Shares of the small-cap biotech Clovis Oncology soared after presenting data on two drugs -- one for lung cancer and another that's tied to the same genetically defective BRCA function that made Angelina Jolie decide to get a double mastectomy.
That would be rucaparib, the PARP inhibitor Clovis licensed from Big Pharma Pfizer. The class of drugs had a big showing at the ASCO conference and caused a number of big pops and drops today.
The unexpectedly strong data for early stage lung cancer drug CO-1686 surprised investors. As potentially the first treatment for those with the T790M mutation, this could be an incredibly important product.
In this video, health-care analyst David Williamson discusses what these events mean for investors in Clovis and also for its competitors.
