Exelixis, Inc. (NASDAQ:EXEL) announced two high-level appointments designed to further strengthen the company’s public affairs and business development capabilities following the launch of its newest medicine, CABOMETYX, earlier this year. Susan Hubbard has joined the company as Executive Vice President of Public Affairs and Investor Relations, and Stefan Krauss, Ph.D. has joined as Vice President of Business Development.
“The regulatory approval and launch of CABOMETYX earlier this year has provided a strong foundation for the next phase of Exelixis’ growth,” said Michael M. Morrissey, Ph.D., President and Chief Executive Officer at Exelixis. “In welcoming Susan and Stefan to Exelixis, we are positioning the company for a transformational period, and we are confident that their unique expertise will strengthen our ability to advance the company as it continues to evolve.”
As EVP of Public Affairs and Investor Relations, Susan Hubbard will oversee the company’s public affairs, advocacy and investor relations functions as a member of the company’s executive leadership team. Prior to joining Exelixis in a full-time capacity, Ms. Hubbard served as an independent public affairs and investor relations consultant to the biopharmaceutical industry. From 2014 onward, she was instrumental in developing Exelixis’ communications strategy around the late-stage clinical development, approval and commercial launch of CABOMETYX, as well as several major milestones for the company’s partnered programs. Previously, as one of the initial employees at Gilead Sciences she spent over two decades in roles of increasing responsibility, finishing her tenure as Vice President of Investor Relations. She received her undergraduate degree from University of California, Los Angeles.
As Vice President of Business Development, Stefan Krauss, Ph.D. will lead Exelixis’ business development activities and its ongoing partnering and in-licensing initiatives as the company seeks to expand its pipeline of oncology therapeutics. Before joining Exelixis, from 2014 to 2016 Dr. Krauss served as a Senior Director of Business Development and Licensing at Baxalta (formerly Baxter Bioscience). At Baxalta, he led oncology business development for the company’s newly-formed Oncology Division and was instrumental in adding transformational and innovative partnerships to the company’s rapidly growing oncology portfolio.
Prior to that, from 2011 to 2014 Dr. Krauss served as Director of Search and Evaluation Oncology in the Global Business Development unit of EMD Serono, where he identified and evaluated strategic oncology and immuno-oncology in-licensing opportunities for the company.
Previously, Dr. Krauss held positions of increasing responsibility at Merck Research Laboratories as a senior scientist and team leader as well as in scientific business development, most recently as a Senior Manager and Research Fellow, Global External Basic Research(Oncology). Before entering the pharmaceutical industry, Dr. Krauss was a Research Fellow in Medicine at Beth Israel Deaconess Medical Center and Harvard Medical School. He holds both M.Phil. and Ph.D. degrees in biochemistry from the University of Cambridge (UK).
The new appointments underscore the company’s growth trajectory and will further Exelixis’ efforts in addressing increased interest from media, investors and potential partners. (Original Source)
Shares of Exelixis are currently falling 1.92% to $17.90, or down $0.35. EXEL has a 1-year high of $18.29 and a 1-year low of $3.55. The stock’s 50-day moving average is $11.60 and its 200-day moving average is $10.02.
On the ratings front, Exelixis has been the subject of a number of recent research reports. In a report issued on November 8, Leerink Swann analyst Michael Schmidt reiterated a Buy rating on EXEL, with a price target of $16, which implies a downside of 12% from current levels. Separately, on November 4, Cowen’s Eric Schmidt reiterated a Buy rating on the stock .
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Michael Schmidt and Eric Schmidt have a yearly average return of 28.7% and 21.6% respectively. Schmidt has a success rate of 61% and is ranked #28 out of 4262 analysts, while Schmidt has a success rate of 51% and is ranked #63.
Sentiment on the street is mostly bullish on EXEL stock. Out of 6 analysts who cover the stock, 6 suggest a Buy rating . The 12-month average price target assigned to the stock is $16.50, which implies a downside of 10% from current levels.
Exelixis, Inc. is a biopharmaceutical company, which engages in the developing and commercializing small molecule therapies for the treatment of cancer. Its brands include COMETRIQ and cobimetinib. The company focuses on their proprietary resources and development and commercialization of cabozantinib.