U.S. markets closed
  • S&P 500

    -16.93 (-0.41%)
  • Dow 30

    +53.62 (+0.16%)
  • Nasdaq

    -138.26 (-0.99%)
  • Russell 2000

    +18.79 (+0.84%)
  • Crude Oil

    +2.62 (+4.35%)
  • Gold

    -11.30 (-0.65%)
  • Silver

    +0.04 (+0.15%)

    +0.0027 (+0.23%)
  • 10-Yr Bond

    +0.0150 (+0.92%)

    +0.0026 (+0.19%)

    -0.0880 (-0.08%)

    -470.59 (-0.75%)
  • CMC Crypto 200

    -21.04 (-1.53%)
  • FTSE 100

    +49.09 (+0.71%)
  • Nikkei 225

    -130.61 (-0.44%)

Exelixis (EXEL) Posts Positive Data From Thyroid Cancer Study

  • Oops!
    Something went wrong.
    Please try again later.
Zacks Equity Research
·3 min read
  • Oops!
    Something went wrong.
    Please try again later.

Exelixis, Inc. EXEL announced that the late-stage study, evaluating cabozantinib in patients suffering from radioiodine-refractory differentiated thyroid cancer who have progressed after up to two prior vascular endothelial growth factor receptor (VEGFR)-targeted therapies, met the co-primary endpoint of demonstrating significant improvement in progression-free survival.

The phase III trial, COSMIC-311, is a multicenter, randomized, double-blind, placebo-controlled study that aimed to enroll approximately 300 patients at 150 sites globally. Patients were randomized in a 2:1 ratio to receive either cabozantinib 60 mg or placebo once daily.

Data from this planned interim analysis of the phase III study, COSMIC-311, showed that cabozantinib reduced the risk of disease progression or death by 78% with a hazard ratio of 0.22.

The independent data monitoring committee for the study recommended stopping the enrollment and unblind sites and patients, given these results. Exelixis intends to discuss the study results, propose changes to the study conduct and plans for a regulatory filing with the FDA in the near term.

The safety profile was consistent with that previously observed for cabozantinib.

We remind investors that the tablet formulation of cabozantinib is approved as Cabometyx in the United States for the treatment of patients with advanced renal cell carcinoma (RCC) and those with hepatocellular carcinoma (HCC) who have been previously treated with sorafenib.

Shares of Exelixis have increased 13.9% in the year so far compared with the industry’s growth of 11.2%.


In August 2020, Exelixis announced the submission of a supplemental new drug application (sNDA) to the FDA for cabozantinib in combination with Bristol-Myers’ BMY Opdivo for patients with advanced RCC. In October 2020, both companies announced that the FDA accepted Exelixis’ sNDA and Bristol-Myers’ supplemental biologics license application (sBLA), granted a Priority Review to both applications and assigned a target action date of Feb 20, 2021.

Exelixis has also collaborated with Roche RHHBY to evaluate Cabometyx in combination with the latter’s PD-L1 immune checkpoint inhibitor, Tecentriq, for various indications.

Exelixis currently carries a Zacks Rank #4 (Sell). A better-ranked stock in the healthcare sector is Halozyme Therapeutics, Inc. HALO, which carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Halozyme’s earnings estimates have grown 22 cents for 2020 and 26 cents for 2021 in the past 60 days.

Biggest Tech Breakthrough in a Generation

Be among the early investors in the new type of device that experts say couldimpact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.

A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.

See 8 breakthrough stocks now>>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Roche Holding AG (RHHBY) : Free Stock Analysis Report
Exelixis, Inc. (EXEL) : Free Stock Analysis Report
Bristol Myers Squibb Company (BMY) : Free Stock Analysis Report
Halozyme Therapeutics, Inc. (HALO) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research