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Fly News Breaks for July 15, 2019
EXEL
Jul 15, 2019 | 12:08 EDT
Piper Jaffray analyst Edward Tenthoff reiterated an Overweight rating and $45 price target on Exelixis, saying he is "confident" in CABO growth with net product sales forcast of $200M in Q2, $842M for FY19, and $1.08B in FY20. The analyst's note, titled Cabometyx I-O Combo Opportunity Grows in Phase Ib COSMIC-021 Study,' comes after the company announced new protocol updates to Phase Ib COSMIC-021 trial of Cabometyx + Tecentriq, which were spurred by "encouraging early efficacy and safety data in advanced NSCLC and mCRPC cohorts."
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