EX-99.3

In re: Clovis Oncology, Inc.

Lead Case No:

22-11292 (JKS)

Schedule of Cash Receipts and Disbursements

Reporting Period:

March 01 - March 31, 2023

Exhibit 99.3

UNITED STATES BANKRUPTCY COURT

DISTRICT OF Delaware


In Re. Clovis Oncology UK Limited		§	Case No. 22-11293
		§
		§	Lead Case No. 22-11292
	Debtor(s)	§
			☒ Jointly Administered


Monthly Operating Report				Chapter 11

Reporting Period Ended: 03/31/2023				Petition Date: 12/11/2022

Months Pending: 4				Industry Classification: 3 2 5 4


Reporting Method:	Accrual Basis ☒	Cash Basis ☐

Debtor’s Full-Time Employees (current):		10

Debtor’s Full-Time Employees (as of date of order for relief):		49

Supporting Documentation (check all that are attached):

(For jointly administered debtors, any required schedules must be provided on a non-consolidated basis for each debtor)

☒	Statement of cash receipts and disbursements

☒	Balance sheet containing the summary and detail of the assets, liabilities and equity (net worth) or deficit

☒	Statement of operations (profit or loss statement)

☒	Accounts receivable aging

☒	Postpetition liabilities aging

☒	Statement of capital assets

☐	Schedule of payments to professionals

☒	Schedule of payments to insiders

☒	All bank statements and bank reconciliations for the reporting period

☐	Description of the assets sold or transferred and the terms of the sale or transfer


/s/ Andrew S. Mordkoff				Andrew S. Mordkoff
Signature of Responsible Party				Printed Name of Responsible Party

05/02/2023
Date				787 Seventh Avenue, New York, New York 10019-6099
				Address

STATEMENT: This Periodic Report is associated with an open bankruptcy case; therefore, Paperwork Reduction Act exemption 5 C.F.R. § 1320.4(a)(2) applies.


AlixPartners General
UST Form 11-MOR (12/01/2021)		1


Debtor’s Name Clovis Oncology UK Limited		Case No. 22-11293


Part 1: Cash Receipts and Disbursements		Current Month		Cumulative
a.	Cash balance beginning of month	$	9,605,499

b.	Total receipts (net of transfers between accounts)	$	203,998	$	5,738,018

c.	Total disbursements (net of transfers between accounts)	$	689,916	$	4,899,741

d.	Cash balance end of month (a+b-c)	$	9,119,581

e.	Disbursements made by third party for the benefit of the estate	$	0	$	0

f.	Total disbursements for quarterly fee calculation (c+e)	$	689,916	$	4,899,741


Part 2: Asset and Liability Status (Not generally applicable to Individual Debtors. See Instructions.)		Current Month
a.	Accounts receivable (total net of allowance)	$	9,811,246

b.	Accounts receivable over 90 days outstanding (net of allowance)	$	0

c.	Inventory ( Book ☒ Market ☐ Other ☐ (attach explanation))	$	0

d	Total current assets	$	21,947,534

e.	Total assets	$	22,242,022

f.	Postpetition payables (excluding taxes)	$	9,822,433

g.	Postpetition payables past due (excluding taxes)	$	99,168

h.	Postpetition taxes payable	$	2,477,017

i.	Postpetition taxes past due	$	0

j.	Total postpetition debt (f+h)	$	12,299,450

k.	Prepetition secured debt	$	0

l.	Prepetition priority debt	$	0

m.	Prepetition unsecured debt	$	10,419,901

n.	Total liabilities (debt) (j+k+l+m)	$	22,719,351

o.	Ending equity/net worth (e-n)	$	-477,329


Part 3: Assets Sold or Transferred		Current Month		Cumulative
a.	Total cash sales price for assets sold/transferred outside the ordinary course of business	$	0	$	0

b.	Total payments to third parties incident to assets being sold/transferred outside the ordinary course of business	$	0	$	0

c.	Net cash proceeds from assets sold/transferred outside the ordinary course of business (a-b)	$	0	$	0


