Maintaining Exelixis FVE of $28 Following Approval in Second-Line Liver Cancer
On Jan. 14, the U.S. Food and Drug Administration approved Exelixis' Cabometyx (cabozantinib) tablets for patients with liver cancer who have previously been treated with Nexavar (sorafenib). The company's partner, Ipsen, already received approval for Cabometyx in Europe in November 2018. However, competition in liver cancer is increasingly crowded, so we've decreased our share expectations for cabozantinib in liver cancer. We also incorporated the Japanese approval of Minnebro (esaxerenone) for...Exelixis is an oncology-focused biotechnology company that involved in the discovery, development and commercialization of new medicines for cancers. The company's marketd products are: CABOMETYX? (cabozantinib) tablets for renal cell carcinoma and previously treated hepatocellular carcinoma; and COMETRIQ? (cabozantinib) capsules for progressive, metastatic medullary thyroid cancer. The company's products resulting from its discovery efforts are: COTELLIC? (cobimetinib), an inhibitor of MEK approved as part of a combination regimen to treat melanoma; and MINNEBRO? (esaxerenone), an oral, non-steroidal, selective blocker of the mineralocorticoid receptor approved for the treatment of hypertension in Japan.
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