Published on 12 Dec 2022 on Zacks via Yahoo Finance
Clovis (CLVS) Files for Bankruptcy Amid Lack of Financial Aid
Clovis Oncology, Inc. CLVS announced that the company and some of its subsidiaries initiated voluntary prearranged Chapter 11 proceedings in the U.S. Bankruptcy Court for the Southern District of Delaware (“Court”).
In the Court filing. Clovis has estimated its assets to be $100-$500 million, with liabilities between $500 million and $1 billion.
Last month, management had warned investors that a bankruptcy filing was plausible as recent regulatory developments impacted current revenues and the commercial potential of its sole-marketed drug Rubraca.