Disappointment Over Bristol-Myers Squibb's Kidney Combo Boosts Bay Area's Exelixis
Exelixis shares were up 1.71%, or 46 cents, to $27.37 in morning trading Wednesday, Aug. 16 on news that better positions the company's kidney cancer drug Cabometyx in the market.
Topline results released Tuesday from Bristol-Myers Squibb Co. shows that the combination of two Bristol-Myers drugs, Opdivo and Yervoy, failed to show a statistically significant improvement over Pfizer's Sutent in intermediate- and poor-risk kidney cancer patients. That's good news for Exelixis because previously released results already showed improvement from use of Cabometyx over Sutent in an identical sample of kidney cancer patients.
Topline results released Tuesday from Bristol-Myers Squibb Co. shows that the combination of two Bristol-Myers drugs, Opdivo and Yervoy, failed to show a statistically significant improvement over Pfizer's Sutent in intermediate- and poor-risk kidney cancer patients. That's good news for Exelixis because previously released results already showed improvement from use of Cabometyx over Sutent in an identical sample of kidney cancer patients.