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Clovis reports 1Q loss

BOULDER, Colo. (AP) _ Clovis Oncology Inc. (CLVS) on Wednesday reported a loss of $58.5 million in its first quarter.

The Boulder, Colorado-based company said it had a loss of $1.33 per share. Losses, adjusted for stock option expense, were $1.13 per share.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of $1.43 per share.

The biopharmaceutical company posted revenue of $7 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $6 million.

Clovis shares have climbed 20 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $53.30, nearly quadrupling 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

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Keywords: Clovis Oncology, Earnings Report