Exelixis(US:EXEL)2023-11-02 01:45Financial Performance - Total revenues for Q3 2023 were $471.9 million, a 15% increase year-over-year[60] - Net product revenues reached $426.5 million[115] - GAAP net income was $1 million, a significant decrease compared to $73.2 million in Q3 2022[9, 124] - Non-GAAP net income was $32.1 million[9] - Ending cash and investments totaled $1915.1 million, a 9% decrease year-over-year[60] Cabozantinib Franchise - Cabozantinib franchise net product revenues were approximately $426 million in the U S and $586 million globally in Q3 2023[113] - Ipsen's royalty to Exelixis from ex-US and ex-Japan cabozantinib franchise net product revenues was $34.8 million in Q3 2023[63] - Ipsen ex-US and ex-Japan cabozantinib franchise net product revenues reached $145.4 million[215] - CABOMETYX maintained its position as the 1 prescribed TKI in RCC[127] Research and Development - GAAP R&D expenses were $332.6 million, a 67% increase compared to Q3 2022[116, 124] - Non-GAAP R&D expenses were $320.1 million[116] - License revenues include cabozantinib royalties to Exelixis of $37.8 million[132]