-time
charge of $20 million related to a final settlement reached with the
Securities and Exchange Commission which resolves their investigation
related to rociletinib, and a charge of $8.0 million related to a legal
settlement. The net loss for the year ended December 31, 2017 included a
charge of $105.5 million related to the portion of a legal settlement
that was paid in Clovis common stock. The adjusted net loss excluding
these items was $99.3 million or ($1.88) per share for the fourth
quarter and $340.0 million or ($6.53) per share for the fiscal year
ended 2018 and $63.4 million or ($1.27) per share for the fourth quarter
and $240.9 million or ($5.12) per share for the fiscal year ended 2017.
Research and development expenses totaled $71.2 million for the fourth
quarter of 2018, and $231.3 million for the full year 2018, compared to
$38.0 million and $142.5 million, respectively, for the comparable
periods in 2017. The increase year over year is primarily due to higher
research and development costs for rucaparib clinical trials, including
increased enrollment in ongoing ovarian and prostate studies, increased
costs related to initiating new ovarian and bladder studies during 2018,
as well as additional headcount to support these increased rucaparib
clinical trial activities.
Selling, general and administrative expenses totaled $49.1 million for
the fourth quarter of 2018, and $175.8 million for the full year 2018,
compared to $38.5 million and $138.9 million for the comparable periods
in 2017. The increase year over year is primarily due to higher selling,
general and administrative expenses related to the commercialization of
Rubraca in the U.S. and the EU, including facility expenses and
personnel expenses associated with establishing the EU infrastructure.
Key Milestones and Objectives for Rubraca
Recurrent Ovarian Cancer Maintenance Treatment Indication Approved in
both U.S. and the EU
In April 2018, Rubraca was granted its second indication by the U.S. FDA
as maintenance treatment of adult patients with recurrent epithelial
ovarian, fallopian tube, or primary peritoneal cancer who are in a
complete or partial response to platinum-based chemotherapy. This
approval, in a broader and earlier-line indication, was based on
positive data from the phase 3 ARIEL3 clinical trial. Biomarker testing
is not required for patients to be prescribed Rubraca in this
maintenance treatment indication.
In January 2019, the European Commission (EC) also approved the use of
Rubraca for its second indication, as monotherapy for the maintenance
treatment of adults with platinum-sensitive relapsed high-grade
epithelial ovarian, fallopian tube, or primary peritoneal cancer who are
in response (complete or partial) to platinum-based chemotherapy. This
approval expands rucaparib’s indication beyond its initial marketing
authorization in the EU granted in May 2018, and in this indication
Rubraca is available to eligible patients regardless of their BRCA
mutation status. Rucaparib was the first PARP inhibitor licensed for an
ovarian cancer treatment indication in Europe and is the first to be
available for both treatment and maintenance treatment among eligible
patients. Clovis has established its EU organization to support its
initial launch in Germany this Friday, March 1 and anticipates launching
in other EU countries later in 2019 and 2020.
Regulatory Path for Supplemental NDA in BRCA-mutant Advanced Prostate
Cancer Based on TRITON2 Dataset and Breakthrough Therapy Designation
Initial data from the Company’s ongoing TRITON studies of Rubraca in
advanced prostate cancer were presented at the ESMO 2018 Congress
(European Society for Medical Oncology) in October 2018. The initial
TRITON2 data showed a 44% confirmed objective response rate (ORR) by
investigator assessment in 25 RECIST1/PCWG3**
response-evaluable patients with a BRCA1/2 alteration, and
results by independent assessment were consistent. The median duration
of response in these patients had not yet been reached. In addition, a
51% confirmed prostate specific antigen (PSA) response rate was observed
in 45 PSA response-evaluable patients with a BRCA1/2 alteration.
Preliminary safety data for Rubraca in men with mCRPC were consistent
with those observed in patients with ovarian cancer and other solid
tumors.
The TRITON2 results were the basis for Breakthrough Therapy designation
for Rubraca as a monotherapy treatment of adult patients with BRCA1/2
mutated mCRPC who have received at least one prior androgen receptor
(AR)-directed therapy and taxane-based chemotherapy, which was granted
on October 1, 2018 by the U.S. Food and Drug Administration (FDA). Both
studies in the TRITON program, TRITON2 and TRITON3, continue to enroll
patients.
Pending data maturity, Clovis is targeting the filing of a supplemental
NDA (sNDA) for Rubraca in BRCA-mutant advanced prostate cancer in late
2019.
