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Clovis: 1Q Earnings Snapshot

BOULDER, Colo. (AP) _ Clovis Oncology Inc. (CLVS) on Tuesday reported a loss of $99.3 million in its first quarter.

On a per-share basis, the Boulder, Colorado-based company said it had a loss of $1.39. Losses, adjusted for non-recurring costs, came to $1.28 per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of $1.29 per share.

The biopharmaceutical company posted revenue of $42.6 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $41.8 million.

Clovis shares have fallen 26% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $7.71, a decline of 60% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CLVS at https://www.zacks.com/ap/CLVS