Core Insights - Exelixis, Inc. announced results from a subgroup analysis of the CABINET phase 3 pivotal trial evaluating CABOMETYX® (cabozantinib) against placebo in patients with previously treated advanced neuroendocrine tumors (NET) originating in the lungs or thymus [1] Group 1 - The data from the trial will be presented at the 2025 European Society for Medical Oncology Congress (ESMO) during the Monday Poster Session: Neuroendocrine Tumours on October 20, 2025, from 12:00 – 12 [1]

Group 1: Axsome Therapeutics - Axsome Therapeutics is a mid-cap biotech company with three products on the market: Auvelity, Symbravo, and Sunosi, driving strong revenue growth, with a 72% year-over-year increase to $150 million in Q2 [3][4] - The launch of Symbravo in June presents a significant growth opportunity, targeting a market of 39 million migraine patients in the U.S., where over 70% have inadequate responses to current treatments [4][5] - Auvelity shows promise in treating agitation associated with Alzheimer's disease, with a potential market of 7 million patients, and is on track to achieve blockbuster status [5][6] - The company is advancing its pipeline with AXS-12 for narcolepsy and other late-stage trials, positioning itself for continued revenue growth and market outperformance [6] Group 2: Exelixis - Exelixis specializes in oncology, known for its drug Cabometyx, which treats liver and kidney cancers and continues to drive revenue growth despite a reported 11% drop in total revenue to $568.3 million due to lower collaboration revenue [7][8] - Net product revenue for Exelixis increased by 19% year-over-year to $520 million, with Cabometyx expected to maintain strong sales through early 2030, fending off generic competition [8][9] - The company is focused on developing cancer therapies for high unmet needs, with its candidate zanzalintinib showing promise in metastatic colorectal cancer, which could address a significant treatment gap [9][10] - Exelixis has additional candidates in its pipeline, and strong clinical progress alongside Cabometyx's revenue growth is expected to yield strong returns through the end of the decade [10]

Exelixis, Inc. (NASDAQ:EXEL) ranks among the most undervalued NASDAQ stocks to buy now. On September 17, Barclays began coverage of Exelixis, Inc. (NASDAQ:EXEL), rating it Equalweight and setting a price target of $40 on the company’s shares. The firm forecasts cabozantinib, Exelixis’ major value driver, will climb in the mid-single digits until its patent expires in 2029. Photo by National Cancer Institute on Unsplash Barclays predicts overall revenue for 2029 to be around 8% lower than consensus, owin ...

Exelixis, Inc. (NASDAQ:EXEL) is among the Renaissance Technologies Portfolio: 10 Biggest Stocks. On September 17, Morgan Stanley raised the stock’s price target to $50 from $46, while maintaining an Overweight rating for its shares. Morgan Stanley Maintains Overweight Rating For Exelixis, Inc. (EXEL), Price Target Raised To $50 Stock market data showing an upward trajectory. Photo by Burak The Weekender on Pexels In a research note to investors, the analyst noted that Zanzalintinib presents a significan ...

PresentationCourtney BreenSanford C. Bernstein & Co., LLC., Research Division Fantastic. Hi, everyone. Thank you so much for being here today. For those of you that don't know me, my name is Courtney Breen, I cover large-cap biopharma here at Bernstein. I have spent a little while covering a lot of different companies, but my experience before being here was at Merck and spending a lot of time thinking about oncology. So I'm looking forward to this conversation today and getting to chat about kind of the wo ...

