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.
