Exelixis (NASDAQ:EXEL) saw its stock tumble 9.1% in premarket trading Monday after unveiling results from two separate late-stage studies evaluating its cancer therapies.
In one update, the company reported data from a trial assessing its experimental treatment for colorectal cancer, which combines zanzalintinib with atezolizumab (marketed as Tecentriq) compared to regorafenib.
After a median follow-up of 18 months, overall survival for patients receiving the zanzalintinib-atezolizumab combination reached 10.9 months, versus 9.4 months for regorafenib. Exelixis stated that one of the dual primary endpoints remained immature at the data cutoff, while the other was met earlier in June.
The company confirmed plans to file its first new drug application for zanzalintinib in the U.S. in 2025.
In a separate announcement over the weekend, Exelixis shared subgroup results from its Phase 3 Cabinet trial evaluating Cabometyx versus placebo in patients with previously treated advanced neuroendocrine tumors (NET) originating in the lungs or thymus.
According to the company, Cabometyx reduced the risk of disease progression or death by 81% compared to placebo. Median progression-free survival was 8.2 months with Cabometyx, versus 2.7 months with placebo.
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