What happened Shares of the cancer drugmaker Clovis Oncology (NASDAQ: CLVS) are under pressure yet again today. As of 12:47 p.m. ET on Monday, the company's stock price was down by a noteworthy 12.8% on relatively modest volume. After this latest dip, Clovis' stock is down by over 46% for the year. What's weighing on Clovis' stock today? The biotech released its 2022 second-quarter earnings report ahead of the opening bell Monday morning, and its latest financial results aren't a hit with shareholders. So what Investors appear to be hitting the exits today over three areas of concern: Clovis' flagship drug Rubraca pulled in a meager $32.1 million for the quarter, which represents a 13% drop in year-over-year sales. The company blamed COVID-19 and competing drugs for this double-digit sales decline. Clovis posted an eye-popping $71.3 million net loss for the quarter. With $94.6 million in cash and cash equivalents as of June 30, the biotech is facing a serious cash crunch. Speaking to this point, management noted in today's earnings release that it is seeking ways to raise additional capital, which could include licensing out its lead clinical asset FAP-2286. Now what Is Clovis' stock worth buying on this latest pullback? While the company ought to be able to land a fairly decent licensing agreement for FAP-2286, a licensing deal probably won't be enough to solve its long-term financing needs. Rubraca's sales have to pick up soon. And until the company solves this all-important issue, its stock simply isn't worth the risk. 10 stocks we like better than Clovis OncologyWhen our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and Clovis Oncology wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of July 27, 2022 George Budwell has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source