Clovis falls on lower-than-expected Rubraca sales, guidance

Clovis Oncology Inc. (NASDAQ:CLVS) lost $4.98 (30%) to $11.63 on Wednesday after reporting that ovarian cancer drug Rubraca rucaparib generated 3Q18 sales of $22.8 million, less than analyst estimates of $30.3 million. Although the figure marks a 36% increase over $16.8 million in 3Q17, Rubraca sales decreased sequentially from $23.8 million in 2Q18.

Clovis expects 4Q sales of Rubraca, its only marketed therapy, to be in line with 3Q sales or slightly higher. The Street was anticipating 4Q sales of $39.6 million...