CUSIP No. 189464100
13G
Page 2 of 9 Pages
1.
NAMES OF REPORTING PERSONS OR
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Patrick Lee, MD
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(see instructions)
(a) [ ]
(b) [ x ]
3.
SEC USE ONLY
4.
CITIZENSHIP OR PLACE OF ORGANIZATION
USA
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5.
SOLE VOTING POWER
0
6.
SHARED VOTING POWER
5,056,286
7.
SOLE DISPOSITIVE POWER
0
8.
SHARED DISPOSITIVE POWER
5,056,286
9.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,056,286
10.
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(see instructions) [ ]
11.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
9.22%
12.
TYPE OF REPORTING PERSON (see instructions)
IN, HC
CUSIP No. 189464100
13G
Page 3 of 9 Pages
1.
NAMES OF REPORTING PERSONS OR
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Anthony Joonkyoo Yun, MD
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(see instructions)
(a) [ ]
(b) [ x ]
3.
SEC USE ONLY
4.
CITIZENSHIP OR PLACE OF ORGANIZATION
USA
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5.
SOLE VOTING POWER
0
6.
SHARED VOTING POWER
5,056,286
7.
SOLE DISPOSITIVE POWER
0
8.
SHARED DISPOSITIVE POWER
5,056,286
9.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,056,286
10.
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(see instructions) [ ]
11.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
9.22%
12.
TYPE OF REPORTING PERSON (see instructions)
IN, HC
CUSIP No. 189464100
13G
Page 4 of 9 Pages
1.
NAMES OF REPORTING PERSONS OR
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Palo Alto Investors LP
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(see instructions)
(a) [ ]
(b) [ x ]
3.
SEC USE ONLY
4.
CITIZENSHIP OR PLACE OF ORGANIZATION
California
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5.
SOLE VOTING POWER
0
6.
SHARED VOTING POWER
5,056,286
7.
SOLE DISPOSITIVE POWER
0
8.
SHARED DISPOSITIVE POWER
5,056,286
9.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,056,286
10.
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(see instructions) [ ]
11.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
9.22%
12.
TYPE OF REPORTING PERSON (see instructions)
OO, IA
CUSIP No. 189464100
13G
Page 5 of 9 Pages
1.
NAMES OF REPORTING PERSONS OR
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
PAI LLC
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(see instructions)
(a) [ ]
(b) [ x ]
3.
SEC USE ONLY
4.
CITIZENSHIP OR PLACE OF ORGANIZATION
California
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5.
SOLE VOTING POWER
0
6.
SHARED VOTING POWER
5,056,286
7.
SOLE DISPOSITIVE POWER
0
8.
SHARED DISPOSITIVE POWER
5,056,286
9.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,056,286
10.
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(see instructions) [ ]
11.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
9.22%
12.
TYPE OF REPORTING PERSON (see instructions)
OO, IA
CUSIP No. 189464100
13G
Page 6 of 9 Pages
Item 1.
(a)
Name of Issuer
Clovis Oncology Inc.
(b)
Address of Issues Principal Executive Offices
5500 Flatiron Parkway, Boulder, CO 80301
Item 2.
(a)
Name of Person Filing
Palo Alto Investors LP (PAI)
PAI LLC (PAI GP)
Patrick Lee, MD
Anthony Joonkyoo Yun, MD
(collectively, the "Filers").
(b)
The address of the principal place of the Filers is located at:
470 University Avenue, Palo Alto, CA 94301
(c)
For citizenship of Filers, see Item 4 of the cover sheet for each Filer.
(d)
Title of Class of Securities
Common Stock
(e)
CUSIP Number
189464100
Item 3. If this statement is filed pursuant to
240.13d-1(b) or 240.13d-2(b) or (c), check
whether the person filing is a:
(a)
[ ]
Broker or dealer registered under section 15 of
the Act (15 U.S.C. 78o).
(b)
[ ]
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
(c)
[ ]
Insurance company as defined in section
3(a)(19) of the Act (15 U.S.C. 78c).
(d)
[ ]
Investment company registered under section 8
of the Investment Company Act of 1940 (15 U.S.C. 80a-8).