____________________
|
1
|
|
Response Evaluation Criteria in Solid Tumors (RECIST) is a
standardized methodology for determining therapeutic response to
anticancer therapy using changes in lesion appearance on imaging
studies.
|
|
|
|
**
|
|
Prostate Cancer Working Group (PCWG3) is an international
expert committee of prostate cancer clinical investigators who
have recommended modifications to RECIST for use in the conduct of
trials in metastatic castration-resistant prostate cancer (mCRPC)
which were adopted in the TRITON2 protocol.
|
|
|
|
Rubraca Clinical Development
Clovis has a robust clinical development program underway in multiple
tumor types, including Clovis-sponsored, partner-sponsored and
investigator-initiated trials. The following clinical studies are open
for enrollment or are anticipated to open during the next several months:
-
The Clovis-sponsored ARIEL4 confirmatory study in the treatment
setting is a Phase 3 multicenter, randomized study of Rubraca versus
chemotherapy in relapsed ovarian cancer patients with BRCA mutations
who have failed two prior lines of therapy. This study is currently
enrolling patients.
-
The Clovis-sponsored Phase 3 ATHENA study in advanced ovarian cancer
in the first-line maintenance treatment setting evaluating Rubraca
plus Opdivo® (PD-1 inhibitor), Rubraca, Opdivo and
placebo in newly-diagnosed patients who have completed platinum-based
chemotherapy. This study, as part of a broad clinical collaboration
with Bristol-Myers Squibb, is currently enrolling patients.
-
The Clovis-sponsored TRITON3 study, a Phase 3 comparative study in
mCRPC enrolling BRCA-mutant and ATM-mutant (both inclusive of germline
and somatic) patients who have progressed on androgen-receptor
(AR)-targeted therapy and who have not yet received chemotherapy in
the castration-resistant setting. TRITON3 compares Rubraca to
physician’s choice of AR-targeted therapy or chemotherapy in these
patients. This study is currently enrolling patients.
-
The Clovis-sponsored TRITON2 study in mCRPC, a Phase 2 single-arm
study in patients with BRCA mutations (inclusive of germline and
somatic) and is also enrolling patients with deleterious mutations of
other homologous recombination (HR) repair genes. All patients will
have progressed after receiving one line of taxane-based chemotherapy
and one or two lines of AR-targeted therapy. This study is currently
enrolling patients. Updated data from the ongoing TRITON2 study are
anticipated at a Fall 2019 medical meeting.
-
The Clovis-sponsored ATLAS study is a single-arm Phase 2 open-label
monotherapy study of Rubraca in recurrent, metastatic bladder cancer.
This study is currently enrolling patients, and initial data from the
ongoing ATLAS study are anticipated at a Fall 2019 medical meeting.
-
The Phase 1 RUCA-J study, sponsored by Clovis, has identified the
600mg BID dose of rucaparib as the recommended dose in Japanese
patients; this will enable development of a bridging strategy and
potential inclusion of Japanese sites in planned or ongoing global
studies. This study is currently enrolling patients.
-
The Phase 2, open-label, multi-cohort ARIES study evaluating the
combination of Rubraca and Opdivo in patients with relapsed ovarian
cancer and patients with locally advanced or metastatic bladder
carcinoma. This study is sponsored by Clovis and is expected to begin
enrolling patients in the first half of 2019.
-
The Phase 1/2 combination study of sacituzumab govitecan and Rubraca
for the treatment of advanced metastatic triple-negative breast
cancer, relapsed platinum-resistant ovarian cancer and metastatic
urothelial cancers is sponsored by Clovis and is expected to begin
enrolling patients in 2019.
-
The Phase 2 combination study of Opdivo with Rubraca for the treatment
of mCRPC. This study, sponsored by Bristol-Myers Squibb, is being
conducted as an arm in the CHECKMATE 9KD prostate cancer study, and is
currently enrolling patients.
Exploratory studies in other tumor types are also underway, as well as
active discussions with Bristol-Myers Squibb regarding additional
potential combination studies.
Lucitanib Clinical Development
Lucitanib is an investigational, oral, potent inhibitor of the tyrosine
kinase activity of vascular endothelial growth factor receptors 1
through 3 (VEGFR1-3), platelet-derived growth factor receptors alpha and
beta (PDGFRα/β) and fibroblast growth factor receptors 1 through 3
(FGFR1-3), which was previously evaluated in breast and lung cancers in
partnership with Servier. Clovis has global rights (excluding China) for
lucitanib.
