Exelixis Announces Data From Zanzalintinib+Atezolizumab Study, Stock Drops In Pre-Market

(RTTNews) - Exelixis, Inc. (EXEL), Monday announced data from STELLAR-303, evaluating zanzalintinib in combination with atezolizumab versus regorafenib for patients with metastatic colorectal cancer.

The combination therapy improved median overall survival to 10.9 months versus 9.4 months with regorafenib, and significantly reduced the risk of death by 20 percent in the intention-to-treat population.

The 12- and 24- month survival rate was 46 percent and 20 percent, respectively, for those receiving the combination therapy compared to 38 percent and 10 percent, respectively, for those on regorafenib.

The safety profiles of zanzalintinib in combination with atezolizumab and of regorafenib were generally consistent with previous observations.

"While treating non-MSI-high metastatic colorectal cancer remains a challenge, the combination of zanzalintinib and atezolizumab has shown consistent benefits across key subgroups of patients," said lead investigator Anwaar Saeed.

The company further shared its intention to submit its first new drug application for zanzalintinib before the year end.

In the pre-market hours, EXEL is moving down 8.28 percent, to $36 on the Nasdaq.