- The rally in Clovis Oncology (CLVS +5.9%) seems to be fading a bit after the stock jumped nearly 18% on a Bloomberg report which suggested the company may be pursuing a sale.
- Worth watching on the news is Ariad (ARIA +3.6%), which rallied when the story broke. ARIA's AP26113 is an ALK, EGFR, and ROS1 inhibitor. CLVS' lead compound CO-1686 is also an EGFR inhibitor.
- Likewise getting a bump around the time the news hit was Tesaro (TSRO +0.2%), whose Niraparib is (like CLVS' Rucapari) a PARP inhibitor.
- Another notable company with a PARP inhibitor: BMRN, which is itself no stranger to acquisition rumors.
As Clovis rumor rally fades, Ariad, Tesaro move higher by association
Sep 17 2013, 15:15 ET