What happened
Shares of Exelixis, a biopharmaceutical company focused on the development of therapies to treat cancer, surged 22% in January, according to data from S&P Global Market Intelligence. Two factors can claim responsibility for the bulk of Exelixis’ move higher last month.
So what
To begin with, Exelixis got a double-digit percentage bump on Jan. 9, when it announced an update in its ongoing arbitration dispute with partner Roche over Cotellic, Exelixis’ cancer drug that’s been approved as a combination therapy with Roche’s Zelboraf to treat a specific type of advanced melanoma.
