Zanzalintinib

Brookline Capital Markets initiated coverage on Exelixis, Inc. with a Buy rating and a $40 price target, citing strong momentum and growth potential. Exelixis, trading at $33.82, is expected to see significant revenue growth, reaching $7.1 billion by 2033, driven by its products Cabometyx and Cometriq, and new pipeline developments. Despite optimism, analysts note the high risk involved in development-stage programs.

Merck discontinues development of cancer candidates vibostolimab and favezelimab, impacting KeyVibe and KEYFORM programs. Despite setbacks, Keytruda remains Merck's top revenue driver, with strong sales in early-stage lung cancer. Merck focuses on Keytruda's long-term growth through innovative combinations and partnerships. However, reliance on Keytruda and declining Gardasil sales in China raise concerns. Merck's stock underperforms, yet its valuation and pipeline suggest potential for long-term investors.

Exelixis reports $539.5M in total revenues, $478.1M from Cabozantinib in the U.S., GAAP EPS of $0.40, and non-GAAP EPS of $0.47. The company updates revenue guidance and announces a favorable patent ruling for Cabozantinib. A collaboration with Merck expands the Zanzalintinib development program. A conference call is scheduled for 5:00 PM Eastern Time.

Merck and Exelixis plan to collaborate on clinical trials combining Exelixis’ zanzalintinib with Merck’s Keytruda for HNSCC and Welireg for RCC, aiming to improve outcomes in these cancers.

Exelixis and MSD partner to evaluate combining zanzalintinib with KEYTRUDA in Phase III HNSCC trial and with WELIREG in Phase I/II and Phase III RCC trials. MSD provides KEYTRUDA for Exelixis-sponsored STELLAR-305 trial and co-funds RCC trials, while Exelixis retains commercial rights to zanzalintinib.

Exelixis and Merck announce clinical collaboration to evaluate zanzalintinib with KEYTRUDA in HNSCC and with WELIREG in RCC, aiming to address unmet needs. Exelixis retains global rights to zanzalintinib, while Merck supplies KEYTRUDA and funds part of the RCC trials.

Arcus Biosciences partners with AstraZeneca for a clinical trial to assess the safety and efficacy of combining casdatifan (HIF-2a inhibitor) and volrustomig (PD-1/CTLA-4 bispecific antibody) in clear cell renal cell carcinoma patients.

DelveInsight's 'Renal Cancer Pipeline Insight 2024' report highlights a robust pipeline with 70+ companies developing 75+ therapies, including key players like Genentech and Merck. Promising drugs like Atezolizumab and ADI-270 are under various clinical trial phases, with recent FDA Fast Track designations for ADI-270 in metastatic RCC.

DelveInsight's 'Renal Cancer Pipeline Insight 2024' report highlights a robust pipeline with 70+ companies developing 75+ therapies, including key players like Genentech, Allogene Therapeutics, and Merck & Co. Inc. Promising therapies such as Atezolizumab and ALLO-316 are under various clinical trial phases, with recent FDA Fast Track designations and IND approvals for novel drugs like ADI-270 and AB-2100.