Exelixis Inc (EXEL)

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Why is Exelixis Inc (EXEL) Stock down?

We've noticed a 6.54% decline in Exelixis Inc (EXEL) stock during the 2024-05-01 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!

23 Oct, 2023:

Shares of Exelixis, Inc. (EXEL) dropped by 8.81% from $21.11 to $19.25 in the trading on Monday, October 23, 2023. The reason why EXEL stock down is due to the company's announcement on detailed results from its Phase 3 CABINET pivotal evaluating Cabozantinib in advanced neuroendocrine tumors:

The CABINET trial achieved its primary objective, showing significant improvements in median progression-free survival (PFS) for patients with advanced pancreatic neuroendocrine tumors (pNET) and extra-pancreatic NET (epNET).
The trial was halted early due to the remarkable efficacy observed during an interim analysis, with consistent safety profiles.
Exelixis plans to discuss these findings with the FDA to potentially offer a new treatment option for patients with these challenging cancers. Investors' cautious response to this news led to the decline in Exelixis, Inc.'s stock price.