Clovis slumps after FDA asks for more data on lung cancer drug

November 16, 2015 2:06 PM

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Clovis Oncology Inc said the U.S. Food and Drug Administration asked for additional clinical data on the effectiveness of its experimental lung cancer drug, rociletinib, which could delay its approval.

Clovis's shares slumped 69 percent in premarket trading on Monday. The company had a market value of $3.8 billion as of Friday's close.

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