On January 14, 2013, Exelixis, Inc. (the "Company") received notice from Genentech, Exelixis' collaborator and a member of the Roche Group, that the first patient was dosed in a phase 3 pivotal trial evaluating the BRAF inhibitor Zelboraf� (vemurafenib) alone and in combination with GDC-0973 (XL518, RG7421) in previously untreated patients with malignant melanoma and the BRAF V600 mutation (the "Dosing Notice").
I was joking about the 10% jump. If PPS responds at all, it'll just be another manipulation for short-term profit-taking. I'm beginning to suspect they'll shear this sheep right up to next June's ASCO.
It's definitely good news to initiate the trial - but, for the short term - it is just another expense to add to EXEL's qtrly burn rate.