Seeking Alpha

As Clovis rumor rally fades, Ariad, Tesaro move higher by association

  • 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.
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