The FDA grants a priority review designation to Exelixis' (EXEL +8.6%) cabozantinib treatment...

The FDA grants a priority review designation to Exelixis' (EXEL +8.6%) cabozantinib treatment for medullary thyroid cancer and set an action date of November 29. In preclinical studies, cabozantinib killed tumor cells, lowered metastases, and inhibited the formation of the new blood vessels needed to support tumor growth. (PR)