Exelixis shares climb following report on potential prostate cancer drug Print E-mail
By Staff and Wire Reports   
Saturday, 19 February 2011 03:18
best penny stock picksShares of Exelixis (NASDAQ:EXEL) climbed Friday, a day after the company reported updated interim data from the cohort of patients with metastatic castration-resistant prostate cancer (CRPC) treated with cabozantinib (XL184) in an ongoing phase 2 adaptive randomized discontinuation trial.

The data support the findings that cabozantinib reduces or stabilizes metastatic bone lesions in nearly all patients evaluable by bone scan, reduces bone pain and narcotic analgesic medication and results in an increase in hemoglobin in patients with anemia. The data also suggest that cabozantinib shows an encouraging early signal of durable clinical benefit in both docetaxel-na├»ve and pretreated patients.  Lesions can lead to bone breaks and severe pain.

David C. Smith, M.D., Professor, Departments of Internal Medicine and Urology at the University of Michigan, presented the data on Thursday, February 17 in a poster session at the American Society of Clinical Oncology's 2011 Genitourinary Cancers Symposium (Abstract #127) in Orlando, Florida.

As of the January 27, 2011 cut-off date, accrual in this cohort was complete at 168 patients, randomization was halted, and randomized patients were unblinded based on an observed high rate of clinical activity.

The drug is being studied in patients who have prostate cancer that has spread and become resistant to hormonal therapy.

Cabozantinib, an inhibitor of tumor growth, metastasis and angiogenesis, simultaneously targets MET and VEGFR2, key kinases involved in the development and progression of many cancers. It has recently been shown in preclinical models that treatment with selective inhibitors of VEGF signaling can result in tumors that are more invasive and aggressive compared to control treatment.

You may want to consider putting the stock on your watchlist as a break-out candidate. Shares broke through resistance- above the upward channel where they had been trading and did not sell off in afternoon trading.




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