EXEL
Exelixis, Inc.41.60
+0.22+0.53%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Reaffirms story, buyback commitment, NET push
Q&A largely reaffirmed prepared remarks on CABOMETYX's RCC and NET strength plus zanzalintinib's CRC NDA progress, but management committed to exhausting the remaining $590 million in share repurchases this year if shares stay undervalued. They expect small manufacturer discounts to persist post-ZANZA launch given CABO's revenue dominance. NET growth hinges on the new GI sales team's community push, with STELLAR-316 eyeing a 20,000-25,000 patient CRC opportunity. Analysts grilled on 340B volatility, competition, and trial designs; answers stayed bullish, stressing OS maturity. Repurchases accelerate opportunistically. Watch NET share gains and PDUFA outcome.
Key Stats
Market Cap
11.20BP/E (TTM)
17.48Basic EPS (TTM)
2.38Dividend Yield
0%Recent Filings
8-K
Q4 revenues $599M, cabozantinib surges
Exelixis reported Q4 2025 total revenues of $599M, up from $567M last year, with cabozantinib net product revenues hitting $547M on higher volume. Full-year revenues reached $2.32B, GAAP diluted EPS $0.88 quarterly and $2.78 annually. Cabozantinib grows robustly. FDA accepted zanzalintinib NDA for metastatic CRC, PDUFA December 2026; 2026 guidance holds at $2.525B-$2.625B total revenues.
10-K
FY2025 results
Exelixis delivered FY2025 net product revenues of $2.1B from CABOMETYX and COMETRIQ, up 17% y/y, driven by 16% higher CABOMETYX units reflecting longer therapy duration in first-line RCC combo with nivolumab and new pNET/epNET approval. Royalties from ex-US partners rose 7% y/y to $179M, fueled by Ipsen's sales growth. Q4 momentum sustained annual profitability for ninth year, with R&D down 9% y/y to $825M amid pipeline prioritization including zanzalintinib NDA submission. Cash hit $1.7B after $1.2B buybacks; liquidity strong. Generic cabozantinib threats loom.
8-K
Cabozantinib revenues top $2.1B
Exelixis reported preliminary FY2025 cabozantinib net product revenues of ~$2.123B, up from prior years, with total revenues ~$2.320B. FY2026 guidance projects net product revenues $2.325B-$2.425B amid 3% price hikes, while zanzalintinib awaits FDA review for CRC post-STELLAR-303 success. Cash sits at ~$1.65B. Repurchases hit $2.16B.
8-K
GC resigns; internal promotion.
Exelixis' Executive VP and General Counsel Jeffrey Hessekiel resigned effective November 2025, stepping down November 7—no disagreements noted. Smooth transition: SVP IP & Licensing Brenda Hefti, Ph.D., J.D., promoted to General Counsel that day, reporting to CEO Michael Morrissey. Internal succession preserves legal continuity. Hefti joined in 2013.
8-K
Q3 revenues surge, $750M buyback
Exelixis posted Q3 2025 total revenues of $597.8 million, up from $539.5 million last year, driven by cabozantinib U.S. net product revenues of $542.9 million versus $478.1 million. GAAP diluted EPS hit $0.69. Board authorized $750 million stock repurchase by December 31, 2026. Repurchases slashed shares outstanding.
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