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Exelixis (EXEL) Rated Equalweight by Barclays Amid Cancer Drug Outlook
Yahoo Finance· 2025-09-27 04:59
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 ...
Morgan Stanley Maintains Overweight Rating For Exelixis, Inc. (EXEL), Price Target Raised To $50
Yahoo Finance· 2025-09-26 14:47
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 ...
Exelixis (NasdaqGS:EXEL) FY Conference Transcript
2025-09-24 13:52
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]
Exelixis (NasdaqGS:EXEL) FY Conference Transcript
2025-09-10 13:02
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]
Why Is Cardiff Oncology Stock Trading Lower After Colorectal Cancer Data?
Benzinga· 2025-07-30 19:27
Core Insights - The pharmaceutical industry is focusing on developing more effective therapies for metastatic colorectal cancer, with Cardiff Oncology's onvansertib showing promising results in a Phase 2 clinical trial [1][7]. Clinical Trial Results - The CRDF-004 Phase 2 trial involved patients randomized into six arms, with the high-dose (30mg) onvansertib plus standard-of-care (SoC) showing an overall objective response rate (ORR) of 59%, while the 20mg dose had a 50% ORR, compared to 43% in the control arm [2]. - Confirmed ORRs at 6 months were 49% for the high-dose, 42% for the low-dose, and 30% for the control arm [2]. - A comparison with December 2024 data indicated an ORR of 57% for all onvansertib patients, with 64% in the 30mg dose plus SoC arm, and 33% in the SoC alone arm [3]. Efficacy and Safety - Spider plots demonstrated deeper tumor size reductions in patients receiving the 30mg dose of onvansertib combined with SoC compared to the control and 20mg dose arms [4]. - Both the 20mg and 30mg onvansertib arms showed early separation of progression-free survival (PFS) curves compared to the control arm, although median PFS has not yet been reached [5]. - The safety analysis of 104 patients indicated that onvansertib combined with chemotherapy and bevacizumab was well-tolerated, with no major unexpected toxicities [6]. Future Outlook - The update on the first-line mCRC program is expected by the first quarter of 2026, and William Blair believes the current data justifies further investment, including a Phase 3 trial [7]. - Analyst Andy Hsieh noted that the data weakens bearish arguments against the stock, raising the question of whether ORR improvements will lead to significant PFS gains, which are crucial for approval [8]. Market Sentiment - Historical data suggests that even modest improvements in response rates can lead to successful trial outcomes, as seen in other studies [9]. - William Blair holds a bullish view on onvansertib's potential to disrupt the RAS-mutated frontline mCRC treatment paradigm, reiterating an Outperform rating despite a 19.94% drop in Cardiff Oncology shares to $2.65 at the time of publication [10].
2 Highly Ranked Stocks to Consider After Q2 Earnings: CLS, EXEL
ZACKS· 2025-07-30 02:36
Group 1: Celestica (CLS) - Celestica exceeded Q2 earnings expectations, with sales of $2.89 billion, a 21% increase from $2.39 billion a year ago, surpassing estimates by 8% [3] - Q2 earnings soared 53% year-over-year to $1.39 per share, exceeding expectations of $1.24 by 12% [3] - The stock hit an all-time high of $208, spiking 16% in a single trading session, driven by high demand for communications and enterprise hardware products [2][4] - Celestica's stock has increased over 115% in 2025 and more than 135% in the last three months, outperforming broader market indexes [4] Group 2: Exelixis (EXEL) - Exelixis reported Q2 EPS of $0.75, beating expectations of $0.65 by 15%, despite a decline from $0.84 in the previous year [5] - Sales were $568.26 million, missing estimates of $578.91 million and down from $637.18 million in Q2 2024 [5][6] - The stock fell nearly 17% post-earnings, presenting a potential buy-the-dip opportunity, despite reaffirming full-year revenue guidance of $2.25-$2.35 billion [5][7] - Exelixis' stock is down 5% in 2025 but has increased over 80% in the last two years, currently trading under $40 with a forward earnings multiple of 16.6 [9]
Exelixis Q2 Revenue Falls 11 Percent
The Motley Fool· 2025-07-28 21:34
Core Insights - Exelixis reported Q2 2025 results with non-GAAP EPS of $0.75, exceeding analyst expectations of $0.66, while GAAP revenue of $568.3 million fell short of the $580.05 million estimate, reflecting a 10.8% year-over-year decline primarily due to the absence of a $150 million milestone payment from Q2 2024 [1][2][6] Financial Performance - Non-GAAP EPS was $0.75, down 10.7% from $0.84 in Q2 2024 [2] - GAAP EPS was $0.65, down 15.6% from $0.77 in Q2 2024 [2] - Total revenue was $568.3 million, a decrease of 10.8% from $637.2 million in Q2 2024 [2] - Net product revenue increased by 18.8% year-over-year to $520 million, driven by strong sales of CABOMETYX [2][5] - Collaboration revenue fell to $48.2 million from $199.6 million, a 75.8% decline due to the lack of milestone payments [2][6] Business Model and Strategy - Exelixis focuses on developing targeted small-molecule therapies for cancer, with CABOMETYX as its core product for various cancers [3] - The company aims to diversify its portfolio beyond cabozantinib through strategic partnerships and a robust development pipeline [4] Product Sales and Market Position - CABOMETYX sales accounted for the majority of net product revenue, with $517.9 million from CABOMETYX and $2.1 million from COMETRIQ [5] - The new indication for neuroendocrine tumors now represents about 4% of CABOMETYX's business, with rapid launch efforts following U.S. approval in March 2025 [5][11] Clinical Development and Pipeline - Zanzalintinib showed promising results in the Phase 3 STELLAR-303 trial for colorectal cancer, with a regulatory submission planned [9] - The company is focusing on high-potential projects, having discontinued weaker assets [9][10] Regulatory and Competitive Landscape - Recent approvals for CABOMETYX in neuroendocrine tumors expand market opportunities, although financial contributions will take time to materialize [11] - CABOMETYX remains a leading TKI in renal cell carcinoma, but faces competition from generics in neuroendocrine tumors [12] Future Guidance - Management maintains FY2025 revenue guidance of $2.25 billion to $2.35 billion, with net product revenue expected between $2.05 billion and $2.15 billion [14] - The company will continue to evaluate guidance based on the performance of the NET launch and other new indications [14][15]
Exelixis' Q2 Earnings: Will Cabometyx Sales Drive Growth?
