Exelixis to fuel pipeline growth with Cabometyx cash flows
How Exelixis plans to parlay Cabometyx sales into internal R&D and late-stage deals to expand its pipeline
On the back of the successful launch of Cabometyx cabozantinib, Exelixis is not only using the increased free cash flow to expand the drug’s label, it also thinks it has the firepower to build out its pipeline through internal discovery and late-stage business development.
The success of Cabometyx, which was approved to treat renal cell carcinoma (RCC) in 2016 and hepatocellular carcinoma (HCC) earlier this year, has vaulted Exelixis Inc. from a small cap development-stage company to a commercially profitable biotech valued at more than $6 billion and with over $1 billion in cash.
President and CEO Michael Morrissey told BioCentury that, for the foreseeable future, the company’s primary focus will be to expand the drug’s label as broadly as possible.
According to clinicaltrials.gov, Cabometyx is being tested either as monotherapy or in combination regimens in 39 active, industry-sponsored trials, across at least 19 tumor types.