Armistice Capital Pushes Clovis Oncology (CLVS) Toward Sale

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Investment firm and major stakeholder of Clovis Oncology, Armistice Capital, wants the company to be sold for greater gains to shareholders.

Armistice Capital LLC an activist investment firm has been pushing Clovis Oncology (CLVS) to sell or merger for the benefit to the shareholders.

Stocks have already risen over 11% on the news of the potential sale.

Bloomberg reports that activist investor Armistice Capital LLC has been urging Clovis Oncology (CLVS) to pursue a sale in the wake of GlaxoSmithKline’s $5.1B bid for PARP competitor TESARO (TSRO) despite the expectations that its PARP inhibitor Zejula (niraparib) is not expected to reach the $1B sales mark until 2023, hardly a surprising move by the owner of a 9.8% stake in CLVS who wants to avoid a potential loss.

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