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.