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

Obviously the NDA filing is being reviewed right now. It is in a (inaudible) process but I think we have got a very strong position now to be able to expand and really elaborate the really interesting activity we have seen to-date with cabo across different tumor infections.

Marshall Urist - Morgan Stanley

Sure, so maybe let's touch on the COMET program to start off with and first of all, can you talk about enrollment? How you guys are approaching that for the pain study and how challenging and how restrictive are you being about enrollment and what kind of patients do you think ultimately you going to end up in this study?

Michael Morrissey

So in both, COMET-1, which is a survival trial and COMET-2 which is trial focused on pain palliation, the goal here is to provide very convincing data which would help us differentiate cabo in the dynamic prostate cancer marketplace.

Lots of activity there, lots of success there over the last few years. Obviously we are not hearing anybody from the standpoint of prostate cancer death rate overall having changed. I think the whole goal with cabo in prostate cancer is to really build upon the very unique activity we have seen in the bone in soft tissue and CTCs to be able to, by showing both an extension of survival with COMET-1 and a reduction in pain, reduction in narcotics in COMET-2, really provide a very differentiated label that would help us market the drug potentially in that space.

So we have both trials up. We are continuing to add sites, continuing to screen, continuing to enroll. We think, again, that population for both trials is post Taxotere and post either Abiraterone or Enzalutamide in either sequence.

So really, if you will look at how the market could be evolving over the next few years, really the second line population post Taxotere, is both Abi and Enzalutamide move up first line, it’s a very important population. One that we think is sizeable for the first commercial focus with cabo in CRPC and one that we think we can build upon by doing additional either single agent or combination for us with a variety of different compounds as we move cabo up in lines of therapy.

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