On Friday, Shares of Exelixis, Inc. (NASDAQ:EXEL), lost -2.33% to $5.45.
Exelixis, declared the presentation of positive overall survival (OS) results from coBRIM, the phase 3 pivotal trial evaluating COTELLIC™ (cobimetinib) in patients with formerly untreated resectable, locally advanced or metastatic melanoma carrying a BRAF V600E or V600K mutation, in combination with vemurafenib. Dr. Victoria Atkinson, Medical Oncologist at Princess Alexandra Hospital, Queensland, Australia, presented the data during a late-breaking abstract oral presentation this afternoon at the Society for Melanoma Research (SMR) 2015 International Congress, which is being held November 18-21 in San Francisco. COTELLIC is a selective inhibitor of MEK that was discovered by Exelixis and is now the subject of a worldwide partnership agreement between Exelixis and Genentech, a member of the Roche Group.
In October 2015, Exelixis declared the coBRIM trial met its OS secondary endpoint, demonstrating a statistically noteworthy improvement in OS for the combination of COTELLIC and vemurafenib contrast to vemurafenib monotherapy. Recently’s presentation was the first to comprise detailed data on the endpoint. The median OS was 22.3 months for the combination of COTELLIC and vemurafenib as compared to 17.4 months for vemurafenib alone, corresponding to a 30% reduction in the rate of death for the combination as contrast to vemurafenib alone (hazard ratio [HR]=0.70, 95% confidence interval [CI] 0.55-0.90, p= 0.005). Ongoing study monitoring did not identify any new safety signals.
“The overall survival benefit for COTELLIC and vemurafenib observed in the coBRIM trial further underscores the positive impact that the combination of these two therapies can have on the treatment of advanced BRAF V600 mutation-positive melanoma,” said Michael M. Morrissey, Ph.D., president and chief executive officer of Exelixis.
Exelixis, Inc., a biopharmaceutical company, develops and sells small molecule therapies for the treatment of cancer in the United States. The company offers COMETRIQ, an inhibitor of multiple receptor tyrosine kinases for the treatment of patients with progressive, metastatic medullary thyroid cancer.
Shares of Youku Tudou Inc (ADR) (NYSE:YOKU), inclined 0.37% to $26.80, during its last trading session.
Youku Tudou, declared its unaudited financial results for the third quarter 2015.
Third Quarter 2015 Results
- Net revenues were RMB1.85 billion (US$291.8 million) in the third quarter of 2015, a 62% improvement from the corresponding period in 2014. Non-GAAP net revenues were RMB1.70 billion (US$267.6 million) in the third quarter of 2015, a 54% improvement from the corresponding period in 2014, meeting the non-GAAP net revenues guidance formerly declared by the Company.
- Advertising net revenues were RMB1.35 billion (US$212.2 million) in the third quarter of 2015, a 37% improvement from the corresponding period in 2014, meeting the advertising net revenues guidance formerly declared by the Company. The growth was primarily attributable to the raised use by brand advertisers of our advertising services as evidenced by an improvement in the number of advertisers and the rising average spend per advertiser.
Youku Tudou Inc. operates as an Internet television company in the People’s Republic of China. Its Internet television platform enables users to search, view, and share video content across various devices.
Finally, Shares of FX Energy, Inc. (NASDAQ:FXEN), ended its last trade with -1.75% loss, and closed at $1.12.
FX Energy, declared that Kiwi Acquisition Corp. (“Merger Sub”), a wholly-owned partner of ORLEN Upstream Sp. z o.o. (“ORLEN Upstream”), has extended the expiration of its formerly declared tender offer (the “Tender Offer”) for all outstanding shares of common stock of the Company. The Tender Offer is being made following an Offer to Purchase dated October 27, 2015 (the “Offer to Purchase”) and under the terms and conditions of the formerly declared Agreement and Plan of Merger dated as of October 13, 2015 CET (October 12, 2015 MST) (the “Merger Agreement”) among the Company, ORLEN Upstream and Merger Sub.
The Tender Offer, formerly planned to expire at 12:01 a.m., Eastern Time, on Wednesday, November 25, 2015, will now expire at 12:01 a.m., Eastern Time, on Saturday, December 5, 2015 (unless further extended in accordance with the terms of the Merger Agreement). The Tender Offer is being extended to allow for limited expedited discovery and to accommodate the Court’s calendar in a putative class action lawsuit (Richards v. FX Energy, Inc. et al.) originally filed on October 19, 2015 on behalf of stockholders of the Company in the Eighth Judicial District Court of Clark County, Nevada against the Company, each member of the board of directors of the Company, ORLEN Upstream and Merger Sub, as revealed in the Solicitation/Recommendation Statement on Plan 14D-9 (as amended, the “Plan 14D-9”) regardingthe Tender Offer filed by the Company with the Securities and Exchange Commission (the “SEC”). Except for the extension of the Tender Offer, all other terms and conditions of the Tender Offer remain unchanged.
FX Energy, Inc., an independent oil and gas exploration and production company, produces, explores, and develops oil and gas properties in the United States and Poland. The company primarily focuses on the exploration of Rotliegend sandstones in the Permian Basin, Poland.