With stocks hitting new highs again today, it’s always nice to find a stock that isn’t overvalued. Exelixis, Inc. (NASDAQ:) is one such stock. The company’s lead molecule, cabozantinib, offers treatment for numerous indications, which makes this an intriguing pick. Investors looking for value stocks should take notice.Exelixis, Inc. (EXEL) is a biopharmaceutical firm that discovers, develops, and commercializes cancer treatments. Its lead molecule cabozantinib is indicated for the treatment of patients with metastatic medullary thyroid cancer and advanced renal cell carcinoma. It is also approved for kidney cancer, hepatocellular carcinoma, and liver cancer.
Cabozantinib has been a big money maker. For instance, the uptake of Cabometyx, a tablet formulation of cabozantinib, to treat patients with advanced renal cell carcinoma who have received prior anti-angiogenic therapy, has been very strong.
The drug’s label was also expanded to treat previously-untreated, advanced renal cell carcinoma. This has significantly boosted demand for the drug. In fact, kidney cancer is one of the most commonly diagnosed forms of cancer in both men and women, and renal cell carcinoma is the most common form of kidney cancer in adults.
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