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
CVX Earnings: Chevron reports lower revenue and profit for Q1 2024
Energy exploration company Chevron Corporation (NYSE: CVX) announced first-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation was $5.50 billion or
ABBV Earnings: AbbVie reports lower adj. profit for Q1 2024; revenue edges up
Specialty biopharmaceutical company AbbVie, Inc. (NYSE: ABBV) Friday announced first-quarter 2024 financial results, reporting a decline in adjusted earnings and a modest rise in revenues. The company reported worldwide net
CL Earnings: Key quarterly highlights from Colgate-Palmolive’s Q1 2024 financial results
Colgate-Palmolive Company (NYSE: CL) reported first quarter 2024 earnings results today. Net sales increased 6.2% year-over-year to $5.06 billion. Organic sales increased 9.8%. Net income attributable to Colgate-Palmolive Company was
Comments
Comments are closed.