BOULDER - Some Clovis Oncology Inc. stockholders will sell 2 million shares worth about $127 million.

Stockholders received $190 million in stock shares in connection with Boulder-based Clovis' purchase of the Italian biopharmaceutical company EOS S.p.A., which was announced on Wednesday, Nov. 20. In addition, Clovis (Nasdaq: CLVS) paid $10 million in cash to buy EOS, which is developing a drug to treat cancer.

A negotiated per-share price is expected to be set on Tuesday, Dec. 3, for the latest stock sale, said Breanna Burkart, a Clovis spokeswoman. The value of that stock would be $127 million, based on Monday's highest trading price of $63.47 per share.

The selling stockholders will receive all proceeds from the sale. Clovis is not expected to be affected by the stock sale, Burkart said.

J.P. Morgan Securities LLC is managing the sale. The selling stockholders plan to grant J.P. Morgan a 30-day option to purchase up to an additional 15 percent of the number of shares sold, according to a press statement.

Clovis plans to pay an additional $65 million to EOS once its cancer-treatment drug candidate - named lucitanib - is approved by the U.S. Food and Drug Administration, according to a press statement from Nov. 20. The FDA must approve all drugs sold in the United States, a process of research and clinical trials that can take 10 years.

In clinical studies, lucitanib performed well in some breast cancer studies done on human patients.

In 2012, EOS partnered with French pharmaceutical company Les Laboratories Servier in an agreement that gave the French company the rights to sell lucitanib in Europe and other markets. With Clovis' purchase of EOS, Clovis will collaborate with Servier to develop lucitanib, with Servier responsible for the first 80 million euros of development costs (about $108 million).

With the purchase, Clovis will hold exclusive rights for lucitanib in the United States and Japan. Clovis can receive an additional 350 million euros (about $470 million) through its license agreement with Servier, once certain drug-development and sales milestones are met.

Clovis reported a net loss of $20.3 million for the most recent quarter in its latest earnings report, as the company continued to spend heavily on drug-development programs. The net loss for the quarter ended Sept. 30 was a 10.5 percent increase from the $18.3 million net loss reported for the same quarter a year earlier.