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 ...

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Exelixis (EXEL) shares ended the last trading session 8.6% higher at $28.50. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 4.5% loss over the past four weeks. Exelixis' shares gained on a favorable court ruling against MSN Laboratories for a generic product of lead drug Cabometyx (related to cabozantinib). The Delaware District Court ruled in Exelixis' favor, rejecting MSN's challenge to three listed patents rela ...

Exelixis, Inc. (EXEL) announced that the District Court of Delaware has ruled in its favor in the second patent litigation against MSN Laboratories. MSN is seeking approval for its generic product of Exelixis' cabozantinib. Details of EXEL's Patent Litigation Cabozantinib is marketed under the brand name Cabometyx for the treatment of renal cell carcinoma (RCC). EXEL has been involved in a lawsuit with MSN since 2019, when the latter submitted an abbreviated new drug application (ANDA) to the FDA requesting ...

Core Viewpoint - Exelixis, Inc. has entered a collaboration with Merck to advance the clinical development of zanzalintinib, a tyrosine kinase inhibitor targeting multiple cancer pathways, which has led to a 9.4% increase in Exelixis shares year to date, outperforming the industry growth of 6.3% [1][5]. Collaboration Details - Exelixis will evaluate zanzalintinib in combination with Merck's Keytruda for head and neck squamous cell carcinoma (HNSCC) in a late-stage study [3]. - The collaboration includes evaluating zanzalintinib with Merck's Welireg in a phase I/II study and two phase III studies for renal cell carcinoma (RCC) [4]. - Merck will supply Keytruda for the STELLAR-305 study, while both companies will share funding responsibilities for the trials [5]. Pipeline and Portfolio Expansion - Exelixis is focused on expanding its oncology portfolio beyond its lead drug, Cabometyx, which has shown strong performance, particularly in combination with Bristol Myers' Opdivo [7]. - The FDA has accepted an sNDA for cabozantinib for advanced pancreatic neuroendocrine tumors, with a target action date of April 3, 2025 [8]. - Exelixis plans to submit an sNDA for cabozantinib in combination with Tecentriq for metastatic castration-resistant prostate cancer and is advancing phase I efforts for XL309 and XB010 [9]. Strategic Focus - The successful development of additional drugs is expected to broaden Exelixis' portfolio and reduce reliance on Cabometyx [10].

Core Viewpoint - Exelixis, Inc. (EXEL) has shown strong stock performance, rising 20.7% over the past three months, significantly outperforming the industry and the S&P 500 Index, driven by the success of its lead drug Cabometyx and advancements in its pipeline [1][12]. Group 1: Drug Performance - Cabometyx remains the leading tyrosine kinase inhibitor (TKI) for renal cell carcinoma (RCC) in 2023, primarily due to its combination use with Bristol Myers' Opdivo [2][4]. - The drug has also seen growth in the hepatocellular carcinoma indication, indicating its strong market position [2]. Group 2: Pipeline Developments - Exelixis is focused on expanding Cabometyx's label, with the FDA accepting a supplemental new drug application (sNDA) for advanced pancreatic neuroendocrine tumors (pNET) and extra-pancreatic NET (epNET), with a target action date of April 3, 2025 [4][5]. - The company plans to submit another sNDA for cabozantinib in combination with Tecentriq for metastatic castration-resistant prostate cancer later this year [5]. - Exelixis is advancing its pipeline with promising candidates like zanzalintinib and XL309, with plans to initiate a phase III study for zanzalintinib in 2025 [6][7]. Group 3: Shareholder Value Initiatives - Exelixis has been actively repurchasing shares, completing a $450 million repurchase program and returning $1 billion to shareholders since March 2023 [9][10]. - The board has authorized an additional $500 million for share repurchases through the end of 2025, indicating a commitment to enhancing shareholder value [10]. Group 4: Valuation and Earnings Estimates - EXEL shares currently trade at a price/sales ratio of 3.64x forward sales, higher than its historical mean of 3.34x and the biotech industry's average of 1.79x [11]. - The Zacks Consensus Estimate for 2024 earnings per share (EPS) has increased to $1.83 from $1.79 over the past month, reflecting positive market sentiment [12].