Astronomers have grown very cautious over the years about predicting
which comets will brighten the night skies, as all too many have failed
to live up to expectation. Small biotech Exelixis' (NASDAQ: EXEL )
own comet, the COMET-1 study of cabozantinib in metastatic
castration-resistant prostate cancer, likewise has failed to live up to
the most optimistic hopes. Although the stock's 25% drop on Wednesday
may seem like an overreaction, the reality is that the company badly
needed a winner and the absence of an early halt due to efficacy
suggests that the company could face a tough battle in getting market
share in the prostate cancer space.
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Exelixis Inc's Comet Fails To Dazzle
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