Exelixis Gets FDA Approval for Cabometyx in Combination Therapy for Front-Line RCC

Exelixis (NASDAQ: EXEL) is charging into the weekend on a high note. On Friday, the company announced that the Food and Drug Administration approved its drug Cabometyx (also known as Cometriq) for first-line treatment of patients with advanced renal cell carcinoma (RCC), in combination with Bristol Myers Squibb's (NYSE: BMY) Opdivo.

The approval is a big win for Exelixis, as RCC is the most common form of kidney cancer. The company also pointed out that it is among the top 10 most diagnosed cancers in the U.S.

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Source Fool.com