Exelixis Continues On

Exelixis' shares got hammered after announing that it was continuing a clinical trial testing Cometriq in prostate cancer. Investors seem to be worried about how well Cometriq might compete with drugs from Johnson & Johnson and Medivation, assuming it's successful when final data is revealed.

Mar 31, 2014 at 7:42PM

Shares of Exelixis (NASDAQ:EXEL) got hit hard last week after the company said its clinical trial testing Cometriq in prostate cancer would continue. While the continuation of a trial would normally be a non-event -- we'll get the final data before the end of the year -- investors were clearly hoping that the drug would work so well that the trial would be stopped early.

While the trial could still prove successful on the final look at the data, some of the stock price decline is warranted because how well Cometriq works will ultimately determine how well the drug competes against Johnson & Johnson's (NYSE:JNJ) Zytiga and Medivation (NASDAQ:MDVN) and Astellas' Xtandi.

In the following video, Fool contributor Brian Orelli and health-care bureau chief Max Macaluso discuss what the news means for Exelixis, Johnson & Johnson, Medivation, and Astellas.

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Brian Orelli has no position in any stocks mentioned. Max Macaluso owns shares of Exelixis. The Motley Fool recommends and owns shares of Exelixis and Johnson & Johnson. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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