Upcoming AWS Coverage on ARIAD Pharmaceuticals

LONDON, UK / ACCESSWIRE / February 1, 2017 / Active Wall St. blog coverage looks at the headline from Exelixis, Inc. (NASDAQ: EXEL) as the Company and Japan based Takeda Pharmaceutical Co. Ltd announced on January 31, 2017, an exclusive licensing agreement for the commercialization and further clinical development in Japan of Cabozantinib (Cabometyx), Exelixis' lead oncology medicine. Register with us now for your free membership and blog access at:

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One of Exelixis' competitors within the Biotechnology space, ARIAD Pharmaceuticals, Inc. (NASDAQ: ARIA), is estimated to report earnings on February 28, 2017. AWS will be initiating a research report on ARIAD Pharma following the release of its earnings results.

Today, AWS is promoting its blog coverage on EXEL; touching on ARIA. Get all of our free blog coverage and more by clicking on the links below:

http://www.activewallst.com/registration-3/?symbol=EXEL

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Terms of Agreement

Under terms of the agreement, Exelixis will receive $50 million as upfront payment from Takeda, while the Company is eligible to receive development, regulatory, and first-sales milestones of $95 million for the first three planned indications. Furthermore, Exelixis will be eligible to receive royalties on sales by Takeda.

Exelixis and Takeda will partner on Cabozantinib's clinical development in Japan and on translating existing and forthcoming clinical data for potential regulatory filings in the country.

In the METEOR pivotal trial, Cabozantinib demonstrated statistically significant improvements in overall survival, progression-free survival and objective response rate, meaningfully differentiating it from other therapies to treat advanced renal cell carcinoma (RCC) following prior therapy. In addition to advanced RCC, future indications could include advanced hepatocellular cancer (HCC), the subject of the CELESTIAL global pivotal trial for which results is anticipated in 2017. Additionally, Exelixis is conducting earlier-stage studies with the Company's collaboration with the National Cancer Institute's Cancer Therapy Evaluation Program, and its ongoing Investigator-Sponsored Trial program.

"Takeda is the ideal partner to advance Cabozantinib in Japan and deliver this important treatment option to Japanese patients with cancer," said Michael M. Morrissey, Ph.D., President and Chief Executive Officer of Exelixis, "this agreement further propels the global progress for Cabozantinib development and commercialization, which now includes the recent first commercial sale of CABOMETYX in the United Kingdom, triggering a $10 million milestone payment from Ipsen to Exelixis."

Takeda Benefits

As per the agreement, Takeda gains exclusive commercial rights for all potential future Cabozantinib indications in Japan, including advanced RCC, for which Cabozantinib is marketed in the United States and European Union as CABOMETYX? tablets. Cabozantinib is not approved for use in Japan. Previously, Exelixis and its collaborators conducted early-stage clinical trials in Japan, including a phase-1 trial in advanced solid tumors.

Exelixis maintains its exclusive rights to develop and commercialize Cabozantinib in the United States, and its partner, Ipsen, maintains its exclusive commercialization rights for current and potential future Cabozantinib indications outside of the United States and Japan.

About CABOMETYX? Tablets

CABOMETYX is a tablet formulation of Cabozantinib. Its targets include MET, AXL, and VEGFR-1, -2 and -3. In preclinical models, Cabozantinib has been shown to inhibit the activity of these receptors, which are involved in normal cellular function and pathologic processes such as tumor angiogenesis, invasiveness, metastasis, and drug resistance.

On April 25, 2016, the FDA approved CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who have received prior anti-angiogenic therapy. On September 09, 2016, the European Commission approved CABOMETYX tablets for the treatment of advanced renal cell carcinoma in adults who have received prior vascular endothelial growth factor (VEGF)-targeted therapy in the European Union, Norway, and Iceland. On December 21, 2016, Exelixis and Ipsen jointly announced an amendment to their exclusive licensing agreement for the commercialization and development of Cabozantinib to include Canada.

Announces Stock Grants

On January 31, 2017 Exelixis announced that it granted restricted stock unit awards (RSUs) representing an aggregate of 61,750 shares of Exelixis' common stock and stock options to purchase an aggregate of 123,500 shares of Exelixis' common stock to 13 new employees.

Each RSU vests as to 1/4th of the shares subject to the RSU on the first established RSU vesting date following the one-year anniversary of the employee's date of hire and thereafter as to 1/4th of the original number of shares subject to the RSU every year thereafter over a total of four years until fully-vested, subject to such employee's continued service with Exelixis on each such date. The stock options with respect to 12 stock options to acquire an aggregate of 98,500 shares have an exercise price of $18.57 per share, and one stock option to acquire 25,000 shares has an exercise price of $18.28 per share.

Exelixis stated that it adopted the Inducement Award Plan to better position the Company in recruiting top talent in a highly competitive hiring environment within the biopharmaceutical industry.

Stock Performance

On Tuesday, January 31, 2017, the stock closed the trading session at $18.12, slightly declining 0.88% from its previous closing price of $18.28. A total volume of 9.88 million shares have exchanged hands, which was higher than the 3-month average volume of 5.86 million shares. Exelixis' stock price rallied 21.77% in the last month, 66.54% in the past three months, and 95.47% in the previous six months. Additionally, the Company's share price has surged 298.24% in the past twelve months and 21.53% on YTD basis. The stock currently has a market cap of $5.19 billion.

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