Stock Alert: Exelixis Stock Up 19% In Premarket

(RTTNews) - Shares of Exelixis Inc. (EXEL) are soaring over 19% in pre-market today, after the company and Bristol Myers Squibb (BMY) announced that CheckMate -9ER, a pivotal Phase 3 trial evaluating Opdivo (nivolumab) in combination with CABOMETYX (cabozantinib) compared to sunitinib in previously untreated advanced or metastatic renal cell carcinoma or RCC, met its primary endpoint of progression-free survival or PFS at final analysis, as well as the secondary endpoints of overall survival at a pre-specified interim analysis, and objective response rate.

The safety profiles of Opdivo and CABOMETYX observed in the trial reflect the known safety profiles of the immunotherapy and tyrosine kinase inhibitor components in first-line RCC.

The stock has been trading in the range of $13.67 - $23.00 for the past one year, and closed Friday's trade at $19.44, up 91 cents or 4.91%. EXEL is currently trading at $23.15, up $3.71 or 19.08% in the pre-market trading session.