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Author: marsuculix One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 657  
Subject: EXEL @ J.P. Morgan Conference Date: 1/10/2013 6:38 AM
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Dear fellow fools,
here is the link to the transcript of Dr. Morissey (CEO) presentation:

http://seekingalpha.com/article/1104071-exelixis-ceo-present...

IMO the call was not very focused and the vast majority of information presented is redundant...

Summary of main points and quotes:

1. The MTC approval was not a transformational event for the company.

2. The company believes that cabozantinib COMETRIQ has the ability to be a franchise in the oncology setting.

3. Exelixis owns the compound right and is trying to maximize the value and really define the boundary conditions for the compound in terms of where the company sees activity late line, early line, combination, single agent of different parameters across a variety of different tumor indications.

4. Financing the development of the cabo-franchise:
<< Obviously, we’re doing a lot here, we -- again we own the compound. We are doing all the work ourselves. This certainly requires a strong financial component of the company to move forward. We did a large fund raising last year that provides us with I think a very strong position, so as we look at company going forward, we really taken that very lot of the equation so we can focus on executing and really making sure we’re doing all that we can as fast as we can to be able to build value with the compound and this vision of cabozantinib as a franchise...... And then to advance our clinical trial program in prostate cancer initiate in advance pivotal trials in liver cancer and renal cancer and then obviously continue to expand the depth and breadth of our Phase 2 program either we sponsor ourselves through our collaboration with the NCI in their CTEP programs.>>

5. Commercializing of COMETRIQ in MTC: <<We’re using as much outsourcing as we can to effectively market and sell the drug.>>
COMETRIQ will be launched in the very near future: <<... we’re going to have five reps in place to start the -- we've done a very careful analysis of the metastatic MTC market. By our view, our analysis, there is approximately 500 to 700 patients annually that are drug eligible.>>
Why is COMETRIQ not yet launched 1 month after approval??

6. The product: <<We have a capsule configuration, selling three different doses that are flat priced at $9900 per 28-day supply. We have capsules in 80 milligrams strengths and 20 milligram strengths and we also have then those three different dosages at 140 milligrams, 100 milligrams and 60 milligrams daily.>>

7. Prostate cancer: <<We’re very excited about the opportunity we have in prostate cancer and had a lot of success there over the last several years. But the truth of the matter is we haven’t cured anybody with metastatic disease yet...... And we’re able to recapitulate the overall response rate, the durability of response and then see it has a ratio in the standpoint of progression-free survival of 0.28 really I think is indicative of taking that approach with some of the low hanging fruit from the patient’ point of view where we think we've got striking data.>>

8. Clinical development program: Exelixis plans to start trials in RCC and HCC still this year. Overall more than 30 trials in Phase 1, Phase 2 area are either ongoing or planned, covering both ISTs and CTEP.


... not much news indeed, fool on,
marsuculix
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