Recent data for a drug that inhibits these same three pathways - when
combined with a PD-1 inhibitor - are extremely encouraging and represent
a scientific rationale for the development of lucitanib in combination
with a PD-1 inhibitor, and a Clovis-sponsored study of lucitanib in
combination with Opdivo is planned in gynecologic cancers. Clovis also
intends to initiate a study of lucitanib in combination with rucaparib
in ovarian cancer, based on encouraging data of VEGF and PARP inhibitors
in combination. Each of these Phase 1b/2 studies is expected to initiate
during the first half of 2019.
Conference Call Details
Clovis will hold a conference call to discuss Q4/FY 2018 results this
morning, February 26, at 8:30am ET. The conference call will be
simultaneously webcast on the Company’s web site at www.clovisoncology.com,
and archived for future review. Dial-in numbers for the conference call
are as follows: US participants 866.393.4306, International participants
734.385.2616, conference ID: 6675335.
About Rubraca (rucaparib)
Rubraca is an oral, small molecule inhibitor of PARP1, PARP2 and PARP3
being developed in ovarian cancer as well as several additional solid
tumor indications. Studies open for enrollment or under consideration
include ovarian, prostate, breast, gastroesophageal, pancreatic, lung
and bladder cancers. Clovis holds worldwide rights for Rubraca.
In the United States, Rubraca is approved for the maintenance treatment
of adult patients with recurrent epithelial ovarian, fallopian tube, or
primary peritoneal cancer who are in a complete or partial response to
platinum-based chemotherapy. Rubraca is also approved in the United
States for the treatment of adult patients with deleterious BRCA
mutation (germline and/or somatic) associated epithelial ovarian,
fallopian tube, or primary peritoneal cancer who have been treated with
two or more chemotherapies and selected for therapy based on an
FDA-approved companion diagnostic for Rubraca.
In the EU, Rubraca is approved for the maintenance treatment of adults
with platinum-sensitive relapsed high-grade epithelial ovarian,
fallopian tube, or primary peritoneal cancer who are in response
(complete or partial) to platinum-based chemotherapy. This expands
rucaparib’s indication beyond its initial marketing authorization in the
EU granted in May 2018 and with this label expansion, rucaparib is now
available to patients regardless of their BRCA mutation status. Rubraca
is also approved in the EU for the treatment of adult patients with
platinum sensitive, relapsed or progressive, BRCA mutated (germline
and/or somatic), high-grade epithelial ovarian, fallopian tube, or
primary peritoneal cancer, who have been treated with two or more prior
lines of platinum-based chemotherapy, and who are unable to tolerate
further platinum-based chemotherapy.
Rubraca is an unlicensed medical product outside of the U.S. and the EU.
About
Clovis Oncology
Clovis Oncology, Inc. is a biopharmaceutical company focused on
acquiring, developing and commercializing innovative anti-cancer agents
in the U.S., Europe and additional international markets. Clovis
Oncology targets development programs at specific subsets of cancer
populations, and simultaneously develops, with partners, diagnostic
tools intended to direct a compound in development to the population
that is most likely to benefit from its use. Clovis Oncology is
headquartered in Boulder, Colorado; please visit www.clovisoncology.com
for more information, including additional office locations in the U.S.
and Europe.
To the extent that statements contained in this press release are not
descriptions of historical facts regarding Clovis Oncology, they are
forward-looking statements reflecting the current beliefs and
expectations of management. Examples of forward-looking statements
contained in this press release include, among others, statements
regarding our expectations for submission of regulatory filings, our
plans to present final or interim data on ongoing clinical trials, the
timing and pace of commencement of and enrollment in our clinical
trials, including those being considered, planned or conducted in
collaboration with partners, the potential results of such clinical
trials, changes in drug supply timing and costs and other expenses and
statements regarding our expectations of the supply of free drug
distributed to eligible patients. Such forward-looking statements
involve substantial risks and uncertainties that could cause our future
results, performance or achievements to differ significantly from that
expressed or implied by the forward-looking statements. Such risks and
uncertainties include, among others, the uncertainties inherent in the
market potential of our approved drug, including the performance of our
sales and marketing efforts and the success of competing drugs and
therapeutic approaches, the performance of our third-party
manufacturers, our clinical development programs for our drug candidates
and those of our partners, whether future study results will be
consistent with study findings to date and whether future study results
will support continued development or regulatory approval, the
corresponding development pathways of our companion diagnostics, the
timing of availability of data from our clinical trials and the results,
the initiation, enrollment, timing and results of our planned clinical
trials, the risk that final results of ongoing trials may differ from
initial or interim results as a result of factors such as final results
from a larger patient population may be different from initial or
interim results from a smaller patient population, actions by the FDA,
the EMA or other regulatory authorities regarding data required to
support drug applications and whether to accept or approve drug
applications that may be filed, as well as their decisions regarding
drug labeling, reimbursement and pricing, and other matters that could
affect the development, availability or commercial potential of our drug
candidates or companion diagnostics. Clovis Oncology does not undertake
to update or revise any forward-looking statements. A further
description of risks and uncertainties can be found in Clovis Oncology’s
filings with the Securities and Exchange Commission, including its
Annual Report on Form 10-K and its reports on Form 10-Q and Form 8-K.
