Exelixis, Inc (NASDAQ:EXEL) trades flat, XOMA Corp (NASDAQ:XOMA)
Exelixis, Inc (NASDAQ:EXEL): Tuesday’s trading session saw Exelixis, Inc (NASDAQ:EXEL) close at 0.21%. The opening price of $4.87 touched an intraday high of $4.92 per share before setting down to $4.86. A total of around 3.43 million shares were traded in Tuesday’s trading session. This was above the average volume of 1.45 million, measured over a period of 30 days.
Exelixis shareholders finally got a first glance of Cometriq sales. Cometriq is designed for treating MTC or metastatic medullary thyroid cancer. This is a rare but extremely aggressive form of thyroid cancer. Cometriq is the company’s first Food and Drug Administration approved drug. The current standard treatment is Caprelsa by AstraZeneca. In comparison, Cometriq nearly tripled the progression-free survival in trials. Based just on these, Cometriq has set the stage to hog all the limelight and push AstraZeneca into the shadows, in MTC. The company’s Q1 results reported a loss of $0.24 per share on sales of $9.7 million. Wall Street had projected a revenue loss of $0.29 per share on $5.3 million. Cometriq was the saving grace and $1.9 million in sales has been attributed to it.
XOMA Corp (NASDAQ:XOMA): Tuesday’s trading session saw XOMA Corp (NASDAQ:XOMA) shares headed 2.79% upward. The opening price of $4.32 touched an intraday high of $4.40 per share before setting down to $3.18. A total of around 1.59 million shares were traded in Tuesday’s trading session. This was above the average volume of 0.749 million, measured over a period of 30 days. XOMA reported first-quarter results on Wednesday. The company announced lower revenue compared with the same period last year. Shares rose nearly 19% on other news from Xoma Corp (NASDAQ:XOMA).
The company announced that its highly encouraging interim results were attributed to the phase-II study of gevokizumab. This is a treatment for moderate to severe acne vulgaris. XOMA Corp (NASDAQ:XOMA) also announced its preliminary data report from another phase-II study of the same drug for the treatment of Behçet’s uveitis. This was being conducted by Servier, its French partner. The preclinical pipeline of XOMA includes various classes of antibodies. These either activate or sensitize the insulin receptor XMet, in vivo.