Yesterday, Rule Breakers pick Exelixis
Not unexpectedly, Exelixis spent a large part of the meeting on its two most promising drug candidates -- XL647 and XL880. After successful phase 2 testing earlier in the year, XL647 wasn't picked up by partner GlaxoSmithKline
Among drugs in earlier stages of development, Exelixis expects to put two oncology-targeted compounds and one candidate for metabolic disease into later-stage preclinical testing in the first half of next year.
Three discovery-stage compounds developed in partnership with Bristol-Myers Squibb
During the conference call, Exelixis didn't give its cash-burn guidance for 2008, but it expects to hear back about whether partners like Glaxo and Genentech
One interesting little piece of news was that Exelixis is running laboratory tests on some of its multi-targeted drugs together in combination therapy. One of the reasons Exelixis exists is that its multi-kinase targeting drugs would be more effective than competitors' therapies that attack only a single cancer target, so I guess Exelixis' thinking was that combination drugs made up of its products that already target more than one kinase would make a super cancer-fighting combination. We'll have to wait and see what safety issues such broadly targeted therapies have, though.
Nothing dramatic is set to happen to Exelixis in 2008. No pivotal phase 3 studies will be completed, and there are no Food and Drug Administration marketing decisions to wait for (probably a good thing, considering the state of the agency today). But just like this year, we'll likely get to watch another year of Exelixis' pipeline maturing nicely, with numerous early-stage data sets to mull over.
More Foolishness on drug developers: