BOULDER — Days after it landed approval to make use of its flagship drug to deal with pancreatic most cancers, Clovis Oncology Inc. (Nasdaq: CLVS) mentioned it intends to promote $85 million in new stock.
The Boulder most cancers remedy firm didn’t set a price, quantity or shares or a date for the sale in a submitting to the U.S. Securities and Alternate Fee Monday. Nonetheless, the underwriters J.P Morgan and Bank of America are entitled to purchase $12.75 million worth of stock.
If bought across the firm’s closing share price of $8.96 on Monday, Clovis may add about 9.5 million in shares to its current 76.9 million shares excellent.
The U.S. Meals and Drug Administration accepted Rubraca to be used in sure kinds of prostate most cancers Friday. The drug, which generated $143 million in income in 2019, was beforehand accepted just for ovarian most cancers.
Clovis’ stock dropped 10% in after-hours buying and selling after declining 7.53% throughout regular hours towards the larger 3.8% enhance n the Dow Industrial Common.
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