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CLOVIS ONCOLOGY NEWS RELEASE Clovis Oncology Announces First Quarter 2021 Operating Results 5/5/2021 $ 38.1M in Rubraca® ( rucaparib ) global net product revenues for Q1 2021 , down 11 % vs. Q1 2020 , due to continued headwinds from COVID - 19 in the US and Europe Maintained US market share as US PARP inhibitor market impacted by COVID - 19 Imaging and treatment INDs cleared by FDA for FAP - 2286 , a novel peptide - targeted radionuclide therapy ( PTRT ) • Phase 1/2 LUMIERE study of FAP - 2286 expected to open for enrollment this quarter • Top - line data from Phase 3 ATHENA trial of Rubraca as first - line maintenance treatment for ovarian cancer monotherapy anticipated 2H 2021 • $ 190.9M in cash and cash equivalents and $ 61.4M in available funding under the ATHENA financing at March 31 , 2021 , anticipated to fund the Company's operating plan into early 2023 based on current revenue and expense forecasts • $ 28.1M reduction in R & D and SG & A expense and 25 % reduction in net cash used in operating activities compared to Q1 2020 BOULDER , Colo .-- ( BUSINESS WIRE ) -- Clovis Oncology , Inc. ( NASDAQ : CLVS ) reported financial results for the quarter ended March 31 , 2021 , and provided an update on the Company's clinical development programs and regulatory and commercial outlook for the rest of the year . " The second quarter of 2021 marks an important moment in our commitment to targeted radionuclide therapies , as the FDA clearance of our INDs for FAP - 2286 enables us to initiate the Phase 1 portion of the LUMIERE study this quarter as planned . We are increasingly enthusiastic about FAP - 2286 and its potential to treat patients with solid tumors , and about targeted radiotherapeutics as a class , " said Patrick J. Mahaffy , President and CEO of Clovis Oncology . " While continuing headwinds from COVID - 19 impacted Rubraca sales this quarter , we believe this effect will lessen over the course of this year . Importantly , since each approved PARP inhibitor faced some impact from COVID - 19 in the US market in Q1 2021 compared to Q4 2020 , we believe we maintained market share in the US . 1