|
CLOVIS ONCOLOGY, INC
|
CONSOLIDATED FINANCIAL RESULTS
|
(Unaudited, in thousands, except per share amounts)
|
|
|
|
|
Three Months Ended
December 31,
|
|
|
Twelve Months Ended
December 31,
|
|
|
|
2018
|
|
2017
|
|
|
2018
|
|
2017
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
Product revenue
|
|
|
$
|
30,351
|
|
|
$
|
17,040
|
|
|
|
$
|
95,388
|
|
|
$
|
55,511
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses:
|
|
|
|
|
|
|
|
|
|
|
Cost of sales - product
|
|
|
|
6,182
|
|
|
|
3,332
|
|
|
|
|
19,444
|
|
|
|
10,251
|
|
Cost of sales - intangible asset amortization
|
|
|
|
778
|
|
|
|
370
|
|
|
|
|
2,630
|
|
|
|
1,486
|
|
Research and development
|
|
|
|
71,210
|
|
|
|
38,019
|
|
|
|
|
231,347
|
|
|
|
142,498
|
|
Selling, general and administrative
|
|
|
|
49,148
|
|
|
|
38,523
|
|
|
|
|
175,781
|
|
|
|
138,907
|
|
Total expenses
|
|
|
|
127,318
|
|
|
|
80,244
|
|
|
|
|
429,202
|
|
|
|
293,142
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating loss
|
|
|
|
(96,967
|
)
|
|
|
(63,204
|
)
|
|
|
|
(333,814
|
)
|
|
|
(237,631
|
)
|
|
|
|
|
|
|
|
|
|
|
|
Other income (expense):
|
|
|
|
|
|
|
|
|
|
|
Interest expense
|
|
|
|
(3,591
|
)
|
|
|
(2,631
|
)
|
|
|
|
(13,183
|
)
|
|
|
(10,428
|
)
|
Foreign currency (loss) gain
|
|
|
|
(312
|
)
|
|
|
45
|
|
|
|
|
(346
|
)
|
|
|
(82
|
)
|
Legal settlement gain (loss)
|
|
|
|
-
|
|
|
|
11,523
|
|
|
|
|
(27,975
|
)
|
|
|
(105,477
|
)
|
Other income
|
|
|
|
2,497
|
|
|
|
1,404
|
|
|
|
|
7,917
|
|
|
|
3,643
|
|
Other (expense) income, net
|
|
|
|
(1,406
|
)
|
|
|
10,341
|
|
|
|
|
(33,587
|
)
|
|
|
(112,344
|
)
|
|
|
|
|
|
|
|
|
|
|
|
Loss before income taxes
|
|
|
|
(98,373
|
)
|
|
|
(52,863
|
)
|
|
|
|
(367,401
|
)
|
|
|
(349,975
|
)
|
Income tax (expense) benefit
|
|
|
|
(888
|
)
|
|
|
980
|
|
|
|
|
(608
|
)
|
|
|
3,578
|
|
Net loss
|
|
|
$
|
(99,261
|
)
|
|
$
|
(51,883
|
)
|
|
|
$
|
(368,009
|
)
|
|
$
|
(346,397
|
)
|
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted net loss per common share
|
|
|
$
|
(1.88
|
)
|
|
$
|
(1.04
|
)
|
|
|
$
|
(7.07
|
)
|
|
$
|
(7.36
|
)
|
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted weighted-average common shares outstanding
|
|
|
|
52,724
|
|
|
|
49,973
|
|
|
|
|
52,066
|
|
|
|
47,047
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
RECONCILIATION OF GAAP TO NON-GAAP
|
NET LOSS AND NET LOSS PER SHARE
|
(Unaudited, in thousands, except per share amounts)
|
|
|
|
|
Three Months Ended
December 31,
|
|
|
Twelve Months Ended
December 31,
|
|
|
|
2018
|
|
|
2017
|
|
|
2018
|
|
|
2017
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP net loss
|
|
|
$
|
(99,261
|
)
|
|
|
$
|
(51,883
|
)
|
|
|
$
|
(368,009
|
)
|
|
|
$
|
(346,397
|
)
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
Legal settlement loss (1)
|
|
|
|
-
|
|
|
|
|
(11,523
|
)
|
|
|
|
27,975
|
|
|
|
|
105,477
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP net loss
|
|
|
$
|
(99,261
|
)
|
|
|
$
|
(63,406
|
)
|
|
|
$
|
(340,034
|
)
|
|
|
$
|
(240,920
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP net loss per common share
