Cash and cash equivalents, short-term and long-term marketable securities, investments held by Symphony Evolution, Inc. (a consolidated clinical development financing vehicle) and restricted cash and investments totaled $297.6 million at September 30, 2007, compared to $263.2 million at December 31, 2006.
Q3 2007 Business Highlights
* In mid-September, we submitted a data report for XL880 to our partner
GlaxoSmithKline (GSK), which had requested an accelerated review of
XL880. GSK has 90 days from the date of submission of the data report
for XL880 to determine whether it will select XL880 for further
clinical development and commercialization.
* We presented encouraging data from a phase 2 proof-of-concept trial of
XL647 as first-line therapy for non-small cell lung cancer (NSCLC) at
the IASLC World Conference on Lung Cancer in Seoul, South Korea. On
October 24, 2007, we presented updated data from this same trial at
the AACR-NCI-EORTC Conference, where investigators reported that over
68% of evaluable patients had a clinical benefit. Out of 34 evaluable
patients, there were 10 partial responses and 13 cases of stable
disease. Responses were observed in patients with and without
activating EGFR mutations, and the compound was generally well
* We retained the right to develop and commercialize XL647 after GSK
declined its option to further develop the compound. Having clarified
ownership of the compound, we have begun an aggressive development
program that calls for pivotal trials of XL647 to be initiated in the
first half of 2008.
* We ex
|SOURCE Exelixis, Inc.|
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