Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Clovis Oncology Inc’s (NASDAQ: CLVS) lead asset rucaparib has a poor risk-benefit profile. The candidate’s lack of efficacy over current treatments and safety signals represent “considerable risks” ahead of its PDUFA in February next year, Chardan Capital Markets’ Madhu Kumar said in a report. He initiated coverage of the company with a Sell rating and a price target of $15.
The new drug application [NDA] of Clovis Oncology’s rucaparib for the third-line treatment of ovarian cancers is under priority review by the FDA and has a Prescription Drug User Fee Act [PDUFA] date of February 23, 2017. Kumar believes that the drug will not achieve accelerated approval.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Concerns
- Efficacy: “Rucaparib does not appear to show a clinical benefit over existing therapies,” Kumar wrote.
- Safety: Rucaparib has exhibited multiple higher adverse events as compared to the already approved ovarian cancer drugs.
- Another failure: Another drug candidate rociletinib has recently met with regulatory failure. Pointing out that there are “striking parallels between rucaparib and rociletinib,” the analyst expressed concern over Clovis Oncology’s “ability to achieve regulatory approval on preliminary data in the absence of randomized trials.” He added that the NDA failure represented “additional worrying management signal.”
With approval being potentially delayed until phase III results, along with limited patent life, further limits upside, Kumar noted.
Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email feedback@benzinga.com with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.