Biotechnology company Exelixis (NASDAQ:IMGN) is teaming up with Gilead Sciences (NASDAQ:GILD) to evaluate the safety and anti-leukemia activity of pivekimab in combination with magrolimab for the treatment of relapsed or refractory CD123 positive acute myeloid leukemia (AML).
AML is the leading cause of leukemia-related deaths in the U.S. as well as Europe. The collaboration will initiate a new cohort in IMGN’s 802 study in 2023.
The primary endpoint for the cohort is complete response rate.
The Street has a Moderate Buy consensus rating on the stock alongside an average price target of $11.86.
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