NEW YORK, July 21, 2015 /PRNewswire/ -- Exelixis, Inc. (NASDAQ : EXEL ) is a biotechnology company that develops and markets treatments for cancer. The company is in its development stage with one approved treatment. The two most advanced assets of the company are Cabozantinib, and Cobimetinib. Exelixis has five Phase III trials for various cancer treatments using Cabozantinib and Cobimetinib. On top of those, the company has numerous strategic partnerships with other drug companies, and multiple treatments in Phase II trials. Exelixis has a huge pipeline of potential uses for its treatments.
On July 20, Exelixis announced its Cabozantinib drug showed a promising 42% reduction in the risk of disease progression or death. The announcement further touted "the most commonly utilized therapies have demonstrated a uniformly modest progression-free survival benefit". The drug is already approved for the treatment of medullary thyroid cancer, but that pulls in just $25 million in revenue annually due to the relative scarcity of the disease.
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