LCI Vaults On Bright Outlook, OSUR Gets Zika Contract, CLVS To Face FDA In Feb.

(RTTNews) - Clovis Oncology Inc.'s (CLVS) New Drug Application for Rucaparib has been accepted for priority review by the FDA - with a decision date set for February 23, 2017.

The company is seeking approval of Rucaparib for the treatment of advanced ovarian cancer in patients with deleterious BRCA-mutated tumors inclusive of both germline and somatic BRCA mutations, and who have been treated with two or more chemotherapies.

CLVS closed Tuesday's trading 27.24% higher at $23.03.

Shares of Lannett Co. Inc. (LCI) were up more than 14% in extended trading on Tuesday, following better-than expected Q4 results and bright outlook for fiscal 2017.

For the fourth quarter ended June 30, 2016, adjusted net income attributable to Lannett was $27.5 million or $0.73 per share on adjusted total net sales of $168.9 million. This compared with adjusted net income of $35.2 million or $0.94 per diluted share and sales of $99.3 million for the fiscal 2015 fourth quarter. Analysts polled by Thomson Reuters were expecting the company to earn $0.59 per share on sales of $161.55 million.

Looking ahead for the 2017 fiscal year, the company expects adjusted net sales to range between $690 million and $700 million, well above consensus forecast of $666.03 million.

LCI closed Tuesday's trading at $32.32, up 2.83%. In after hours, the stock gained another 14.54% to $37.02.

OraSure Technologies Inc. (OSUR) has been awarded a six-year, multi-phased contract for up to $16.6 million by the Department of Health and Human Services to advance the company's rapid Zika tests.

The contract includes an initial commitment of $7.0 million and options for up to an additional $9.6 million to fund the evaluation of additional product enhancements, and clinical and regulatory activities. The company is expected to provide an update on guidance and timing during its next quarterly earnings call in November.

The Obama administration has redirected nearly $600 million in federal funds to combat the Zika virus. A proposal to provide $1.1 billion to fund the Zika virus research was blocked by Senate Democrats, blaming the inclusion of "poison pills" related to Planned Parenthood and environmental regulations.

OSUR closed Tuesday's trading at $7.00, up 0.14%.