Clovis Oncology climbs 34% as shareholders reject reverse stock split

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• Clovis Oncology (NASDAQ:CLVS), a biotech focused on anti-cancer agents, added more than 34% on Friday to reach the highest level since April after the company’s shareholders rejected a proposal to implement a reverse stock split.
• Disclosing the outcome of its 2022 stockholder meeting, Clovis (CLVS) said that the shareholders did not approve two proposals: the 1-for-7 reverse stock split and a concurrent plan to decrease the number of authorized shares of common stock.
• The company had previously adjourned its annual meeting to discuss three proposals. However, shareholders greenlighted only one proposal related to a stock incentive plan when the meeting resumed yesterday.
• Despite more than a threefold rise over the past 30 days, Clovis (CLVS) shares remain ~45% lower than the year-ago level, as shown in this graph.

Comments

[User 48828829]

interesting and unknown reasons for the stock price movement both intraday and trend from 65 cents to 2.60+

do investors truly believe a buyout is likely ? or is it shorts and day traders causing spikes and then down turns

no clinical trial or product related press releases, ok, no reverse split and that’s a plus

[Amstragram]

Shame it’s not moving on an actual business news … maybe because there aren’t any

[Biocrest]

Thank you shareholders! We made a good decision

[MrSir]

Any hope of this not going bankrupt?
I almost bought the stock in the Summer of 2018 at a much higher price. What a fortunate decision.

[Mo Money 2011]

Moving on up!

[shakaka]

now its time for big pharma buyout!

[The Reasonable Man]

Let’s hope the same thing happens with HEPA