Why Clovis Oncology Stock Skyrocketed Today

Shares of Clovis Oncology (NASDAQ: CLVS) soared 48% on Friday after the biopharmaceutical company announced positive findings from its phase 3 study for its ovarian cancer drug, Rubraca. 

Data from the clinical trial showed Rubraca to significantly improve progression-free survival (PFS) compared to standard-of-care chemotherapy among patients with advanced, relapsed ovarian cancer and a specific gene variant, known as a deleterious BRCA mutation.

The study enrolled 349 women in multiple countries. The median PFS for the patients treated with Rubraca was 7.4 months, compared to 5.7 months for those who received chemotherapy.

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Source Fool.com