Clovis Oncology To Launch $250 Mln Stock Offering

Clovis Oncology Inc. said on Monday it plans to launch a $250 million stock offering. The announcement follows a 46.5% surge in Clovis Oncology shares after the company released positive late-stage trial results for cancer drug Rubraca. The stock offering proceeds will be used for various general purposes, including sales and marketing for Rubraca. Clovis Oncology itself will be offering all shares of the common stock. Company shares have surged 23.2% over the last three months, compared with a 3.2% rise in the S&P 500 .