Exelixis' investigational drug, zanzalintinib, is showing promising early results, suggesting it could become a significant successor to the company's current leading product, cabozantinib. Data from the Phase 1 STELLAR-001 trial, particularly when zanzalintinib is combined with atezolizumab, indicates enhanced efficacy, especially in patients without liver metastases. This development could address unmet needs in cancer treatment by providing a more tolerable and potentially more effective option.
The STELLAR-001 trial data revealed a higher objective response rate (ORR) and disease control rate (DCR) with the zanzalintinib and atezolizumab combination compared to zanzalintinib alone. This is particularly encouraging as Exelixis moves forward with the Phase 3 STELLAR-303 trial and other pivotal studies. The improved efficacy, coupled with better tolerability, could allow patients to remain on treatment longer, potentially leading to improved overall outcomes.
JMP Securities analyst Silvan Tuerkcan highlighted zanzalintinib's potential, noting that early results from the Phase 1/2 STELLAR-001 study suggest impressive efficacy. Tuerkcan also pointed out that zanzalintinib offers improved tolerability compared to cabozantinib, potentially reducing the need for dose adjustments and enhancing patient adherence. Exelixis is actively pursuing multiple pivotal trials involving zanzalintinib, with initial results anticipated in the coming years.
Jefferies analyst Akash Tewari also maintained a Buy rating on Exelixis, citing the promising data from the STELLAR-001 trial. Tewari noted the potential for significant peak sales and the recent favorable intellectual property settlement as further bolstering confidence in the drug's financial prospects. While acknowledging some uncertainties in differentiating zanzalintinib's safety and efficacy from cabozantinib, the overall outlook remains positive.
Exelixis is a biopharmaceutical company focused on developing new medicines for cancer treatment. Its current portfolio includes products such as Cometriq, Cabometyx, and Cotellic. The development of zanzalintinib represents a strategic effort to build upon its existing success and address unmet needs in oncology.
