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$4.80 -0.03 (-0.62%)
7/3/2008 1:00 PM

Exelixis, Inc. (EXEL)

CAPS Rating:
****

A development-stage biotechnology company dedicated to the discovery and development of novel small molecule therapeutics for the treatment of cancer and other serious diseases.

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Avatar NetscribeBiotech (73.62) Submitted: 1/08/07 2:19 AM : Outperform Start Price: $9.48 EXEL Score: -39.08

‘Exelixis all set to excel in 2007’. It is a biotechnology company, which engages in the discovery and development of therapies for the treatment of cancer, renal disease, and various metabolic and cardiovascular disorders.

The company is in the growth phase and with no drugs in the market, the stock movements in 2007 is going to be driven by the results of significant milestones of its investigational drugs. The company recently entered into Phase II clinical trial for its investigational drug XL880 for the treatment of Gastric Cancer and is expected to furnish its results in the second half of 2007. Considering its efficacy in Phase I, the drug is expected to be a success in the future for the treatment of Gastric Cancer. Moreover, this investigational drug is also being tested for the treatment of Papillary Renal Cell Carcinoma and is due to furnish results of its Phase II results for this treatment in first half of 2007. Furthermore, the company is likely to publish the Phase II results of other investigational drugs like XL647, XL880 and XL999.

The company is primarily focused on developing drugs for oncology which is the third largest pharmaceutical market, behind the cardiovascular and CNS therapy areas, and is currently experiencing strong growth. This market is expected to grow at an alarming rate over the next few years. Considering the fact that the company has strong collaborations, research findings and major milestones in line in 2007, it is set to head northwards in the coming year.

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Avatar NetscribeBiotech (73.62) Submitted: 5/23/07 8:35 AM

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Creating a new paradigm for the biotechnology industry, Exelixis has been striding forward making a meaningful impact on the lives of patients living with cancer. The San Francisco based company got a fill up when it entered into a collaborative agreement with Bristol-Myers Squibb for commercialization of cancer specific therapies effective from January 2007. With the contract amount totaling to $60 million, this agreement effectively diversify Exelixis risk of too much reliance on Glaxo SmithKline (GSK).

Having said that, the agreement with GSK too is moving to a fruitful and clear direction, as GSK gets ready to review a comprehensive data package on KL647, the first of the three compounds, it has the option to develop. If GSK goes ahead and exercises the option, the cash flow to Exelixis in the form of milestone payment will be substantial. Based on the positive data on XL647 this looks like a sure possibility.

In the clinical development front, three compounds – XL880, XL184 and XL784 has moved into Phase II studies in 2007 with encouraging results. Addressing renal and oncology markets the proof-of –determination for these compounds are expected by the end of this year. Apart from the above, three more compounds will be entering the phase II trials this year thus taking the total to six. Of this XL999 was put on hold by the FDA in December. The company has also filed investigative new drug application (IND) for XL765, a compound that addresses tumor cell growth, thus taking the total IND numbers to three, in less than the four months.

This strong product line ensures along with the collaborative agreements make sure that the company scrip will continue the steady progress that it has been making since the last six months.

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