Exelixis makes its case
Exelixis argues for novel Phase III strategy for cabozantinib in prostate cancer
New Phase II data for Exelixis Inc.'s cabozantinib and Phase III plans for the cancer candidate spooked investors last Monday, as the stock lost 20% of its value. But on a post-market investor briefing, the company attempted to put the six deaths in the trial into perspective and offered buy-in from KOLs on its plans to get approval in castration-resistant prostate cancer using a novel composite endpoint.
The stock rebounded 12% on Tuesday, before settling back to close the week with a 16% loss.
The next step is firming up plans for the composite endpoint study with FDA, which Exelixis hopes will provide a quicker path to approval than the other Phase III trials it has planned.
As reported at the