EXEL - Exelixis drops 6% on disappointing cabozantinib combo data in late-stage liver cancer study

Sohel_Parvez_Haque/iStock via Getty Images Exelixis, (EXEL) down 6% premarket and Ipsen (IPSEY) announce that Phase 3 COSMIC-312 trial evaluating cabozantinib (Cabometyx) in combination with Roche's (RHHBY) atezolizumab vs. sorafenib in patients with previously untreated advanced hepatocellular carcinoma met one of the primary endpoints, demonstrating significant improvement in progression-free survival ((PFS)) at the planned primary analysis. Cabozantinib in combination with atezolizumab significantly reduced the risk of disease progression or death by 37% compared with sorafenib (hazard ratio [HR]: 0.63; 99% confidence interval [CI]: 0.44-0.91; P=0.0012). A prespecified interim analysis for the second primary endpoint of overall survival ((OS)) showed a trend favoring the combination of cabozantinib and atezolizumab, but did not reach statistical significance. Based on the preliminary OS data, Exelixis anticipates that the probability of reaching statistical significance at the time of the final analysis is low. The trial will continue as planned; results are anticipated in early 2022. “While we are

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Exelixis drops 6% on disappointing cabozantinib combo data in late-stage liver cancer study