This Day On The Street
Continue to site
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

Exelixis' CEO Presents At Morgan Stanley Healthcare Conference (Transcript)

I think the company is still focused exclusively around the development and potential commercialization of our lead compound called Cabozantinib or cabo for short. It’s a very interesting dual inhibitor of the MET and VEGF pathways. We have seen profound anti- tumor activity, pre-clinically and clinically. I think the activity of cabo represents somewhat of an old school compound in today being the age of single compounds targeting either single populations or sub-populations within a given tumor type.

Cabo has shown very broad anti-tumor activity across a variety of different tumor indications and also showing activity in the key compartments where primary tumors either start of metastases too. So, a very broadly active compound. One that we are very excited about.

Our first real active indication is now under review at the FDA regarding the MTC NDA filing. So that’s obviously moving forward and we have a broad program in prostrate cancer with two pivotal trials COMET-1 and COMET-2 ongoing and part of the fund raising in the summer about a month ago. We have talked about now expanding the pivotal trial program to include other indications as well based upon some of the data we had at ASCO in June.

Question-and-Answer Session

Marshall Urist - Morgan Stanley

Okay, perfect. So, maybe you can start off by talking about the fundraising. You guys took a little bit of a different strategy than doing things piecemeal. So can you talk about how you thought through that and how you think this sets up the company now around cabo?

Michael Morrissey

So we have raised $415 million in the August time frame. That, coupled with the $295 million that we ended Q2 with, we are in a very solid position right now. We have enough money in the bank to be able to complete the COMET trials comfortably as well as initiate additional pivotal trials. So, really, it’s the momentum that we had hoped to gain by having a broadly active compound across multiple indications.

2 of 3

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
Only $9.95
14-Days Free
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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs