Clovis Oncology pays $20 million to settle charges of misleading investors

first_img GET STARTED Pharmalot Columnist, Senior Writer Ed covers the pharmaceutical industry. Alex Hogan/STAT Clovis Oncology pays $20 million to settle charges of misleading investors Clovis Oncology (CLVS), its chief executive, and a former chief financial officer will collectively pay more than $20 million to settle civil charges of misleading investors about a lung cancer drug that was being developed.During a four-month period beginning in July 2015, the drug maker and chief executive Patrick Mahaffy made various misleading statements about the effectiveness of its rociletinib drug compared with another treatment. Specifically, investor presentations, press releases, and regulatory filings boasted the drug demonstrated a 60 percent patient response rate. Tags legalpharmaceuticalsSTAT+ Unlock this article — plus daily coverage and analysis of the pharma industry — by subscribing to STAT+. First 30 days free. GET STARTED What is it? By Ed Silverman Sept. 18, 2018 Reprints About the Author Reprintscenter_img Daily reporting and analysis The most comprehensive industry coverage from a powerhouse team of reporters Subscriber-only newsletters Daily newsletters to brief you on the most important industry news of the day STAT+ Conversations Weekly opportunities to engage with our reporters and leading industry experts in live video conversations Exclusive industry events Premium access to subscriber-only networking events around the country The best reporters in the industry The most trusted and well-connected newsroom in the health care industry And much more Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr. Log In | Learn More Ed Silverman What’s included? @Pharmalot STAT+ is STAT’s premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond. [email protected] Pharmalot last_img read more