Exelixis Up After Merck Pact Focuses Attention on Cancer Study
Exelixis shares rose 2.5% to $49.89 Wednesday after announcing Merck will supply Keytruda Qlex for its planned phase 3 STELLAR-316 colorectal cancer trial. The company also highlighted a $750 million buyback and a December 3 FDA decision date for zanzalintinib. Exelixis’ market value reached about $13.3 billion.