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Fly News Breaks for September 21, 2018
IPSEY, EXEL
Sep 21, 2018 | 10:37 EDT
After Ipsen (IPSEY) announced a positive CHMP decision for Cabometyx as a monotherapy for the treatment of hepatocellular carcinoma, Piper Jaffray analyst Edward Tenthoff noted that Exelixis (EXEL) is eligible for tiered royalties of 22-26% after $100M in sales of the drug in Europe. He expects final EMA approval in coming months and also expects the FDA to approve Cabometyx in liver cancer by the January 14 PDUFA date, Tenthoff tells investors. He reiterated an Overweight rating and $29 price target on Exelixis shares.
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