Part 4: Income Statement (Statement of Operations) (Not generally applicable to Individual Debtors. See Instructions.)		Current Month		Cumulative
a.	Gross income/sales (net of returns and allowances)	$	754,165

b.	Cost of goods sold (inclusive of depreciation, if applicable)	$	728,245

c.	Gross profit (a-b)	$	25,920

d.	Selling expenses	$	32,748

e.	General and administrative expenses	$	647,524

f.	Other expenses	$	51,548

g.	Depreciation and/or amortization (not included in 4b)	$	0

h.	Interest	$	0

i.	Taxes (local, state, and federal)	$	0

j.	Reorganization items	$	0

k.	Profit (loss)	$	-705,901	$	-4,381,186


AlixPartners General
UST Form 11-MOR (12/01/2021)		2


Debtor’s Name Clovis Oncology UK Limited		Case No. 22-11293

Part 5: Professional Fees and Expenses

Approved
Current Month

Approved
Cumulative

Paid Current
Month

Paid
Cumulative

Debtor’s professional fees & expenses (bankruptcy) Aggregate Total

Itemized Breakdown by Firm

Firm Name

Role

iii

vii

viii

xii

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AlixPartners General
UST Form 11-MOR (12/01/2021)		3


Debtor’s Name Clovis Oncology UK Limited		Case No. 22-11293

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AlixPartners General
UST Form 11-MOR (12/01/2021)		4


Debtor’s Name Clovis Oncology UK Limited		Case No. 22-11293

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Approved
Current Month

Approved
Cumulative

Paid Current
Month

Paid

Cumulative

Debtor’s professional fees & expenses (nonbankruptcy) Aggregate Total

Itemized Breakdown by Firm

Firm Name

Role

iii

vii

viii

xii

xiii

xiv


AlixPartners General
UST Form 11-MOR (12/01/2021)		5


Debtor’s Name Clovis Oncology UK Limited		Case No. 22-11293

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AlixPartners General
UST Form 11-MOR (12/01/2021)		6


Debtor’s Name Clovis Oncology UK Limited		Case No. 22-11293

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All professional fees and expenses (debtor & committees)


AlixPartners General
UST Form 11-MOR (12/01/2021)		7


Debtor’s Name Clovis Oncology UK Limited		Case No. 22-11293


Part 6: Postpetition Taxes	Current Month		Cumulative
a. Postpetition income taxes accrued (local, state, and federal)	$	0	$	0

b. Postpetition income taxes paid (local, state, and federal)	$	0	$	0

c. Postpetition employer payroll taxes accrued	$	0	$	0

d. Postpetition employer payroll taxes paid	$	0	$	0

e. Postpetition property taxes paid	$	0	$	0

f. Postpetition other taxes accrued (local, state, and federal)	$	0	$	0

g. Postpetition other taxes paid (local, state, and federal)	$	0	$	0

Part 7: Questionnaire - During this reporting period:

a. Were any payments made on prepetition debt? (if yes, see Instructions)

Yes

☒

☐

b. Were any payments made outside the ordinary course of business without court approval? (if yes, see Instructions)

Yes

☐

☒

c. Were any payments made to or on behalf of insiders?

Yes

☒

☐

d. Are you current on postpetition tax return filings?

Yes

☒

☐

e. Are you current on postpetition estimated tax payments?

Yes

☒

☐

f. Were all trust fund taxes remitted on a current basis?

Yes

☒

☐

g. Was there any postpetition borrowing, other than trade credit? (if yes, see Instructions)

Yes

☐

☒

h. Were all payments made to or on behalf of professionals approved by the court?

Yes

☒

☐

N/A

☐

i. Do you have: Worker’s compensation insurance?

Yes

☒

☐

If yes, are your premiums current?

Yes

☒

☐

N/A

☐

(if no, see Instructions

)

Casualty/property insurance?

Yes

☒

☐

If yes, are your premiums current?

Yes

☒

☐

N/A

☐

(if no, see Instructions

)

General liability insurance?

Yes

☒

☐

If yes, are your premiums current?

Yes

☒

☐

N/A

☐

(if no, see Instructions

)

j. Has a plan of reorganization been filed with the court?

Yes

☐

☒

k. Has a disclosure statement been filed with the court?

Yes

☐

☒

l. Are you current with quarterly U.S. Trustee fees as set forth under 28 U.S.C. § 1930?

Yes

☒

☐


AlixPartners General
UST Form 11-MOR (12/01/2021)		8


Debtor’s Name Clovis Oncology UK Limited		Case No. 22-11293


Part 8: Individual Chapter 11 Debtors (Only)
a. Gross income (receipts) from salary and wages	$	0

b. Gross income (receipts) from self-employment	$	0

c. Gross income from all other sources	$	0

d. Total income in the reporting period (a+b+c)	$	0

e. Payroll deductions	$	0

f. Self-employment related expenses	$	0

g. Living expenses	$	0

h. All other expenses	$	0

i. Total expenses in the reporting period (e+f+g+h)	$	0

j. Difference between total income and total expenses (d-i)	$	0

k. List the total amount of all postpetition debts that are past due	$	0

l. Are you required to pay any Domestic Support Obligations as defined by 11 U.S.C § 101(14A)?

