Dallas, Texas 02/12/2014 (FINANCIALSTRENDS) – There are many reasons which are leading to a rise in the share price of Exelixis, Inc. (NASDAQ:EXEL) that is Exelixis for last 12 months. It is a biotech company that primarily focuses on small molecule treatments for cancer and its share price has risen by almost 70 percent since last one year. This is despite the news that it’s another drug called as Cometriq might not be able to make enough profit in the coming year.
This has lead to many people thinking about what is the reason behind its success. The first and the foremost reason that is seen are the additional approvals that could unlock the Cometriq’s true value and the second reason is seen as the possible European approval in 2014. The third main reason behind this upsurge is some major collaborations coming their way.
An Overview of the Company
Exelixis is a biotech company that invests heavily into the development of drug known as cabozantinib which is considered as dual inhibitor of VGEF and MET receptors. This is the same receptor protein which was discovered in 1980s and is found to be quite less active in the later stages of human’s life.
During the last trading session Exelixis, Inc. (NASDAQ:EXEL) managed to keep its gain at 0.97 percent and a below normal average volume of shares were traded. The total amount of shares that were traded were 2.85 million and finally the stock closed at around $7.27 and for the entire day it floated between the range of $7.02 and $7.39. If we talk about the current market capitalization of this stock then it comes out to be around $1.41 billion. The 52 week high of this stock is $8.41 and its 52 week low is around $4.32.