Exelixis, Inc. (NASDAQ:EXEL) lost 8.09% by the end of recent close at $ 5.61. The percentage change in the price over the last fifty two weeks remained 67.96%. The price range in those 52 weeks had a highest hit of $ 6.80 while lowest level in that period was $ 3.04. Latest closing price was 30.81% above its 50-day moving average and 10.41% below its 200-day moving average.
On May 4, 2016 Exelixis, Inc. (EXEL) reported financial results for the first quarter of 2016 and provided an update on progress toward delivering upon its key 2016 corporate objectives and clinical development milestones.
Corporate Updates and Key Priorities for 2016
On April 25, 2016, the U.S. Food and Drug Administration (FDA) approved CABOMETYX™ (cabozantinib) tablets as a treatment for patients with advanced renal cell carcinoma (RCC) who have received prior anti-angiogenic therapy. With approval granted, Exelixis is highly focused on the U.S. commercial launch for CABOMETYX. CABOMETYX was shipped to wholesalers and pharmacies within three days of approval, with the first prescription filled on April 28, 2016. The European Medicines Agency (EMA) is reviewing the company’s Marketing Authorization Application (MAA) for cabozantinib for advanced RCC; assuming approval, the product would be marketed in the EU by the company’s corporate partner, Ipsen Pharma SAS (Ipsen).
Shares of Keryx Biopharmaceuticals (NASDAQ:KERX) traded up 3.38% in last trading session to close the session at a price $ 5.36 share. With an average trading capacity of 1.49Mshares, the number of shares traded in most recent session was 1,080,400 shares. Its previous 52-week high was $-51.80 and moved down 91.43% over the same period, currently having a market cap around $566.28M. Shares have added 3.68% over the trailing 6 months. The stock presently trades 7.78% below its SMA 50 and 12.69% below its SMA 200.
On April 28, 2016 Keryx Biopharmaceuticals Inc. (KERX) announced its financial results for the first quarter ended March 31, 2016.
“In March, our recently expanded and fully trained field team began calling on physicians, dietitians and the entire dialysis care team to enhance awareness of Auryxia and drive increased adoption,” said Greg Madison, chief executive officer of Keryx Biopharmaceuticals. “Through the expansion of our field team, we are able to increase the reach and frequency of contact with the treating community, and I am confident that with their efforts we will continue to increase uptake of Auryxia in people with chronic kidney disease (CKD) on dialysis.”
Mr. Madison continued, “In the first quarter, we announced positive top-line results from our pivotal Phase 3 study evaluating ferric citrate in people with non-dialysis dependent CKD struggling with iron deficiency anemia (IDA). These results bring us one step closer to treating another important complication of CKD. The rapid, durable and significant responses observed with ferric citrate in the study were a major milestone for Keryx and confirmed the unique attributes of ferric citrate’s mechanism of action, which delivers iron orally through the body’s natural absorption process. As we look ahead, our top priorities for this year are to increase adoption of Auryxia in the dialysis setting, submit a regulatory application seeking label expansion, and prepare for potential launch in 2017 in the new indication.”