Exelixis announced in September that it will cut 160 jobs after disappointing results for its lead drug Cometriq (cabozantinib) in prostate cancer. Cometriq is already approved to treat metastatic medullary thyroid cancer. But in a phase 3 comparison study of Cometriq, in men with castration-resistant prostate cancer, the small molecule failed to show a significant increase in overall survival compared with prednisone. Cometriz inhibits multiple tyrosine kinases including MET, VEGFRs and RET.
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Exelixis slashes 70% of staff. Nat Biotechnol 32, 966 (2014). https://doi.org/10.1038/nbt1014-966c
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DOI: https://doi.org/10.1038/nbt1014-966c