Boston, MA 03\/26\/2014 (wallstreetpr) –\u00a0Exelixis, Inc. (NASDAQ:EXEL)<\/b>\u2019s prostate cancer drug candidate which showed positive results in the Phase II of clinical trial will not come to the market soon. The company announced Tuesday that an independent monitoring committee has recommended that it continues with the Phase III study of the drug.<\/p>\n
The company is seeking to expand the treatment scope of its drug called Cometriq, which already carries approval from the U.S. Food and Drug Administration for the treatment of a medullary thyroid cancer (MTC). And in Europe, the drug is has conditional approval for the treatment of advanced medullary thyroid carcinoma.<\/p>\n
Yet, the market of MTC has not been very rewarding in terms of revenue. Basically there are few patients in the space and competition is also high. This makes it difficult for the company to squeeze meaningful income from the sale of the drug.<\/p>\n
Expanding treatment scope<\/b><\/p>\n
As Cometriq has been noted success in MTC treatment, Exelixis, Inc. (NASDAQ:EXEL) is trying to offer it for the treatment of prostate cancer. And this is not out of the blues. In the Phase II study of the drug, it showed positive response in combating prostate cancer.<\/p>\n
With widely positive results from the Phase II study, many analysts and investors were expecting the company would halt further trial for the drug. But that did not come as the monitoring committee asked that Exelixis, Inc. (NASDAQ:EXEL) should proceed with Phase III study to establish the efficacy of the drug.<\/p>\n
Survival rate in patients is always key to any new drug that is coming to the market, getting it wrong on this means that a project can always nosedive, and with it go huge financial investment. This is something that Exelixis, Inc. (NASDAQ:EXEL) is trying to avoid at all cost, and that is why it is out to present data that exceeds the required threshold for review.<\/p>\n
Review of the data<\/b><\/p>\n
The review of the data regarding the efficacy of Cometriq in treatment of prostate cancer is expected later this year. However, lack of definite date for the review can be seen causing worries among investors and sending share of Exelixis down today.<\/p>\n
But once the drug is brought to the market, it is expected to have big impact in the company\u2019s revenue and even earnings. There are many patients of prostate cancer than there are for MTC. Furthermore, the market is currently less competitive. Thus, Exelixis, Inc. (NASDAQ:EXEL) is looking to bring to the market a money-maker drug.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 03\/26\/2014 (wallstreetpr) –\u00a0Exelixis, Inc. (NASDAQ:EXEL)\u2019s prostate cancer drug candidate which showed positive results in the Phase II of clinical trial will not come […]<\/p>\n","protected":false},"author":12,"featured_media":18138,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[264],"tags":[5579,5580],"stock_ticker":[],"class_list":["post-18137","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-health","tag-exelixis-inc-nasdaqexel","tag-nasdaqexel","entry"],"acf":[],"yoast_head":"\n