- The CheckMate-9ER of Cabometyx and Opdivo was successful, but not definitively superior to the established combo of Pfizer's Inlyta and Merck's Keytruda.
- The Cabo-Opdivo combo appeared to work better in sicker patients, and the better tolerability (notably lower discontinuations) could be another argument in its favor.
- I don't necessarily see Cabo-Opdivo becoming #1 in front-line RCC in the U.S., but I believe the combo can help drive U.S. RCC sales to $2.4 billion.
- Exelixis has some early-stage clinical assets, but the success of Cabo in RCC is the real key if the stock is to reach my $29 fair value estimate.
For further details see:
Mixed Data From ESMO Sets Up The Next Fight For Exelixis