Piper Jaffray Maintains Overweight Rating On Exelixis

According to Piper Jaffray, Exelixis EXEL Overweight rating is maintained Piper Jaffray said that abstracts were published last night for the upcoming American Society of Clinical Oncology (ASCO) meeting in Chicago from June 3rd-7th. “Exelixis has 3 oral presentations at ASCO including an overall update of the Phase II randomized discontinuation trial (RDT), the full CRPC cohort on 168 patients and additional ovarian cancer data. Exelixis will host an Investor Briefing at ASCO on Monday June 6th. The company is conducting 150-patient non-randomized extension studies in castrate-resistant prostate cancer (CRPC) and intends to initiate a randomized study using a composite endpoint in CRPC under an SPA this year. We still expect pivotal Medullary Thyroid Cancer (MTC) data this quarter potentially offering the first approval for Cabo in 2012.” Exelixis closed yesterday at $11.66.