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Exelixis Inc. (symbol: EXEL) is a leading biopharmaceutical company that specializes in the discovery, development, and commercialization of small molecule therapies aimed at improving cancer treatment. Founded in the early 1990s, Exelixis has dedicated the past decade to establishing a robust development platform to bring new, effective cancer therapies to patients in need.
Exelixis’s flagship product, Cometriq® (cabozantinib), received its initial regulatory approval in late 2012 and has since been a cornerstone in the company’s portfolio. Cometriq is prescribed for the treatment of metastatic medullary thyroid cancer, while its variant Cabometyx is used for treating kidney and liver cancers.
Another significant achievement is the development and commercialization of Cotellic in partnership with Roche, targeted at melanoma treatment. These therapies have not only enhanced Exelixis’s market presence but also brought substantial improvements in patient outcomes.
Exelixis remains steadfast in its commitment to clinical excellence and patient care, consistently exploring new avenues for innovative cancer treatments. The company continues to engage in rigorous research and development activities, underpinned by strategic partnerships and collaborations.
Financially, Exelixis has shown solid performance with steady revenue growth driven by its commercial products and a promising pipeline of new therapies under development. The company’s dedication to research, patient care, and financial prudence makes it a notable entity in the biopharmaceutical landscape.
For more information about Exelixis and potential job opportunities, please visit their official website at www.exelixis.com.
Better Therapeutics (NASDAQ: BTTX) has announced the appointment of Frank Karbe as President and CEO starting July 5, 2022. He replaces co-founder Kevin Appelbaum, who will continue until then. Karbe brings extensive experience, having previously raised approximately $2 billion at Myovant Sciences and over $4 billion at Exelixis. The company is poised for a potential FDA submission of its first digital therapeutic for type 2 diabetes, supported by positive trial data indicating significant improvements in patient outcomes.
Exelixis (Nasdaq: EXEL) announced participation in investor conferences in June 2022. The company will present at the William Blair 42nd Annual Growth Stock Conference on June 7, 2022, at 11:00 a.m. ET in Chicago, and at the 2022 Jefferies Healthcare Conference on June 8, 2022, at 1:30 p.m. ET in New York. Webcast links for the events can be found on Exelixis' website, where replays will also be available for 30 days.
Exelixis announced promising results from a phase 2 trial of cabozantinib combined with pembrolizumab in patients with recurrent or metastatic head and neck cancer. The trial achieved an objective response rate of 54% and an overall clinical benefit rate of 91%. At 10.6 months follow-up, one-year progression-free survival was 54%%, while one-year overall survival was 68.4%%. Side effects included fatigue and diarrhea, with a 25% discontinuation rate due to adverse events. The results will be presented at the ASCO Annual Meeting on June 3.
Exelixis announced encouraging results from the phase 1b COSMIC-021 trial, highlighting cabozantinib's activity in combination with atezolizumab for advanced urothelial carcinoma and non-small cell lung cancer. At the ASCO Annual Meeting, data showed objective response rates of 20%, 30%, and 10% for various patient cohorts. Key findings included disease control rates of up to 80% in certain groups and a manageable safety profile. The company continues to explore cabozantinib's potential in ongoing trials and next-generation therapies.
Exelixis reported total revenues of $356.0 million for Q1 2022, up from $270.2 million in Q1 2021. The cabozantinib franchise drove revenues of $310.3 million, reflecting strong demand for CABOMETYX in advanced renal cell carcinoma and thyroid cancer. The GAAP diluted EPS stood at $0.21, with non-GAAP EPS at $0.26. Research and development expenses decreased to $156.7 million. Exelixis retained a strong cash position of $2.0 billion and maintained its 2022 revenue guidance of $1.525 billion to $1.625 billion.
Exelixis (Nasdaq: EXEL) announced management participation in two upcoming investor conferences. The first is at the BofA Securities 2022 Healthcare Conference on May 11 at 1:40 p.m. ET in Las Vegas, followed by the RBC Capital Markets Global Healthcare Conference on May 17 at 8:30 a.m. ET in New York. Interested parties can access webcasts via www.exelixis.com. Replays will be available for 30 days.
Exelixis, Inc. (Nasdaq: EXEL) announced that CABOMETYX® (cabozantinib) received approval from the European Commission for use in adults with locally advanced or metastatic differentiated thyroid carcinoma (DTC) who are refractory to or ineligible for radioactive iodine (RAI) treatment. This milestone allows CABOMETYX to be marketed across 27 EU member states, Norway, Liechtenstein, and Iceland. The approval is based on results from the COSMIC-311 phase 3 trial, which showed a significant improvement in progression-free survival versus placebo.
Exelixis, Inc. (NASDAQ: EXEL) is set to release its Q1 2022 financial results on May 10, 2022, after market close. A conference call will take place at 5:00 p.m. ET to discuss the results and provide a business update. Investors can access the webcast via the company’s website. Exelixis is focused on oncology, developing new medicines for difficult-to-treat cancers, and has successfully brought four products to market. The company continues to reinvest in its pipeline and seeks to expand its therapeutic offerings.
Exelixis, Inc. (Nasdaq: EXEL) has initiated the dose-escalation phase of a first-in-human phase 1 trial for XL114, a novel anti-cancer compound targeting non-Hodgkin's lymphoma (NHL). This trial aims to determine both the recommended and maximum tolerated doses while evaluating safety and preliminary efficacy. Preclinical studies suggest XL114 is effective against lymphoma cells resistant to Bruton's tyrosine kinase inhibitors. The company looks forward to progressing to the expansion stage following dose determination.
Exelixis, Inc. (Nasdaq: EXEL) announces the retirement of Charles Cohen, Ph.D., from its Board of Directors, effective May 25, 2022. Dr. Cohen, a co-founder, has served on the Board since November 1995, significantly contributing to the company's evolution in oncology therapies. His leadership, particularly in the Compensation Committee, has been pivotal in Exelixis' growth, highlighted by over $1 billion in 2021 net revenue from cabozantinib. The company expresses gratitude for his service and confidence in the ongoing leadership to continue advancing innovative cancer treatments.
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