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FDA approves Exelixis' cabozantinib

November 30, 2012 2:26 AM UTC

FDA approved an NDA from Exelixis Inc. (NASDAQ:EXEL) for Cometriq cabozantinib to treat progressive, metastatic medullary thyroid cancer (MTC). Exelixis plans to launch the spectrum-selective kinase inhibitor of VEGF receptor 2 ( KDR/Flk-1) and c-Met receptor tyrosine kinase in early January. The wholesale acquisition cost (WAC) is $9,900 for a 28-day supply. Separately, EMA accepted for review an MAA for Cometriq to treat progressive, unresectable, locally advanced or metastatic MTC. Cometriq has Orphan Drug status for MTC. Exelixis, which made the announcements after market close, was up $0.20 to $4.59 on Thursday. ...