Why Clovis Oncology Shares Jumped 158.9% in June

Clovis Oncology (NASDAQ: CLVS), a biopharmaceutical company that specializes in solid-tumor therapies, saw its shares skyrocket 158.9% in June, according to data from S&P Global Intelligence. The stock closed at $0.6953 a share on May 31 and dropped to $0.6367 on June 2. It hit its high for the month at $2.41 on June 21. The volatile stock has a 52-week low of $0.5810 and a 52-week high of $5.92.

The main reasons for Clovis' rise in the month were two positive announcements regarding trials of its therapies. The first, regarding Rubraca, its only marketed therapy, said that a Phase 3 Athena trial on Rubraca showed it was effective as a maintenance monotherapy to fight advanced ovarian cancer in patients who previously responded to chemotherapy.

The other announcement was that Clovis' targeted radionuclide therapy, FAP-2286, had a strong safety profile in its Phase 1/2 trial against solid tumors.

Source Fool.com