ZACKS· 2025-07-23 15:55
Core Insights - Investors are focused on the performance of the lead drug Cabometyx as Exelixis prepares to report its second-quarter 2025 results on July 28, with sales and earnings estimates at $527 million and 63 cents per share respectively [1][6] Group 1: Earnings Performance - Exelixis has consistently beaten earnings estimates in the past four quarters, with an average surprise of 48.6%, including a 47.62% beat in the last reported quarter [2] - The company's earnings ESP is +2.52%, with the consensus estimate at 63 cents per share and the most accurate estimate at 65 cents [12] Group 2: Revenue Drivers - Revenue generation comes from net product sales, license revenues, and collaboration and service revenues, with net product revenues likely increasing due to higher Cabometyx sales volumes and average net selling prices [3] - The label expansion of Cabometyx for treating pancreatic neuroendocrine tumors (pNET) and extra-pancreatic NET (epNET) is expected to contribute to incremental sales [5][6] Group 3: Drug Performance and Market Position - Cabometyx remains the leading TKI for advanced renal cell carcinoma (RCC) in both front-line and second-line treatment settings, with this trend expected to continue [4] - The FDA's recent approvals for Cabometyx are anticipated to drive additional revenue growth in Q2 [9] Group 4: Share Repurchase and Financial Strategy - The board has authorized a $500 million stock repurchase program, which is expected to enhance the bottom line as the ongoing repurchase program is completed [7] Group 5: Pipeline Developments - Positive results from the late-stage STELLAR-303 study for zanzalintinib, a third-generation oral TKI, are expected to add momentum to the pipeline ahead of earnings [8][9]
EXEL Stock Rises on Positive Data From Colorectal Cancer Study
ZACKS· 2025-06-24 14:41
Core Insights - Exelixis, Inc. (EXEL) shares increased by 7.4% following the announcement of positive results from the late-stage STELLAR-303 study [1][9] - The STELLAR-303 study demonstrated a statistically significant improvement in overall survival for patients treated with zanzalintinib in combination with Tecentriq compared to regorafenib [5][9] - Year-to-date, Exelixis shares have risen by 30.2%, contrasting with a 3.4% decline in the industry [2] Study Details - The STELLAR-303 study is a phase III global, multicenter, randomized, open-label trial involving 901 patients with previously non-MSI-high metastatic colorectal cancer [2][5] - The study's primary endpoints include overall survival in the intent-to-treat population and a subgroup without liver metastases [5][6] - Zanzalintinib is a third-generation oral tyrosine kinase inhibitor targeting receptor tyrosine kinases involved in cancer growth [4] Future Prospects - The trial will continue to analyze the second primary endpoint concerning overall survival in patients without liver metastases [6][9] - The positive results from the STELLAR-303 study enhance the likelihood of regulatory success for zanzalintinib [7] - Exelixis is actively working to diversify its oncology portfolio beyond its lead drug, Cabometyx, with zanzalintinib being developed for various advanced solid tumors [12][14] Collaboration and Market Position - Exelixis is collaborating with Merck to evaluate zanzalintinib in combination with Keytruda for head and neck squamous cell carcinoma [13] - Cabometyx remains a leading tyrosine kinase inhibitor for renal cell carcinoma, with strong demand bolstered by its combination with Opdivo [10][11] - Recent label expansions for Cabometyx are expected to further enhance sales [11]
Exelixis: Zanzalintinib MOA Overcomes Competing CRC Regorafenib Treatment
Seeking Alpha· 2025-06-23 16:58
Core Insights - Exelixis has made significant advancements in its pipeline due to two recent key developments [2] Group 1: Company Developments - Exelixis' partner Ipsen received a positive opinion from the European Medicines Agency, which is a crucial step for the company's product pipeline [2]