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Clovis 'data looks promising,' says Piper Jaffray
Piper Jaffray analyst Steven Breazzano says that the 54% response rate of Clovis' rucaparib for ovarian cancer with a nine month duration of response "on the surface compares favorably" to Lynparza, although he says that the data obtained on the two drugs may not be comparable. The analyst adds that Clovis' drug "is still not directly comparable" to other drugs being developed. He says that he will wait for additional data on rucaparib which he says will shed more light on its profile. The analyst thinks that Clovis' data "looks promising," but he keeps a $14 price target and Neutral rating on the stock