Clovis Oncology (NASDAQ: CLVS) on Thursday reported second-quarter results that were weaker than the street expectations. Total revenues rose 39% year-over-year to $32.98 million, vs. the Wall Street estimate of $34.92 million.
Q2 loss of $2.27 per share was wider than $1.94 per share it posted last year and worse than the analysts’ estimate of $1.71 per share loss.
CLVS shares plunged 6% during pre-market trading on Thursday. The stock has declined almost 50% since the beginning of this year and is trading near an all-time low.
U.S. sales rose 3% sequentially in Q2. Ex-US net product revenues were lower sequentially in Q2 as initial launch stocking shipments were made in March and reported in Q1. Clovis expects ex-U.S. net product revenues to increase in Q3.
The Colorado-based biopharmaceutical company expects global net product revenue to be in the range of $137 million to $147 million for the full year.
CEO Patrick J. Mahaffy said in a statement, “We continue to make progress in the second-line ovarian cancer maintenance indication in the U.S., and we look forward to the potential prostate indication in the U.S. and launches in additional EU countries to support top-line growth in 2020.”
Most Popular
Important takeaways from Paychex’s (PAYX) Q2 2025 earnings report
Paychex Inc. (NASDAQ: PAYX), a leading provider of human resources and payroll services, reported better-than-expected revenue and profit for the second quarter of fiscal 2025, sending the stock higher soon
Lamb Weston’s (LW) challenges may not end soon, a few points to note
Shares of Lamb Weston Holdings, Inc. (NYSE: LW) turned red in mid-day trade on Friday. The stock has dropped 19% in the past one month. The company delivered disappointing results
CCL Earnings: Carnival Corp. Q4 2024 revenue rises 10%
Carnival Corporation & plc. (NYSE: CCL) Friday reported strong revenue growth for the fourth quarter of 2024. The cruise line operator reported a profit for Q4, compared to a loss
Comments
Comments are closed.