Commercial RisksRisks include commercial risk regarding Cabometyx, failure to generate favorable clinical data, and the threat of generic erosion.
Market ChallengesWhile renal cancer represents the largest market, the zanza forecast remains skewed to other tumor markets that are more niche and less de-risked.
Risk AsymmetryLong-term Street forecasts for Zanza are $1-2bn vs EXEL guidance of around $5bn, possibly introducing risk asymmetry.