Exelixis (NASDAQ: EXEL) shares dropped 34.9% to $4.20 after the company issued an update on ongoing COMET-1 phase 3 pivotal trial in men with metastatic castration-resistant prostate cancer. Stifel Nicolaus lowered the price target on the stock $11.00 to $9.00. Share volume was 13.3 million, compared to an all-day average of 3.3 million
