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Exelixis Announces U.S. FDA Approval of CABOMETYX® (cabozantinib) for Patients with Previously Treated Advanced Neuroendocrine Tumors

1. FDA approved CABOMETYX for pancreatic neuroendocrine tumors in adults and pediatrics.

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Why Very Bullish?

The FDA approval enhances EXEL's product portfolio, likely increasing revenue. Similar approvals in the past have positively impacted biotech stocks, driving investor confidence.

How important is it?

The approval is a significant milestone for EXEL, enhancing its market position and investor appeal. Given the relevance of CABOMETYX in treating pNET, this news is crucial for the company's future.

Why Long Term?

The approval opens up new treatment avenues, which may lead to sustained revenue growth. Historical cases show FDA approvals can have lasting positive effects on company performance over years.

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EXELJNJAMGN
ALAMEDA, Calif.--(BUSINESS WIRE)--Exelixis, Inc. (Nasdaq: EXEL) today announced that the U.S. Food and Drug Administration (FDA) has approved CABOMETYX® (cabozantinib) for the treatment of 1) adult and pediatric patients 12 years of age and older with previously treated, unresectable, locally advanced or metastatic, well-differentiated pancreatic neuroendocrine tumors (pNET); and 2) adult and pediatric patients 12 years of age and older with previously treated, unresectable, locally advanced or.

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