Positive Prostate Cancer Results for Lynparza Are Bad News for Clovis Oncology

Investment bank SVB Leerink on Monday downgraded Clovis Oncology (NASDAQ:CLVS) after poring over the latest clinical trial results reported by the biotech's competition. On Friday, AstraZeneca (NYSE:AZN) and Merck (NYSE:MRK) reported positive results from a study of Lynparza involving that same type of prostate cancer patients Clovis would like to treat with a similar drug, Rubraca.