Company Update (NASDAQ:EXEL): Data From Exelixis, Inc.’s METEOR Pivotal Trial of Cabozantinib in Advanced Renal Cell Carcinoma Accepted as Late-Breaker Presentation in Presidential Session at European Cancer Congress 2015
Exelixis, Inc. (NASDAQ:EXEL) announced that data from clinical trials of cabozantinib and cobimetinib will be the subject of three presentations at the European Cancer Congress(ECC) 2015, which will be held September 25-29, 2015, in Vienna, Austria.
METEOR Data Accepted for Oral Presentation in Presidential Session
Detailed data from METEOR, the phase 3 pivotal trial of cabozantinib in advanced renal cell carcinoma, will be presented at the ECC as a late-breaking abstract in the Presidential Session I on Saturday, September 26, 2015. In July 2015, Exelixisannounced that the trial met its primary endpoint, demonstrating a statistically significant increase in progression-free survival for cabozantinib versus an active comparator, everolimus, in a population of patients who experienced disease progression following treatment with a VEGF receptor tyrosine kinase inhibitor.(Original Source)
Shares of Exelixis closed last Friday at $5.25. EXEL has a 1-year high of $6.81 and a 1-year low of $1.26. The stock’s 50-day moving average is $5.20 and its 200-day moving average is $3.59.
On the ratings front, Exelixis has been the subject of a number of recent research reports. In a report issued on July 20, Cowen analyst Eric Schmidt upgraded EXEL to Buy. Separately, on the same day, Piper Jaffray’s Edward Tenthoff maintained a Hold rating on the stock and has a price target of $6.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Eric Schmidt and Edward Tenthoff have a total average return of 35.0% and 16.3% respectively. Schmidt has a success rate of 55.6% and is ranked #44 out of 3737 analysts, while Tenthoff has a success rate of 48.2% and is ranked #344.
Exelixis Inc is a biotechnology company that develops small molecule therapies for the treatment of cancer.