Biopharmaceutical company Clovis Oncology Inc (NASDAQ:CLVS) on Monday announced estimated Rubraca global product revenues in the range of USD43.0m - USD43.5m for the fourth quarter of 2020.

This marks a rise in revenues when compared with USD38.8m for the third quarter of 2020 and USD39.3m for the fourth quarter of 2019.

The company reported US product revenues of approximately USD36.3m - USD36.7m. The EU revenues of USD6.5m - USD6.8m represent the highest quarterly global and EU product revenues to date.

Rubraca product revenues of USD164.2m -USD164.7m is expected in FY 2020 over USD143.0m for FY 2019.

According to the company, Rubraca is an oral, small molecule inhibitor of PARP1, PARP2 and PARP3 being developed for multiple tumor types, including ovarian and prostate cancers, as monotherapy and in combination with other anti-cancer agents.

As of 31 December 2020, the USD240m in cash and cash equivalents is expected to fund the company's operating plan into early 2023 based on current revenue and expense forecasts. It plans to discuss the results with investors at the 39th Annual JP Morgan Healthcare Conference being held virtually from 10-14 January 2021 as well as plans to report its financial results on 23 February 2021.