Exelixis's cabozantinib has shown promising results in treating neuroendocrine tumors (NETs), particularly those originating from the gastrointestinal tract. Data from the CABINET trial, presented at the 2025 ASCO Gastrointestinal Cancers Symposium, demonstrated a significant improvement in progression-free survival (PFS) for patients with extra-pancreatic NETs. This has led analysts to recommend a 'Buy' rating for Exelixis stock, anticipating potential FDA approval by April 2025.
CABINET Trial Results
The CABINET trial highlighted that patients with extra-pancreatic neuroendocrine tumors experienced a noteworthy 50% increase in PFS compared to placebo. This subgroup represented more than half of the cohort, underscoring cabozantinib’s potential impact in addressing unmet medical needs in this patient population. The clinical benefits extended to various other factors such as tumor grade, functional status, and prior treatments.
The safety profile of cabozantinib in the trial aligned with known expectations, with no new safety concerns identified. This is crucial for establishing the drug's viability as a long-term treatment option for NETs.
Analyst Recommendation
David Lebowitz, an analyst from Citi, maintained a Buy rating on Exelixis (EXEL) with a price target of $38.00. His recommendation is based on the promising trial results and the anticipated FDA approval, projecting a 17.4% return on investment. Another report from JMP Securities released on January 23 also maintained a Buy rating on the stock with a $41.00 price target.
About Cabozantinib
Cabozantinib is an oral tyrosine kinase inhibitor that targets multiple receptor tyrosine kinases (RTKs) involved in tumor growth and angiogenesis. It is currently marketed under the brand names Cabometyx and Cometriq for the treatment of various cancers, including renal cell carcinoma, hepatocellular carcinoma, and medullary thyroid cancer.
Exelixis Company Overview
Exelixis, Inc. is a biopharmaceutical company focused on discovering, developing, and commercializing new medicines for cancer treatment. The company's portfolio includes Cabometyx, Cometriq, and Cotellic. Founded in 1994 and headquartered in Alameda, CA, Exelixis is dedicated to providing innovative therapies for patients with cancer.
