Exelixis (EXEL) Up After Disclosing Nov. 9 AdCom, Nov. 29 PDUFA

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Exelixis, Inc. (Nasdaq: EXEL) is trading 3 percent higher in pre-open trading Thursday after disclosing that that FDA's Oncologic Drugs Advisory Committee will review the Company’s new drug application for cabozantinib as a treatment for patients with progressive, unresectable, locally advanced, or metastatic medullary thyroid cancer. The Company was notified that ODAC will review cabozantinib at its meeting tentatively scheduled for November 9, 2012. The Prescription Drug User Fee Act (PDUFA) action date is November 29, 2012.

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