Clovis falls on no buyer rumor

Shares of Clovis Oncology Inc. (NASDAQ:CLVS) fell $8.53 (12%) to $64.99 on Wednesday after Bloomberg reported that the cancer biotech had been considering a sale but couldn't find a buyer. Bloomberg reported earlier this month that Clovis is working with advisors including Credit Suisse to seek a buyer for the company. Clovis said it does not comment on rumors and that the company is not the source for either of the Bloomberg articles. At June 30, Clovis had $372.2 million in cash. The company had an operating loss of $34.9 million for the six months ended June 30 and no revenues. ...