Summary of Exelixis Conference Call Company Overview - Exelixis is a commercial-stage biotech company focused on oncology, particularly in renal cell carcinoma (RCC) with its flagship drug, cabozantinib (Cabo) [8][9] - The company has evolved significantly, now having seven different indications for Cabo and being the leading tyrosine kinase inhibitor in kidney cancer [9][10] Key Products and Pipeline - Cabo has a patent expiry in 2031, and the company is working on Zanzalintinib, which is in phase three trials, as a follow-up innovation [12] - The pipeline includes a variety of assets across different modalities and mechanisms of action, with a focus on building multiple franchises [11][12] Strategic Focus - The primary goal is to improve the standard of care for cancer patients, which is essential for gaining traction with prescribers and payers [13][14] - The company aims to manage the transition from Cabo to Zanzalintinib without cannibalizing Cabo's market share [15][16] Financial Discipline - Exelixis maintains a disciplined approach to R&D spending, committing to approximately $1 billion annually while ensuring free cash flow for other investments [16][22] - The company emphasizes the importance of capital allocation and avoiding high-risk, low-reward mergers and acquisitions [22][24] Market Dynamics - The oncology market is evolving, with the potential for the kidney cancer market to grow from $3-4 billion to over $10 billion due to improved patient outcomes [18][19] - The launch of Cabo in neuroendocrine tumors (NETs) is progressing well, with expectations for market share growth similar to that seen in renal cancer [26][30] Competitive Landscape - Exelixis competes with major pharmaceutical companies like Bristol Myers Squibb, Merck, and Pfizer in the oncology space [31] - The company leverages a nimble and intense sales and marketing organization to effectively compete against larger players [33][34] Clinical Collaborations - Exelixis has established clinical collaborations, such as with Merck for Zanzalintinib, to enhance trial success without sharing commercial rights [51][52] - The company has a history of successful collaborations that have significantly contributed to its growth [52] Future Directions - The company is focused on expanding its pipeline and exploring new indications, including colorectal cancer and meningioma, based on early data from Cabo [41][42] - Exelixis aims to maintain its momentum and adapt to the evolving landscape of oncology while ensuring that patient outcomes remain the priority [66][70] Conclusion - Success for Exelixis is defined by its ability to improve patient outcomes, expand its market presence, and maintain a balance between being a small, agile company and scaling its operations effectively [69][70]

Group 1 - Goldman Sachs initiated coverage of Exelixis (NASDAQ:EXEL) with a Buy recommendation [2] - The target price set by Goldman Sachs for Exelixis is $47 [2] - The recommendation is based on the potential of zanzalintinib to mitigate the upcoming patent cliff for Cabometyx, Exelixis's kidney cancer drug [2]

Company Overview - Exelixis has been established for over 25 years and is primarily known for its product CABOMETYX [2] - CABOMETYX was launched for second-line renal cell carcinoma (RCC) in spring 2016 and has since expanded to include 7 to 8 different indications, primarily in RCC and recently in neuroendocrine tumors, which was launched in the second quarter of this year [2]

Exelixis FY Conference Summary Company Overview - Exelixis has been operational for over 25 years, primarily focusing on oncology - The main product is CABOMETYX, launched in 2016 for second-line renal cell carcinoma (RCC) with additional indications added over time, including neuroendocrine tumors (NET) launched in Q2 2025 - The company has approximately 1,000 to 1,100 employees and is based in Alameda, California - Exelixis is developing Zanzalintinib (Zanza), another TKI, across various indications, aiming to treat more cancer patients and build value [4][7][10] Financial Guidance and Market Position - Aspirational revenue guidance for CABOMETYX is projected at around $3 billion by 2030, with current revenue guidance for the year at approximately $2.1 billion [10][11] - CABOMETYX has achieved a 35% market share for new patient starts, contributing about $20 million in revenue in Q2 2025 [10] - Long-term revenue potential for Zanza is estimated at $5 billion by 2033, coinciding with the expected decline in CABOMETYX revenue due to loss of exclusivity [11][12] Clinical Development and Pipeline - Zanza is designed to maintain the efficacy of CABOMETYX while addressing its long half-life, which can complicate patient management [14][15] - Five pivotal studies for Zanza are currently ongoing or planned, including: - STELLAR-303: Combination of Zanza and atezolizumab in third-line colorectal cancer (CRC) - STELLAR-304: Zanza and nivolumab in non-clear cell RCC - STELLAR-311: Zanza versus everolimus in NET [15][18][19] - The company aims to establish Zanza as a franchise similar to CABOMETYX, focusing on multiple indications [18] Strategic Focus and Prioritization - Exelixis emphasizes a franchise approach to build and create value, investing in areas with high market potential [22][41] - The company has committed to keeping R&D expenses below $1 billion, prioritizing investments based on potential returns [44] Emerging Opportunities - The company is exploring the post-adjuvant setting in CRC, where patients are at high risk of recurrence but currently face a "watch and wait" standard of care [22][43] - Exelixis is also developing a USP-1 inhibitor and a tissue factor-targeted ADC (SP-371), with a focus on differentiating these products from competitors [48][50] Conclusion - Exelixis is strategically positioned in the oncology market with a strong pipeline and a focus on maximizing the potential of its lead products, CABOMETYX and Zanza, while exploring new therapeutic avenues to enhance patient outcomes and drive revenue growth [4][10][11][12]

Company Overview - Exelixis is a commercial stage biotech company focused on oncology, with strong revenue growth attributed to its lead product, CABOMETYX [5]. - CABOMETYX, known generically as cabozantinib, is a leading VEGFR targeting TKI that addresses both primary tumor growth and resistance [5]. Product Information - CABOMETYX has been on the market for over 10 years and has received approvals for 7 to 8 different indications [5].