Since my January 2024 article, Exelixis, Inc. (NASDAQ: EXEL ) has appreciated significantly. I believe this has been mostly due to Cabometyx’s continued success and its pipeline’s strategic progress. EXEL aims to become a genitourinary [GU] and gastrointestinal [GI] oncology leader. Its leading product is Cabometyx, aMy name is Myriam Hernandez Alvarez. I received the Electronics and Telecommunication Engineering degree from the Escuela Politecnica Nacional, Quito, Ecuador, the M.Sc. degree in computer scie ...

Core Insights - Exelixis, Inc. (EXEL) reported better-than-expected third-quarter results, with shares rising post-announcement [1][2] - The company recorded earnings of 47 cents per share, surpassing the Zacks Consensus Estimate of 42 cents, driven by higher revenues and lower operating expenses [1][2] - Net revenues reached $539.5 million, exceeding the Zacks Consensus Estimate of $491 million, marking a 14.3% year-over-year increase [2] Financial Performance - Net product revenues were $478 million, reflecting a 12.1% year-over-year increase, primarily due to higher sales volume and average net selling price [4] - Cabometyx generated revenues of $475.7 million, beating both the Zacks Consensus Estimate of $439 million and the model estimate of $434.6 million, with a 9% year-over-year growth in prescription volume [5] - Collaboration revenues totaled $61.5 million, up from $45.4 million in the year-ago quarter, driven by increased milestone-related revenues and higher royalty revenues from cabozantinib sales [6] Expense Management - Research and development expenses decreased to $222.6 million, down 33.1% year over year, mainly due to reduced license and collaboration costs [7] - Selling, general and administrative expenses totaled $111.8 million, down 19% year over year, attributed to declines in corporate giving, stock-based compensation, and legal fees [7] Stock Repurchase and Regulatory Updates - The board authorized a stock repurchase of up to $500 million, with $12.4 million repurchased at an average price of $25.61 per share as of September 30, 2024 [8] - Exelixis won a patent litigation case against MSN Laboratories regarding cabozantinib, with the court ruling in favor of Exelixis [9] Pipeline Developments - Management is focused on expanding the label for Cabometyx, with a supplemental new drug application accepted by the FDA for advanced pancreatic NET and extra-pancreatic NET [11] - An sNDA will be submitted for cabozantinib in combination with Tecentriq for metastatic castration-resistant prostate cancer [12] - Enrollment is complete for the STELLAR-303 study evaluating zanzalintinib in combination with Tecentriq for metastatic colorectal cancer, with preliminary results expected in 2025 [13] Revenue Guidance - Total revenues for 2024 are projected between $2.150 billion and $2.2 billion, an increase from previous guidance of $1.975-$2.075 billion [16] - Product revenues are estimated to be in the range of $1.775 billion to $1.825 billion, up from previous guidance of $1.65-$1.75 billion [16] - Research and development expenses are now estimated at $925-$950 million, while selling, general and administrative expenses are projected at $475-$500 million [17] Overall Assessment - Exelixis' third-quarter performance was strong, with both top and bottom lines exceeding estimates, and Cabometyx remains a leading TKI for RCC in the U.S. [18] - The potential label expansion for Cabometyx is expected to boost sales, and the increase in annual guidance is viewed positively [18]

TUESDAY, OCTOBER 29, 2024 Third Quarter 2024 Financial Results Nasdaq: EXEL EXELIXIS® Today's Agenda Introduction Varant Shirvanian Director, Investor Relations Business Update and Q3 2024 Highlights Michael M. Morrissey, Ph.D. President and CEO Financial Results & Guidance Chris Senner EVP and CFO Commercial Update PJ Haley EVP, Commercial Q&A All, joined by: Amy Peterson, M.D. EVP, Product Development and Medical Affairs and CMO Dana T. Aftab, Ph.D. EVP, Discovery and Translational Research and CSO 2 Safe ...

