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.
→ Aimmune Therapeutics $AIMT announced a collaboration with Regeneron and Sanofi to study AR101 treatment with adjunctive dupilumab in peanut-allergic patients in a Phase II clinical trial. Regeneron will sponsor the trial, with Aimmune to provide clinical supply of AR101 and food challenge materials.