Ipsen and Exelixis set for huge Cabometyx gains

16 October 2017

Cabometyx (cabozantinib), a drug developed by US biotech Exelixis (Nasdaq: EXEL) and French drugmaker Ipsen (Euronext: IPN), is fast becoming one of the hottest properties in oncology, news on Monday confirmed.

The companies announced that that the Phase III trial CELESTIAL met its primary endpoint of overall survival (OS), with cabozantinib providing a statistically-significant and clinically-meaningful improvement in median OS compared to placebo in patients with advanced hepatocellular carcinoma (HCC).

There was further good news about Cabometyx in previously untreated renal cell carcinoma (RCC), and the share prices of both companies enjoying massive stock market gains after Monday’s trading.

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