Shares of Exelixis Inc. (EXEL) rose 1.9% to $25.70 in premarket trading on Monday, July 10, after the South San Francisco, Calif.-based firm and Bristol-Myers Squibb Co. (BMY) announced they have started a Phase 3 study of  Opdivo (nivolumab) in tandem with Cabometyx (cabozantinib) tablets or Opdivo and Yervoy (ipilimumab) in combination with Cabometyx versus sunitinib in patients with previously untreated, advanced or metastatic renal cell carcinoma.

Other biotech movers include Omeros Corp. (OME) R, up 7.9% to $20.61 and Inovio Pharmaceuticals Inc. (INO) , up 3.1% to $8.12.

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