Clovis Oncology, Inc. (CLVS) saw its loss narrow to $70.73 million, or $1.83 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $119.54 million, or $3.12 a share. On the other hand, adjusted net loss for the quarter narrowed to $70.73 million, or $1.83 a share from a loss of $85.43 million or $2.23 a share, a year ago.
Revenues for the quarter were $0.08 million. The company has not recorded any revenues for the previous year period. Gross margin for the quarter was at 10.26 percent.
Operating loss for the quarter was $67.14 million, compared with an operating loss of $146.91 million in the previous year period.
"We are extremely pleased with the Rubraca launch to date; our commercial team hit the ground running and we are committed to the successful launch of this new therapeutic option for the treatment of advanced ovarian cancer," said Patrick J. Mahaffy, president and chief executive officer of Clovis Oncology. "We are preparing for a potential approval in the EU in late 2017 or early 2018, and are aggressively building our European organization. We continue to anticipate the ARIEL3 read out in mid-2017, and we look forward to expanding the TRITON program into earlier line castrate-resistant prostate cancer. We will provide additional details on this study and other clinical development plans to develop rucaparib in other indications as well as in combination with an immuno-oncology agent over the course of this year."
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