This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Biotech Update: Exelixis, Oculus, Medarex, Flamel

I hope no one minds me taking a short victory lap over my story this week about the American Society of Clinical Oncology's decision (finally!) to post online its annual meeting research abstracts, making them accessible to everyone.

No more selective disclosure. No more ASCO data leaks.

I started writing about the inequities of ASCO's abstract disclosure policy six years ago. My media credentials for the 2001 ASCO annual meeting were yanked because of those first stories, but I kept at it. (You can read some vintage Feuerstein here and here .)

I've been a pit bull on this story ever since, so it was more than a bit gratifying to see ASCO change course. A lot of credit goes to ASCO leadership for finally getting it right, but if you don't mind, I'll pat myself on the back, too. Just a bit.


Here's an update on Exelixis (EXEL - Get Report), but first a reminder on my company thesis: It has lots of cancer drugs in the pipeline, all going after "sexy" anticancer molecular targets. It also has a partnership with GlaxoSmithKline (GSK - Get Report). I'd expect some clinical failures and setbacks, which can be seen as potential buying opportunities. Exelixis needs only one or two pipeline drugs to hit for the stock to work.

Now, the update: Phase II data on Exelixis' XL880 in papillary renal cell cancer patients was OK, not spectacular. Of 19 evaluable patients, there was one with a partial response, 14 others with stable disease, although some of those tumor-growth stoppages were quite long.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
ONXX $0.00 0.00%
EXEL $2.57 -4.80%
GSK $46.15 -2.22%
ITMN $73.89 -0.03%
JNJ $100.60 -0.94%

Markets

DOW 17,776.12 -200.19 -1.11%
S&P 500 2,067.89 -18.35 -0.88%
NASDAQ 4,900.8850 -46.5560 -0.94%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs