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Activist Pushing Cancer Drugmaker Clovis to Pursue Sale

US-HEALTH-PEOPLE-RESEARCH-CANCER-pharmaceutical

Photographer: Saul Loeb/AFP via Getty Images

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Armistice Capital LLC, which has an activist stake in Clovis Oncology Inc., has encouraged the cancer drugmaker to pursue a sale, according to a person familiar with the matter.

The hedge fund has been in contact with Clovis’s management about the matter, the person said. Last month, Armistice disclosed in a securities filing that it had amassed a 9.8 percent stake, making it Clovis’ second-biggest holder. At the time, it said it could push for a sale, management changes or other options.