Is Clovis Oncology A Takeover Candidate?
- Clovis reported excellent results for its PARP inhibitor rucaparib.
- There is a speculation in some quarters of a quick takeover.
- A takeover, if it happens, will imply a moderate to hefty premium.
By S. Mitra, with inputs from Dr. U.K. Maiya
Clovis Oncology (NASDAQ:CLVS) kicked off the week for the biotech sector on a very bullish note when it reported positive data from the late-stage study of Rubraca (rucaparib). CLVS shares jumped 50% on the solid trial results. Post these results, Clovis is also seen as a takeover target. But is the acquisition premium already priced into the stock following the surge earlier this week? That is the main question to answer for Clovis investors.
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