Yes

☐

☒

m. If yes, have you made all Domestic Support Obligation payments?

Yes

☐

N/A

☒

Privacy Act Statement

28 U.S.C. § 589b authorizes the collection of this information, and provision of this information is mandatory under 11 U.S.C. §§ 704, 1106, and 1107. The United States Trustee will use this information to calculate statutory fee assessments under 28 U.S.C. § 1930(a)(6). The United States Trustee will also use this information to evaluate a chapter 11 debtor’s progress through the bankruptcy system, including the likelihood of a plan of reorganization being confirmed and whether the case is being prosecuted in good faith. This information may be disclosed to a bankruptcy trustee or examiner when the information is needed to perform the trustee’s or examiner’s duties or to the appropriate federal, state, local, regulatory, tribal, or foreign law enforcement agency when the information indicates a violation or potential violation of law. Other disclosures may be made for routine purposes. For a discussion of the types of routine disclosures that may be made, you may consult the Executive Office for United States Trustee’s systems of records notice, UST-001, “Bankruptcy Case Files and Associated Records.” See 71 Fed. Reg. 59,818 et seq. (Oct. 11, 2006). A copy of the notice may be obtained at the following link: http:// www.justice.gov/ust/eo/rules_regulations/index.htm. Failure to provide this information could result in the dismissal or conversion of your bankruptcy case or other action by the United States Trustee. 11 U.S.C. § 1112(b)(4)(F).

I declare under penalty of perjury that the foregoing Monthly Operating Report and its supporting documentation are true and correct and that I have been authorized to sign this report on behalf of the estate.


/s/ Daniel W. Muehl				Daniel W. Muehl
Signature of Responsible Party				Printed Name of Responsible Party

Executive Vice President and Chief Financial Officer				05/02/2023
Title				Date


AlixPartners General
UST Form 11-MOR (12/01/2021)		9


Debtor’s Name Clovis Oncology UK Limited		Case No. 22-11293

LOGO

Page One Part One Page One Part Two Page Two Part One Page Two Part Two


AlixPartners General
UST Form 11-MOR (12/01/2021)		10


Debtor’s Name Clovis Oncology UK Limited		Case No. 22-11293

LOGO

Bankruptcy 1 to 50 Bankruptcy 51 to 100 NonBankruptcy 1 to 50 NonBankruptcy 51 to 100


AlixPartners General
UST Form 11-MOR (12/01/2021)		11


Debtor’s Name Clovis Oncology UK Limited		Case No. 22-11293

LOGO

PageThree


AlixPartners General
UST Form 11-MOR (12/01/2021)		12


Debtor	Third-Party Cash Disbursements
Clovis Oncology, Inc.	$	10,001,632
Clovis Oncology UK Limited	$	689,916
Clovis Oncology Ireland Limited	$	26,411

Total	$	10,717,959


Debtor	Third-Party Cash Receipts
Clovis Oncology, Inc.	$	6,834,740
Clovis Oncology UK Limited	$	—
Clovis Oncology Ireland Limited	$	2,279

Total	$	6,837,019

AlixPartners General

Debtor

Bank

Last 4 Digits

Description

Balance as of Month End (USD)

Clovis Oncology, Inc.

JP Morgan

9101

Lockbox Account

1,969,519

Clovis Oncology, Inc.

JP Morgan

8623

Operating Account

32,487,964

Clovis Oncology, Inc.

JP Morgan

9601

Operating Account

Clovis Oncology, Inc.

JP Morgan

9602

Operating Account

2,165

Clovis Oncology, Inc.

JP Morgan

3424

Operating Account

541

Clovis Oncology, Inc.

JP Morgan

8157

Investment Account

6,746,118

Clovis Oncology, Inc.

JP Morgan

2038

Investment Account

100,000

Clovis Oncology, Inc.

JP Morgan

1915

Professional Fees Account

14,797,948

Clovis Oncology, Inc.

