BUZZ-Ipsen: Partner Exelixis reports positive phase II results

Tue May 24, 2016 3:33am EDT
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** Shares of French pharma co rise c. 4 pct, set for best day in 3 mo

** Ipsen partner Exelixis reports positive top-line results from Cabosun phase II trial of Cabozantinib

** In Feb., Ipsen and Exelixis signed an exclusive licensing agreement to commercialize the drug outside the U.S., Canada and Japan

** Brokerage Bryan Garnier says approval for phase III trial looks possible; lifts PT by 17 pct to EUR 63

** Stock top performer on Europe's pharma and healthcare index