Exelixis' Cabometyx Takes Aim at Sutent in Kidney Cancer
After reporting in 2016 that its second-line kidney cancer drug, Cabometyx, outperformed Pfizer Inc.'s (NYSE: PFE) top-selling Sutent in first-line advanced kidney cancer patients, Exelixis Inc. (NASDAQ: EXEL) asked the FDA to expand Cabometyx's label. The FDA wasn't expected to weigh in with an official approval or denial until Feb. 15 but it accelerated its review and gave Cabometyx a green light on Thursday.
The first-line approval opens Cabometyx up to a larger addressable patient population and that should translate into significantly more sales as it wins away business from Sutent. Is Exelixis' profitability about to soar?
Image source: Getty Images.
Source: Fool.com
Exelixis Inc. Stock
€22.13
-1.740%
With 20 Buy predictions and not the single Sell prediction the community is currently very high on Exelixis Inc..
With a target price of 26 € there is a slightly positive potential of 17.49% for Exelixis Inc. compared to the current price of 22.13 €.
