Biotech Values

[DewDiligence]

CLVS likely to file for bankruptcy:

https://www.sec.gov/ix?doc=/Archives/edgar/data/0001466301/000155837022017027/clvs-20220930x10q.htm

Based on our current cash and cash equivalents, together with current estimates for revenues to be generated by sales of Rubraca, we will not have sufficient liquidity to maintain our operations beyond January 2023. Given the recent regulatory developments that may have significant impact on current revenues and the commercial potential of Rubraca and the continuing challenges we face in raising additional capital, including as a result of the uncertain market potential of Rubraca, a potential bankruptcy filing in the very near term looks increasingly probable as a way to preserve the value of our business and assets for the benefit of our stakeholders, as further described below, though we continue to evaluate our strategic options and continue to discuss in and out of bankruptcy financing options with our creditors and other parties.

The 9/30/22 balance sheet (https://www.sec.gov/ix?doc=/Archives/edgar/data/0001466301/000155837022017027/clvs-20220930x10q.htm#CONSOLIDATEDBALANCESHEETS_102361 ) shows $230M of tangible assets and $765M of liabilities—ouch.