Exelixis Inc Stock Price, News & Analysis

Exelixis, Inc. (NASDAQ: EXEL) is set to release its Q1 2022 financial results on May 10, 2022, after market close. A conference call will take place at 5:00 p.m. ET to discuss the results and provide a business update. Investors can access the webcast via the company’s website. Exelixis is focused on oncology, developing new medicines for difficult-to-treat cancers, and has successfully brought four products to market. The company continues to reinvest in its pipeline and seeks to expand its therapeutic offerings.

Exelixis, Inc. (Nasdaq: EXEL) has initiated the dose-escalation phase of a first-in-human phase 1 trial for XL114, a novel anti-cancer compound targeting non-Hodgkin's lymphoma (NHL). This trial aims to determine both the recommended and maximum tolerated doses while evaluating safety and preliminary efficacy. Preclinical studies suggest XL114 is effective against lymphoma cells resistant to Bruton's tyrosine kinase inhibitors. The company looks forward to progressing to the expansion stage following dose determination.

Exelixis, Inc. (Nasdaq: EXEL) announces the retirement of Charles Cohen, Ph.D., from its Board of Directors, effective May 25, 2022. Dr. Cohen, a co-founder, has served on the Board since November 1995, significantly contributing to the company's evolution in oncology therapies. His leadership, particularly in the Compensation Committee, has been pivotal in Exelixis' growth, highlighted by over $1 billion in 2021 net revenue from cabozantinib. The company expresses gratitude for his service and confidence in the ongoing leadership to continue advancing innovative cancer treatments.

Exelixis, Inc. (Nasdaq: EXEL) announced a positive opinion from the European Medicines Agency’s CHMP regarding CABOMETYX for treating adults with radioactive iodine-refractory differentiated thyroid carcinoma. This recommendation is based on the pivotal COSMIC-311 trial, which showed improved progression-free survival. The final decision from the European Commission is awaited. The CHMP's endorsement follows the FDA's September 2021 approval of CABOMETYX in the U.S. for similar indications.

Exelixis, Inc. (Nasdaq: EXEL) announced results from the final analysis of the COSMIC-312 trial evaluating cabozantinib (CABOMETYX®) combined with atezolizumab versus sorafenib in patients with untreated advanced hepatocellular carcinoma (HCC). The analysis showed no improvement in overall survival (OS) for the combination versus sorafenib. Consequently, Exelixis will not submit a supplemental New Drug Application to the FDA. The trial enrolled 837 patients across 281 centers globally, and further results will be presented at a medical meeting.

Exelixis (Nasdaq: EXEL) has announced its participation in several upcoming investor conferences in March 2022. These include the Cowen 42nd Annual Healthcare Conference on March 9, the Barclays Global Healthcare Conference on March 15, and the Oppenheimer 32nd Annual Healthcare Conference, also on March 15. The events will include virtual presentations accessible via the company’s website. Exelixis focuses on developing new therapies for difficult-to-treat cancers and has four products on the market, including CABOMETYX and COMETRIQ.

Exelixis reported total revenues of $451.1 million in Q4 2021 and $1.43 billion for the full year, showcasing significant growth compared to $270.1 million and $987.5 million in 2020. The cabozantinib franchise achieved U.S. net product revenues exceeding $1 billion, with $302.7 million generated in Q4. GAAP diluted EPS was $0.29 for Q4 and $0.72 for the year. R&D expenses rose to $222.3 million in Q4, driven by increased collaboration costs. Cash reserves amounted to $1.9 billion. The company projects 2022 total revenues between $1.525 billion and $1.625 billion.

Bristol Myers Squibb (BMY) and Exelixis (EXEL) report updated results from the CheckMate -9ER trial at ASCO GU 2022, highlighting the superiority of the Opdivo (nivolumab) and Cabometyx (cabozantinib) combination over sunitinib for advanced renal cell carcinoma. With a median follow-up of 32.9 months, patients receiving the combination achieved a median overall survival of 37.7 months and a progression-free survival of 16.6 months. No new safety concerns were identified, and health-related quality of life was significantly improved in the combination group.

Exelixis, Inc. (Nasdaq: EXEL) plans to announce its fourth quarter and full year 2021 financial results on February 17, 2022, after market close. A conference call and webcast will follow at 5:00 p.m. ET to discuss the results and provide a business update. Investors can access the call via the company’s website or by phone. Exelixis is a biopharmaceutical company focused on oncology, aiming to develop new treatments for challenging cancers. The company is a member of the S&P MidCap 400 index.