|
|
|
$
|
(1.88
|
)
|
|
|
$
|
(1.04
|
)
|
|
|
$
|
(7.07
|
)
|
|
|
$
|
(7.36
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP net loss per common share
|
|
|
$
|
(1.88
|
)
|
|
|
$
|
(1.27
|
)
|
|
|
$
|
(6.53
|
)
|
|
|
$
|
(5.12
|
)
|
The Company prepares its consolidated financial statements in
accordance with U.S. GAAP. This press release also contains non-GAAP
measurements of
net loss and net loss per common share that the
Company believes provide useful supplemental information relating to
operating performance and trends
and facilitates comparisons with
other periods. These non-GAAP financial measures should be considered in
addition to, but not as a substitute for, the
information
prepared in accordance with U.S. GAAP.
Explanation of adjustments:
(1) During the three months ended June
30, 2018, the Company recorded a one-time charge of $20.0 million
related to an agreement reached with the SEC to resolve its
investigation.
During the three months ended March 31, 2018, the Company recorded a
one-time charge of $8.0 million related to an agreement to resolve a
potential litigation claim against us and certain of our officers.
During the twelve months ended December 31, 2017, the Company recorded a
$105.5 million legal settlement loss related to a stipulation and
agreement of settlement entered into between the Clovis Defendants and
the plaintiffs to the Consolidated Complaint. During the three months
ended December 31, 2017, the Company recorded an $11.5 million decrease
to the legal settlement loss due to the difference in the volume
weighted average price of the Company's stock over the 10 trading days
immediately preceding the October 26, 2017 hearing date and the closing
stock price on November 2, 2017, the date the Company issued the shares
related to the legal settlement.
|
CONSOLIDATED BALANCE SHEET DATA
|
(Unaudited, in thousands)
|
|
|
|
|
|
|
December 31, 2018
|
|
|
December 31, 2017
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
|
|
|
$
|
221,876
|
|
|
|
$
|
464,198
|
|
Available-for-sale securities
|
|
|
|
|
|
298,270
|
|
|
|
|
99,533
|
|
Working capital
|
|
|
|
|
|
446,550
|
|
|
|
|
545,423
|
|
Total assets
|
|
|
|
|
|
863,560
|
|
|
|
|
735,230
|
|
Convertible senior notes
|
|
|
|
|
|
575,470
|
|
|
|
|
282,406
|
|
Common stock and additional paid-in capital
|
|
|
|
|
|
2,034,195
|
|
|
|
|
1,887,249
|
|
Total stockholders' equity
|
|
|
|
|
|
146,469
|
|
|
|
|
367,636
|
|
|
|
Other Data
|
(Unaudited, in thousands)
|
|
|
|
|
|
|
Twelve Months Ended December 31,
|
|
|
|
|
|
2018
|
|
|
2017
|
|
|
|
|
|
|
|
|
|
Net cash used in operating activities
|
|
|
|
|
|
(365,997
|
)
|
|
|
|
(260,904
|
)
|
|
|
|
|
|
|
|
|
|
Share Based Compensation Expense
|
|
|
|
|
|
49,090
|
|
|
|
|
44,707
|
|
View source version on businesswire.com:
https://www.businesswire.com/news/home/20190226005336/en/
Clovis Oncology, Inc.
Breanna Burkart, 303.625.5023
bburkart@clovisoncology.com
Anna
Sussman, 303.625.5022
asussman@clovisoncology.com
Source: Clovis Oncology, Inc.