Exelixis Inc Stock Price, News & Analysis

Exelixis, Inc. (NASDAQ: EXEL) announced positive results from a post-hoc analysis of the phase 3 CheckMate -9ER trial, showing that CABOMETYX® (cabozantinib) combined with OPDIVO® (nivolumab) significantly improves quality-adjusted survival for untreated advanced renal cell carcinoma (RCC) patients compared to sunitinib. The analysis revealed a Q-TWiST gain of 4.0 months, translating to a 16.9% relative gain. Key findings include improved time without symptoms and better overall quality of life, addressing the need for advanced kidney cancer treatments that enhance both efficacy and quality of life.

Exelixis, Inc. (Nasdaq: EXEL) will participate in several virtual investor conferences in June 2021. Key presentations include:

• William Blair 41st Annual Growth Stock Conference on June 2 at 5:00pm EDT.
• Goldman Sachs 42nd Annual Global Healthcare Conference on June 9 at 1:20pm EDT.
• BofA Securities 2021 Napa Biopharma Virtual Conference on June 16 at 1:30pm EDT.

Webcast links are available on www.exelixis.com. Exelixis focuses on developing cancer therapies and has several marketed products, including CABOMETYX®.

Exelixis (NASDAQ: EXEL) announced results from cohort 6 of the COSMIC-021 trial, focusing on cabozantinib combined with atezolizumab for metastatic castration-resistant prostate cancer (CRPC). The trial included 132 patients, with a primary endpoint of objective response rate (ORR). High-risk patients showed an ORR of 27%, with a disease control rate of 88%. No new safety signals were observed, and treatment discontinuation due to adverse events was 12%. Exelixis plans to discuss FDA regulatory submission next, following the encouraging results.

Exelixis reported first-quarter 2021 financial results with total revenues of $270.2 million, up from $226.9 million year-over-year. Net product revenues reached $227.2 million, fueled by the FDA approval of CABOMETYX in combination with OPDIVO for advanced renal cell carcinoma. Despite revenue growth, GAAP net income dropped to $1.6 million from $48.6 million, reflecting increased R&D and administrative expenses. Exelixis maintains its 2021 revenue guidance of $1.15 to $1.25 billion.

Exelixis, Inc. (Nasdaq: EXEL) has entered into an agreement to acquire GamaMabs Pharma's AMHR2 antibody technology, paying $5 million upfront and additional milestone payments upon closing. This acquisition allows Exelixis to take control of GamaMabs' murlentamab, which demonstrated initial safety in clinical trials despite a halt in its development due to modest efficacy. Exelixis plans to apply its ADC capabilities to the AMHR2 technology aiming to expedite the development of novel cancer therapies, enhancing its biotherapeutics portfolio and addressing unmet patient needs.

Exelixis, Inc. (Nasdaq: EXEL) announced that CEO Michael M. Morrissey, Ph.D. will participate in three virtual investor conferences in May 2021. These include the 7th Annual Truist Securities Life Sciences Summit on May 4 at 3:30pm EDT, the BofA Securities 2021 Health Care Conference on May 11 at 2:00pm EDT, and the RBC Capital Markets 2021 Global Healthcare Conference on May 19 at 3:05pm EDT. Webcasts can be accessed via the company's website, and replays will be available for 14 days.

Exelixis focuses on developing new medicines for challenging cancers, with four commercial products available.

Exelixis, Inc. (Nasdaq: EXEL) will announce its Q1 2021 financial results on May 6, 2021, after market close, followed by a conference call at 5:00 PM EDT. Investors can access the call via the company's website or by phone. Exelixis is an oncology-focused biotechnology firm known for products like CABOMETYX and COMETRIQ, dedicated to advancing cancer treatment through innovative therapies. The company is a member of the S&P MidCap 400 index and was recently recognized on Fortune's 100 Fastest-Growing Companies list, ranking 17th overall.

Exelixis, Inc. (Nasdaq: EXEL) has received FDA acceptance for its Investigational New Drug Application for XB002, a next-generation antibody-drug conjugate targeting tissue factor. This development marks a significant step toward clinical trials for patients with advanced solid tumors. Preclinical studies have shown that XB002 could offer improved safety and efficacy compared to earlier therapies, with evidence of tumor growth inhibition and complete regression in some models. The company aims to initiate a Phase 1 trial in the second quarter of 2021.

Exelixis, Inc. (Nasdaq: EXEL) announced that its partner Ipsen has received approval from the European Commission for CABOMETYX® (cabozantinib) in combination with OPDIVO® (nivolumab) as a first-line treatment for advanced renal cell carcinoma (RCC). This approval covers all 27 EU member states, plus Norway, Iceland, and Liechtenstein. The decision is based on the CheckMate -9ER trial, which demonstrated significant improvements in progression-free survival, objective response rate, and overall survival when compared with sunitinib. CABOMETYX is also approved as a standalone treatment for advanced RCC.