Ex­elix­is shares surge on pos­i­tive liv­er can­cer re­sults; Ra­maswamy’s My­ovant banks $140M for PhI­II

→  Shares of Ex­elix­is shot up 19% this morn­ing af­ter re­searchers de­cid­ed to end a study of cabozan­ti­nib ear­ly af­ter see­ing a sta­tis­ti­cal­ly sig­nif­i­cant and clin­i­cal­ly mean­ing­ful im­prove­ment in me­di­an OS com­pared to place­bo in pa­tients with ad­vanced he­pa­to­cel­lu­lar car­ci­no­ma, a com­mon form of liv­er can­cer. Its part­ners at Ipsen un­veiled the re­sults.

→  Roivant’s Vivek Ra­maswamy re­mains a mas­ter at the game of rais­ing funds for biotech re­search. His port­fo­lio com­pa­ny My­ovant $MY­OV just gained an ad­di­tion­al $140 mil­lion, with $100 mil­lion of that in debt and an­oth­er $40 mil­lion for an eq­ui­ty stake. The mon­ey is be­ing used for the Phase III drug re­l­u­golix, which is be­ing test­ed in uter­ine fi­broids, en­dometrio­sis and prostate can­cer. No­vaQue­st Cap­i­tal Man­age­ment and Her­cules Cap­i­tal pro­vid­ed the mon­ey.

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