Send me real-time posts from this site at my email

Is Exelixis' (EXEL) Growth Story Likely to Continue?

Exelixis EXEL, an oncology-focused company, maintains momentum on the back of the solid performance of its lead drug Cabometyx amid stiff competition

Cabometyx is a tablet formulation of cabozantinib approved for treating patients with advanced renal cell carcinoma (RCC) and patients with hepatocellular carcinoma (HCC) who have been previously treated with Nexavar.

In particular, the approval of Cabometyx for patients with advanced RCC as a first-line treatment in combination with Bristol Myers’ BMY Opdivo (nivolumab) has fueled sales of the drug.

Bristol-Myers’ Opdivo is one of the leading revenue generators of the company and is approved for various oncology indications.

Cabometyx is also approved for previously treated, radioactive iodine (RAI)-refractory differentiated thyroid cancer (DTC). Cabometyx generated sales of $641.97 million in the first half of 2022, up 29%.

The capsule formulation of cabozantinib is approved as Cometriq for progressive, metastatic medullary thyroid cancer (MTC).

In addition, the pipeline progress has been impressive as the company strives to expand Cabometyx’s label and concurrently develop its portfolio beyond lead drug Cabometyx.

Other candidates in Exelixis’ pipeline include XL092, a next-generation oral tyrosine kinase inhibitor (TKI); XB002, an antibody drug conjugate (ADC) that targets tissue factor (TF); XL102, a potent, selective and orally bioavailable covalent inhibitor of cyclin-dependent kinase 7 (CDK7); and XL114, a novel anti-cancer compound that inhibits the CARD11-BCL10-MALT1 (CBM) complex.

Earlier this month, the company announced results from the dose-escalation stage of STELLAR-001, an ongoing phase Ib trial evaluating XL092 as a single-agent and in combination with Tecentriq (atezolizumab) in patients with locally advanced or metastatic solid tumors. 

Both single-agent XL092 and XL092 in combination with atezolizumab demonstrated encouraging efficacy and safety in a heavily pretreated patient population. XL092 demonstrated preliminary clinical activity similar to that observed with cabozantinib in phase I across a range of solid tumors and dose levels, with a manageable safety profile.  Based on the results, the 100 mg dose of XL092 was selected for the expansion phase, which is ongoing in a number of solid tumor types.

Exelixis has also initiated the dose-escalation stage of the first-in-human phase I trial of XL114 as a monotherapy in patients with NHL who have received prior standard therapies.

Meanwhile, the company is also forming strategic collaborations to strengthen its pipeline. In July, Exelixis entered into an exclusive license agreement with Ryvu Therapeutics to develop novel STING agonist-based targeted cancer therapies.

In June, Exelixis and BioInvent entered into an option and license agreement focused on identifying and developing novel antibodies for use as oncology therapeutics. The collaboration is intended to expand Exelixis’ portfolio of antibody-based therapies.

The successful development of additional drugs will broaden its portfolio and reduce its dependence on the lead drug Cabometyx.

Competition is stiff in the RCC space, and capturing additional market share might become tough for Exelixis.

Merck’s MRK Keytruda, in combination with Pfizer’s PFE Inlyta, is also indicated for the first-line treatment of patients with advanced RCC.

Merck’s Keytruda, an anti-PD-1 therapy, is approved for the adjuvant treatment of patients with RCC at intermediate-high or high risk of recurrence following nephrectomy or nephrectomy and resection of metastatic lesions.

Pfizer’s Inlyta has shown strong performance, driven by continued adoption in the United States and Europe. PFE’s older drug Sutent is also approved for advanced RCC.


Just Released: Free Report Reveals Little-Known Strategies to Help Profit from the  $30 Trillion Metaverse Boom

It's undeniable. The metaverse is gaining steam every day. Just follow the money. Google. Microsoft. Adobe. Nike. Facebook even rebranded itself as Meta because Mark Zuckerberg believes the metaverse is the next iteration of the internet. The inevitable result? Many investors will get rich as the metaverse evolves. What do they know that you don't? They’re aware of the companies best poised to grow as the metaverse does. And in a new FREE report, Zacks is revealing those stocks to you. This week, you can download, The Metaverse - What is it? And How to Profit with These 5 Pioneering Stocks. It reveals specific stocks set to skyrocket as this emerging technology develops and expands. Don't miss your chance to access it for free with no obligation.

>>Show me how I could profit from the metaverse!

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
Bristol Myers Squibb Company (BMY): Free Stock Analysis Report
Pfizer Inc. (PFE): Free Stock Analysis Report
Merck & Co., Inc. (MRK): Free Stock Analysis Report
Exelixis, Inc. (EXEL): Free Stock Analysis Report
To read this article on click here.
Zacks Investment Research

Welcome! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue