Release

Today’s Research Reports on Stocks to Watch: Clovis Oncology and Loxo Oncology

Clovis Oncology saw its shares close down over 10% on Monday after announcing that it has commenced two separate underwritten public offerings. Shares of Loxo Oncology on the other hand were soaring after an upgrade and price target increase from Morgan Stanley.

RDI Initiates Coverage on:

Clovis Oncology, Inc.
https://rdinvesting.com/news/?ticker=CLVS

Loxo Oncology, Inc.
https://rdinvesting.com/news/?ticker=LOXO

Clovis Oncology, Inc. shares closed down 10.27% on nearly 2.7 million shares traded on Monday. The company announced yesterday that it has began two separate underwritten public offerings of convertible senior notes and common stock. The company intends to offer $200 million aggregate principal amount of its convertible senior notes due 2025 in an underwritten registered public offering, which is subject to market and other conditions. The company also intends to offer concurrently, subject to market and other conditions, $100 million of shares of its common stock in an underwritten registered public offering. Clovis has said it plans to use the combined net proceeds of the offerings for general corporate purposes. This includes sales and marketing expenses associated with Rubraca® in the U.S. Rubraca is a PARP inhibitor used as an anti-cancer agent. If Rubraca is approved by the European Commission, in Europe, the proceeds will also go towards funding development programs, general and administrative expenses, acquisition or licensing of additional product candidates or businesses and working capital.

Access RDI’s Clovis Oncology, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=CLVS

Loxo Oncology, Inc. shares closed up 8.50% yesterday on trading volume roughly double compared to usual. The stock soared to a new high of $136.52 after an analyst with Morgan Stanley upgraded the stock and increased his price target. Morgan Stanley analyst Matthew Harrison upgraded shares of Loxo from "equal weight" to "overweight" and raised the firm’s price target from $130 to $170. The initial data presented by rival Blueprint Medicines Corp’s on its RET inhibitor BLU-667 at the American Association for Cancer Research on Sunday was at the lower end of the expectations. Morgan Stanley believes that Loxo has an opportunity to differentiate itself among RET inhibitors while developing medicines for patients with genetically defined cancers. According to Morgan Stanley, the company’s LOXO-292 demonstrates differentiation on both efficacy and safety versus BLU-667 when updated data are presented at the American Society of Clinical Oncology in June. "We see the most opportunity on a better [adverse event] profile, where we believe LOXO-292 may not have the Gr3 hypertension and neutropenia that, while at limited rates, was noted with BLU667." LOXO-292 is a potent, oral and selective investigational new drug in clinical development for the treatment of patients with cancers that harbor abnormalities in the rearranged during transfection (RET) kinase.

Access RDI’s Loxo Oncology, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=LOXO

Our Actionable Research on Clovis Oncology, Inc. (NASDAQ: CLVS) and Loxo Oncology, Inc. (NASDAQ: LOXO) can be downloaded free of charge at Research Driven Investing.

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