Long Position on CLVS @ $55.50 on 6/2/2017 (Momentum)

Clovis Oncology, Inc. (CLVS) is a biopharmaceutical company focused on acquiring, developing and commercializing anti-cancer agents in the United States, Europe and other international markets.

The Company's product candidates include Rociletinib, Rubraca (Rucaparib) and Lucitanib. Rucaparib is an oral, small molecule poly adenosine diphosphate (ADP)-ribose polymerase (PARP) inhibitor of PARP1, PARP2 and PARP3 approved as a monotherapy for the treatment of patients with deleterious breast cancer (BRCA) (human genes associated with the repair of damaged deoxyribonucleic acid (DNA)) mutation (germline and/or somatic) associated advanced ovarian cancer.

Lucitanib is an oral inhibitor of the tyrosine kinase activity of vascular endothelial growth factor receptors (VEGFR) 1-3, platelet-derived growth factor receptors (PDGFR) alpha and beta and fibroblast growth factor receptors (FGFR) 1-3.

Rociletinib is an oral mutant-selective inhibitor of epidermal growth factor receptor (EGFR). The company annoucned that abstracts highlighting progress in the rucaparib clinical development program, its treatment for ovarian cancer, will be presented at the 2017 American Society of Clinical Oncology Annual Meeting taking place June 2 to June 6 in Chicago. In December 2016, the FDA approved rucaparib tablets as monotherapy for women with advanced ovarian cancer who have been treated with two or more chemotherapies and whose tumors have a deleterious BRCA mutation as identified by an FDA-approved companion diagnostic test. Ahead of the meeting, shares have formed a bullish "cup and handle" and higher share prices are expected for this stock.

52-Weeks Tradiing Range: $11.57 - $74.94

Entry Point: $55.50

Stop Loss: $52.70

Target Price: $61.05

Updates

6/12/2017 9:43:18 AM

CLVS closed at $60.00

Position closed on 6/12/2017 at price of $60.00 with a 8.11% gain in 10 days.

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