Tuesday, March 25, 2014

Exelixis provides phase 3 prostate cancer trial update after hours

Exelixis EXEL had a busy day issuing press releases today.  The first came before the market opened with the announcement of European approval of Cometriq for MTC (a rare form of thyroid cancer).  The second came after the market closed which was an update on Cometriq's phase 3 trial in the much more lucrative prostate cancer indication.  The company was notified by the IDMC that the planned interim analysis of the trial has been completed and that the trial will proceed to its final analysis.  The good news is that the drug made it through the futility checkpoint.  The bad news is that the trial could have been concluded early if the results through the interim analysis were exceptional - so statistically significant through the current number of events (deaths) that the trial would be successful no matter how the rest of the events played out. 

Now we wait for the top line results in the coming months. 

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