NEW YORK, NY / ACCESSWIRE / June 13, 2017 / The Biotech Industry has continued to outperform the broader markets in 2017. Biotech companies appear to be benefitting from a speedier FDA approval process in 2017. There has already been 21 new Novel Drug Approvals so far in 2017, compared to just 22 new approvals in all of 2016.The iShares NASDAQ Biotechnology Index ETF and the SPDR S&P Biotech ETF have posted year-to-date gains of 10.49 and 20.39 percent, respectively, compared to gains of 7.45 percent and 8.51 percent for the Dow Jones Industrial Average and the S&P 500 Index.

RDI Initiates Coverage on:

Exelixis, Inc.
https://ub.rdinvesting.com/news/?ticker=EXEL

Opko Health Inc.
https://ub.rdinvesting.com/news/?ticker=OPK

Exelixis' shares gained 2.86 percent to close at $19.80 a share on Monday. The stock traded between $18.25 and $19.85 on volume of 4.08 million shares traded. On June 12th, the company announced the initiation of the dose-escalation stage of a phase 1b trial of cabozantinib in combination with atezolizumab in patients with locally advanced or metastatic urothelial carcinoma (UC) or renal cell carcinoma (RCC). Shares of Exelixis have gained approximately 32.8 percent year-to-date.

"There is a strong rationale for combining cabozantinib with immunotherapies, including clinical and preclinical observations consistent with the ability of cabozantinib to promote an immuno-permissive environment, which might present an opportunity for synergistic effects from combination treatment with immune checkpoint inhibitors and other immuno-oncology agents," said Gisela Schwab, M.D., President, Product Development and Medical Affairs and Chief Medical Officer, Exelixis. "We are excited to evaluate the combination of cabozantinib plus atezolizumab and look forward to the determination of a recommended phase 2 dose and to further examining this combination regimen to treat advanced cancers."

Access RDI's Exelixis Research Report at:
https://ub.rdinvesting.com/news/?ticker=EXEL

Opko Health's shares increased 2.51 percent to close at $6.54 a share on Monday. The stock traded between $6.36 and $6.60 on volume of 3.39 million shares traded. On June 7th, the company announced that GeneDx, a business unit of OPKO's BioReference Laboratories division, has extended its relationship with the University of California Health (UC Health) for genetic, genomic, and molecular testing services. Shares of Opko Health have fallen approximately 29.68 percent year-to-date.

"The foundation of precision medicine is precision diagnostics, and through this relationship with OPKO's GeneDx, our customers at UC Health will not just better understand disease, but will close the gap between data and diagnosis to help ensure good outcomes for individuals and their communities," said Gregory S. Henderson, MD, PhD, President of BioReference Laboratories. "UC Health already provides some of the best thinking in the country on the use of diagnostic tools in clinical genomics and precision medicine. Whole Exome Sequencing and other clinical services offered by GeneDx will give UC Health's world class doctors, genetic counselors and other clinicians actionable insight into some of the most pressing health challenges faced by their patients and could expand the potential for their research to produce good outcomes."

Access RDI's Opko Health Research Report at:
https://ub.rdinvesting.com/news/?ticker=OPK

Our Actionable Research on Exelixis, Inc. (NASDAQ: EXEL) and Opko Health Inc. (NASDAQ: OPK) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Hemal K. Gandhi, CFA® charter holder. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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SOURCE: RDInvesting.com