Exelixis, Inc. (NASDAQ:EXEL) Q3 2024 Earnings Conference Call October 29, 2024 5:00 PM ET Company Participants Varant Shirvanian - Director, IR Michael Morrissey - President & CEO Christopher Senner - EVP & CFO Amy Peterson - EVP, Product Development, Medical Affairs & Chief Medical Officer Dana Aftab - Chief Scientific Officer P.J. Haley - EVP, Commercial Conference Call Participants Asthika Goonewardene - Truist Chi Fong - Bank of America Silvan Tuerkcan - Citizens JMP Michael Schmidt - Guggenheim Securit ...

Core Insights - Exelixis reported $539.54 million in revenue for Q3 2024, a 14.3% year-over-year increase, with an EPS of $0.47 compared to $0.10 a year ago, exceeding both revenue and EPS consensus estimates [1][3] Revenue Performance - Net product revenue was $478.06 million, surpassing the average estimate of $443.69 million by 10 analysts, reflecting a 12.1% increase year-over-year [3] - CABOMETYX generated $475.70 million in revenue, exceeding the seven-analyst average estimate of $438.54 million [3] - COMETRIQ revenue was $2.40 million, falling short of the $4.32 million estimate from seven analysts [3] - License revenue reached $60.24 million, significantly above the four-analyst average estimate of $42.11 million, marking a 42.2% year-over-year increase [3] - Collaboration services revenue was $1.24 million, below the $3.17 million average estimate from three analysts, representing a 59.3% decline year-over-year [3] Stock Performance - Exelixis shares have returned +9.8% over the past month, outperforming the Zacks S&P 500 composite's +1.7% change, with a Zacks Rank 2 (Buy) indicating potential for further outperformance [4]

Exelixis (EXEL) came out with quarterly earnings of $0.47 per share, beating the Zacks Consensus Estimate of $0.42 per share. This compares to earnings of $0.10 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 11.90%. A quarter ago, it was expected that this drug developer would post earnings of $0.37 per share when it actually produced earnings of $0.84, delivering a surprise of 127.03%. Over the last four quarters, the compan ...

Exhibit 99.1 Contacts: Chris Senner Chief Financial Officer Exelixis, Inc. 650-837-7240 csenner@exelixis.com Varant Shirvanian Director, Investor Relations Exelixis, Inc. 650-837-7917 vshirvanian@exelixis.com Exelixis Announces Third Quarter 2024 Financial Results and Provides Corporate Update - Total Revenues of $539.5 million, Cabozantinib Franchise U.S. Net Product Revenues of $478.1 million - - GAAP Diluted EPS of $0.40, Non-GAAP Diluted EPS of $0.47 - - Increasing Total Revenues and Net Product Revenue ...

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.While many investors like to look for moment ...

Core Viewpoint - Exelixis is positioned as a strong investment opportunity in the biotech sector, particularly due to its successful product Cabometyx and recent legal victories that enhance its market position [1][3]. Company Overview - Exelixis is an oncology-focused biotech company, primarily known for its product Cabometyx, which treats renal cell carcinoma and hepatocellular carcinoma [2]. - Cabometyx is a leading tyrosine kinase inhibitor (TKI) in the treatment of renal cell carcinoma [3]. Financial Performance - In Q2, Cabometyx's revenue increased by 35.6% year over year, reaching $637.2 million, with U.S. revenue accounting for $437.6 million, approximately 69% of Exelixis' total revenue [2]. - The company has demonstrated strong financial performance despite previous threats from generic competition [4]. Legal Developments - Exelixis won a lawsuit against MSN Laboratories, preventing the launch of a generic version of cabozantinib until at least early 2030, which significantly reduces financial risk for the company [3]. Future Prospects - Exelixis is awaiting approval for Cabometyx for treating previously treated pancreatic neuroendocrine tumors and is conducting several additional trials [4]. - The company is developing other promising candidates, including zanzalintinib, which is in phase 3 studies for metastatic colorectal cancer and targets unmet needs in oncology [5]. Investment Appeal - With shares trading under $30, Exelixis is considered an affordable investment with a strong pipeline and steady revenue growth expected through the end of the decade [5].

Exelixis (EXEL) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on October 29 ...