FDA Accepts Exelixis' NDA for Colorectal Cancer Combo, Boosting Valuation Focus

FDA has accepted Exelixis' New Drug Application for zanzalintinib plus atezolizumab in previously treated metastatic colorectal cancer, marking a significant regulatory milestone for the company. The NDA is supported by pivotal Phase 3 STELLAR-303 trial results, which suggested substantial clinical benefit. Exelixis shares have traded at $43.9 with a 31.1% return over the past year, highlighting the company's oncology focus and potential growth drivers.