Mar. 2 at 8:20 PM
Merck announced that its dual oral regimen Welireg (belzutifan) plus Lenvima (lenvatinib) outperformed Cabometyx (cabozantinib) from Exelixis in the Phase 3 LITESPARK-011 trial for advanced renal cell carcinoma.
The combination reduced the risk of disease progression or death by 30% versus Cabometyx, showing statistically significant improvement in progression-free survival. Exelixis shares fell as much as 9.9%, their biggest drop since October.
Analysts said the data exceeded expectations. UBS noted the results pose near-term downside risk for Cabometyx if the filing is accepted, potentially replacing it in the second-line setting. RBC Capital Markets cut its price target on Exelixis to
$43 from
$46, citing competitive pressure. Stifel added that the strong efficacy could erode Cabometyx’s second-line market share and further complicate the treatment landscape.
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