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.
The Motley Fool recommends BioMarin Pharmaceutical. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.