Clovis Oncology (CLVS -4.8%) is down, albeit on below-average volume, in apparent response to positive Phase 3 data announced this morning on AstraZeneca and Merck's PARP inhibitor Lynparza (olaparib) in certain metastatic castration-resistant prostate cancer (mCRPC) patients.
Clovis is currently conducting two Phase 3 studies, TRITON2 & TRITON3, evaluating its PARP inhibitor, Rubraca (rucaparib), in mCRPC patients. Preliminary data from TRITON2, presented at ESMO in October 2018, showed a 44% objective response rate (ORR). Management plans to provide a public update on TRITON2 next month.
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