Clovis Oncology Unveils Offering of Common Stock

Clovis Oncology, a biopharmaceutical company focused on acquiring, developing and commercializing anti-cancer agents, said Monday that it has commenced an underwritten public offering of shares of its common stock to raise aggregate proceeds of approximately $175 million.  All shares of the common stock to be sold in the offering will be offered by Clovis Oncology.

The company said it intends to use the net proceeds of the offering for general corporate purposes, including commercial planning and sales and marketing expenses associated with the launch of Rubraca in the U.S. and, if approved by the European Medicines Agency (EMA), in Europe, funding of its development programs, general and administrative expenses, acquisition or licensing of additional product candidates or businesses and working capital.

By Caroline Williams