SEC considers civil charges against Clovis Oncology over trial data for discarded drug

For investors in Clovis Oncology (CLVS), this may be a case of “Better late, than never.”

Two years after an R&D expert publicly questioned the veracity of clinical trial data released by the drug maker, Clovis executives disclosed that the Securities and Exchange Commission may pursue a civil enforcement action or administrative proceeding against the company.

The focus of the inquiry is a press release that Clovis issued in November 2015 to update investors with news about a lung cancer drug that was being reviewed by the Food and Drug Administration. And the release noted the FDA wanted additional data to review and yet another surprise: The confirmed patient response rates in clinical trials were considerably lower than had been expected.

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