Positive Results From Phase 3 Clinical Trial of Cabozantinib - Report on Exelixis

Jul 24, 2015, 09:05 ET from www.aciassociation.com

NEW YORK, July 24, 2015 /PRNewswire/ --

ACI Association has initiated research coverage on Exelixis, Inc. (NASDAQ: EXEL). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.

Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/?c=EXEL

Highlights from our EXEL Report include:

  • METEOR, Phase 3 Pivotal Trial Of Cabozantinib -- On July 20, 2015 Exelixis, Inc announced positive top-line results from the primary analysis of METEOR, the phase 3 pivotal trial of Cabozantinib. The Company informed that trial was conducted in patients suffering with metastatic renal cell carcinoma (RCC) who have experienced disease progression following treatment with a VEGF receptor tyrosine kinase inhibitor (TKI). The Company added that the trial compared outcome of administration of cabozantinib to everolimus in 658 patients who were enrolled across 200 sites in 26 countries.
  • Trial Met Its Primary Endpoint -- As per the Company, the trial met its primary endpoint of demonstrating a statistically significant increase in progression-free survival (PFS) in the first 375 randomized patients as determined by an independent radiology committee (IRC). Moreover, the trial revealed that Cabozantinib reduced the risk of disease progression or death by 42% compared to the everolimus arm (hazard ratio [HR]=0.58, 95 percent CI 0.45-0.75, p<0.0001).
  • Managements View -- Commenting on the results of METEOR Michael M. Morrissey, Ph.D., the Company's President and CEO said, "The positive top-line results from METEOR represent strong progress for the kidney cancer community and for Exelixis, bringing us one step closer to our shared goal of delivering a new and meaningfully differentiated therapeutic option for the many metastatic RCC patients in need. With these data now in hand, Exelixis' highest corporate priority becomes the submission of U.S. and EU regulatory filings, which we intend to complete in early 2016."
  • Other Corporate Updates -- In another release dated July 15, 2015, Exelixis, announced that Christopher J. Senner is appointed as its Executive Vice President and CFO. Exelixis informed that in his new role Mr. Senner will oversee the Company's global finance function, leveraging extensive experience which gained earlier in his career. Mr. Senner holds nearly 25 years of experience in biopharmaceutical finance, including special expertise in global financial operations and controls, strategic planning and analysis, supply chain finance and business development.

To find out how this influences our rating on Exelixis, Inc. read the full report in its entirety here: http://www.aciassociation.com/?c=EXEL

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