Stock Alert: Exelixis Up 4%

(RTTNews) - Shares of Exelixis, Inc. (EXEL) are rising more than 4 percent or $1.01 in Friday's morning trade at $25.19 despite the absence of any stock-specific news.

U.S. stocks opened near the flatline on Friday after Gilead Sciences Inc. said that based on new data, its coronavirus treatment candidate remdesivir was associated with an improvement in clinical recovery and a 62 percent reduction in the risk of mortality compared with standard of care.

Alameda, California-based Exelixis is on oncology-focused biotechnology company.

The stock has traded in a range of $13.67 to $27.80 in the past 52 weeks.