JP Morgan

7602

Utilitiy Deposits Account

10,800

Clovis Oncology UK Limited

JP Morgan

4225

Lockbox Account

1,246,095

Clovis Oncology UK Limited

JP Morgan

2330

Operating Account

7,873,486

Clovis Oncology Ireland Limited

JP Morgan

0565

Lockbox Account

3,121,565

Clovis Oncology Ireland Limited

JP Morgan

1185

Operating Account

441,080

Sub Total - Bank Accounts

68,797,368

Total

68,797,368

AlixPartners General


*USD Actuals*	Clovis Oncology, Inc.			Clovis Oncology UK Limited			Clovis Oncology Ireland Limited
Assets
Current Assets:
Cash and Cash Equivalents		56,115,142			9,119,581			3,562,645
Trade Accounts Receivable, Net		10,474,649			9,811,246			7,022
Interco Receivables		22,207,940			337			11,757,151
Pre-Petition - Inter Company Debtor Receivables
Inventories		95,391,684			—			9,259,425
Prepayments and Deposits		14,270,245			136,440			36,006
Other Assets - Current		(276	)		2,650,787			16,963
IC Investment in Subsidiaries		2			229,143			—

Total Current Assets		198,459,386			21,947,534			24,639,213

Non-Current Assets:
Property, Plant and Equipment, Net		144,077			121,035			—
Goodwill		63,074,218			—			—
Other Intangible Assets, Net		53,657,483			—			—
Other Assets - Non-current		10,896,400			173,453			30,072

Total Non-Current Assets		127,772,178			294,488			30,072

Total Assets		326,231,564			22,242,022			24,669,285

Liabilities
Current Liabilities:
DIP Financing		45,000,000			—			—
Trade Accounts Payable, Net		12,444,863			6,704,074			66,816
Interco Payables		(443,365	)		3,459,580			18,495,728
Misc. Liabilities & Accrued Expenses		25,857,193			(492,886	)		119,519
Accrued Taxes (Income, Payroll, etc.)		(17,978	)		2,477,017			281,548
Lease Liability - Short-term		63,480			151,665			17,579
Other Notes Payable - Current		—			—			—

Total Current Liabilities		82,904,193			12,299,450			18,981,190

Non-Current Liabilities
Lease Liability - Long-term		—			—			10,251

Total Non-Current Liabilities		—			—			10,251

Liabilities Subject to Compromise		843,408,900			10,419,901			88,508

Total Liabilities		926,313,093			22,719,351			19,079,948

Equity
Common Stock		145,469			2			141
Additional Paid in Capital		2,691,516,958			—			—
Accumulated Other Comprehensive Loss		(41,905,090	)		(451,515	)		150,265
Accumulated Deficit		(3,249,838,866	)		(25,815	)		5,438,931

Total Equity		(600,081,529	)		(477,329	)		5,589,337

Total Liabilities and Equity		326,231,564			22,242,022			24,669,285

Notes:

1)	The financial statements and supplemental information contained herein are limited in scope and cover a limited time period. Moreover, such information is preliminary, unaudited, and subject to change.

AlixPartners General


*USD Actuals*	Clovis Oncology, Inc.			Clovis Oncology UK Limited			Clovis Oncology Ireland Limited
Total Revenue		8,189,371			754,165			2,115,078

Operating Expenses:
Cost of Goods Sold		820,877			728,245			1,207,545
Royalty Expense		1,604,489			—			—
Research and Development		1,883,430			—			—
General and Administrative		6,352,933			647,524			69,091
Selling Expenses		21,049			32,748			—
Operating Taxes		38,731			—			—
Other Operating Expenses		—			—			—

Total Operating Expenses		10,721,508			1,408,518			1,276,635

Total Operating Profit (Loss)		(2,532,137	)		(654,353	)		838,443

Other Income and Expenses:
Interest Income		24,231			—			—
Gain/Loss from Sale of Assets		—			—			—
Interest Expense		—			—			—
Foreign Currency Translation Adjustments		(162,887	)		51,548			(195,833	)
Gain/Loss on Available-For-Sale Securities		—			—			—
Reorganization Costs		9,265,001			—			—
Income Tax Expense		1,080			—			—

Net Other Income		(9,078,963	)		(51,548	)		195,833

Net Income		(11,611,100	)		(705,901	)		1,034,276

Notes:

1)	The activity reported above represents the full month of March.

The financial statements and supplemental information contained herein are limited in scope and cover a limited time period. Moreover, such information is preliminary and unaudited. The financial position and results of operations contained herein are not necessarily indicative of results which may be expected for any other period or for the full year and as a result, may not reflect the consolidated financial position and results of operations of the Debtors in the future.

