Exelixis Shares Hit 52-Week High on Phase 3 Study Data
April 20 2020 - 10:27AM
Dow Jones News
By Colin Kellaher
Shares of Exelixis Inc. rose more than 20% on Monday after a
Phase 3 study evaluating its cancer drug Cabometyx in combination
with Bristol-Myers Squibb Co.'s Opdivo in the most common type of
kidney cancer in adults met its main endpoints.
The companies said the study met the primary endpoint of
significantly improving progression-free survival, as well as
secondary endpoints of overall survival and objective response
rate, compared to sunitinib in patients with previously untreated
advanced or metastatic renal-cell carcinoma.
Exelixis, an Alameda, Calif., biopharmaceutical company in early
2017 announced plans to work with Bristol-Myers to study Cabometyx
with Opdivo, either alone or in combination with Bristol's
Yervoy.
Shares of Exelixis were recently up 23.2% to $23.95, a new
52-week high, in early trading Monday. Bristol-Myers shares rose
2.3% to $62.02.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
April 20, 2020 10:12 ET (14:12 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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