(e)
[x]
An investment adviser in accordance with
240.13d-1(b)(1)(ii)(E); (as to PAI)
(f)
[ ]
An employee benefit plan or endowment fund in
accordance with 240.13d-1(b)(1)(ii)(F);
(g)
[x]
A parent holding company or control person in
accordance with 240.13d-1(b)(1)(ii)(G);
(as to Dr. Lee and Dr. Yun)
CUSIP No. 189464100
13G
Page 7 of 9 Pages
(h)
[ ]
A savings associations as defined in Section
3(b) of the Federal Deposit Insurance Act
(12 U.S.C. 1813);
(i)
[ ]
A church plan that is excluded from the
definition of an investment company under
section 3(c)(14) of the Investment Company
Act of 1940 (15 U.S.C. 80a-3);
(j)
[ ]
Group, in accordance with 240.13d-1(b)(1)(ii)(J).
Item 4. Ownership.
See Items 5-9 and 11 of the cover page for each Filer.
Item 5. Ownership of Five Percent or Less of a Class.
N/A
Item 6. Ownership of More than Five Percent on Behalf
of Another Person.
PAI is a registered investment adviser and investment
adviser of investment limited partnerships, and is
the investment adviser to other investment funds.
PAI GP is the general partner of investment limited
partnerships. PAIs clients have the right to receive or
the power to direct the receipt of dividends from, or the
proceeds from the sale of, the Stock.
Item 7. Identification and Classification of the Subsidiary
Which Acquired the Security Being Reported on By
the Parent Holding Company.
N/A
Item 8. Identification and Classification of Members of the Group.
Dr. Lee and Dr. Yun co-manage PAI. The Filers are filing this
Schedule 13G jointly, but not as members of a group,
and each of them expressly disclaims membership in a
group. Each Filer disclaims beneficial ownership of the
Stock except to the extent of that Filers pecuniary
interest therein.
Item 9. Notice of Dissolution of Group.
N/A
CUSIP No. 189464100
13G
Page 8 of 9 Pages
Item 10. Certification.
By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were not
acquired and are not held for the purpose of or with the
effect of changing or influencing the control of the
issuer of the securities and were not acquired and are
not held in connection with or as a participant in any
transaction having that purpose or effect.
Exhibits.
Exhibit A Joint Filing Agreement.
SIGNATURE
After reasonable inquiry and to the best of my knowledge
and belief, I certify that the information set forth
in this statement is true, complete and correct.
Dated: February 14, 2020
PALO ALTO INVESTORS LP
By: /s/ Angela Nguyen-Dinh, Chief Compliance Officer
PAI LLC
By: /s/ Patrick Lee, MD
/s/ Patrick Lee, MD
/s/ Anthony Joonkyoo Yun, MD
CUSIP No. 189464100
13G
Page 9 of 9 Pages
EXHIBIT A
AGREEMENT REGARDING JOINT FILING
OF STATEMENT ON SCHEDULE 13D OR 13G
The undersigned agree to file jointly with the Securities
and Exchange Commission (the "SEC") any and all statements
on Schedule 13D or Schedule 13G (and any amendments or
supplements thereto) required under section 13(d) of the
Securities Exchange Act of 1934, as amended, in connection
with purchases and sales by the undersigned of the
securities of any issuer until such time as the undersigned
file with the SEC a statement terminating this Agreement
Regarding Joint Filing of Statement on Schedule 13D or
13G. For that purpose, the undersigned hereby constitute
and appoint Palo Alto Investors, LP, a California limited
partnership, as their true and lawful agent and attorney-in-fact,
with full power and authority for and on behalf of the undersigned
to prepare or cause to be prepared, sign, file with the SEC and
furnish to any other person all certificates, instruments,
agreements and documents necessary to comply with section 13(d)
and section 16(a) of the Securities Exchange Act of 1934, as
amended, in connection with said purchases and sales, and to
do and perform every act necessary and proper to be doneincident
to the exercise of the foregoing power, as fully as the undersigned
might or could do if personally present, until such time as the
undersigned file with the SEC a statement terminating this Agreement
Regarding Joint Filing of Statement on Schedule 13D or 13G.
Dated: February 14, 2020
PALO ALTO INVESTORS LP
By: /s/ Angela Nguyen-Dinh, Chief Compliance Officer
PAI LLC
By: /s/ Patrick Lee, MD
/s/ Patrick Lee, MD
/s/ Anthony Joonkyoo Yun, MD
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