AlixPartners General

Clovis Oncology, Inc.


Accounts Receivable Aging	0-30 Days			31-60 Days			61-90 Days			91+ Days		Total
Trade Accounts Receivable		10,128,940			712,170			34,740			—		10,875,850
Less: Prompt Pay Discounts & Returns		(371,501	)		(14,243	)		(695	)		—		(386,439	)
Less: Allowance for Bad Debts		(10,932	)		(3,490	)		(340	)		—		(14,762	)

Net Accounts Receivable		9,746,507			694,437			33,705			—		10,474,649

Clovis Oncology UK Limited


Accounts Receivable Aging	0-30 Days			31-60 Days			61-90 Days		91+ Days		Total
Trade Accounts Receivable		4,958,790			4,916,498			—		—		9,875,288
Less: Allowance for Bad Debts		(14,876	)		(49,165	)		—		—		(64,041	)

Net Accounts Receivable		4,943,914			4,867,333			—		—		9,811,246

Clovis Oncology Ireland Limited


Accounts Receivable Aging	0-30 Days			31-60 Days		61-90 Days		91+ Days		Total
Trade Accounts Receivable		7,043			—		—		—		7,043
Less: Allowance for Bad Debts		(21	)		—		—		—		(21	)

Net Accounts Receivable		7,022			—		—		—		7,022

AlixPartners General


Debtor	Total		Current		0-30 Days		31-60 Days		61-90 Days		91+ Days
Clovis Oncology, Inc.		9,475,157		3,959,234		4,022,630		292,819		18,675		1,181,799
Clovis Oncology UK Limited		3,812,752		3,713,583		99,168		—		—		—
Clovis Oncology Ireland Limited		66,816		60,656		—		6,159		—		—

Net Accounts Payable		13,354,724		7,733,473		4,121,798		298,979		18,675		1,181,799

Notes:

While the Debtors’ AP Aging Report shows that the Debtors are past due on certain postpetition amounts owed, certain of these payments are not actually owed pursuant to various provisions of the bankruptcy code, and the Debtors do not believe that once they finish reconciling their invoices, books and records, this will be the case.

AlixPartners General


*USD Actuals*	Clovis Oncology, Inc.			Clovis Oncology UK Limited			Clovis Oncology Ireland Limited
Net Book Value
Computer Equipment		132,117			114,862			—
Furniture and Fixtures		(0	)		5,069			—
Lab Equpment		—			—			—
Leasehold Improvements		—			(0	)		—
Licensed Software		—			—			—
Manufacturing Equipment		5,016			—			—

Office Equipment		—			1,104			—
Trade Booth		(0	)		—			—

Net Book Value		137,133			121,035			—

AlixPartners General

USD Actuals

Clovis Oncology,
Inc.

Clovis Oncology UK
Limited

Clovis Oncology Ireland
Limited

Payments to Insiders

313,675

—

The Debtor, Clovis Oncology, Inc., and its affiliated Debtors, hereby submit this attestation regarding payments to insiders during the period of February 1 through February 28, 2023. With respect to insiders, all cash payments made were on account of ordinary course salaries and authorized travel and expense reimbursements. No non-cash transfers were made during this reporting period.


/s/ Daniel W. Muehl				5/02/2023
Signature of Authorized Individual				Date

Daniel W. Muehl				Executive Vice President and Chief Financial Officer
Printed Name of Authorized Individual				Title of Authorized Individual

Notes:

The insiders included herein are consistent with those as defined by the Bankruptcy Code and as included in the Debtors’ Statements of Financial Affairs. The amount listed Includes all compensation-related expenses paid by the Debtors, including salary, retirement plan contributions, health and other insurance benefits, and expense reimbursements.

AlixPartners General

The Debtor, Clovis Oncology, Inc., and its affiliated Debtors, hereby submit this attestation regarding post-petition taxes. All postpetition taxes for the debtors, which are not subject to dispute or reconciliation are current; provided, however, the Debtors continue to actively reconcile other amounts owed to various taxing and governmental authorities, which may subsequently be subject to dispute.


/s/ Daniel W. Muehl				5/02/2023
Signature of Authorized Individual				Date

Daniel W. Muehl				Executive Vice President and Chief Financial Officer
Printed Name of Authorized Individual				Title of Authorized Individual

AlixPartners General