Exelixis Inc. reports developments from its oncology business, including commercial performance for the cabozantinib franchise and clinical and regulatory updates across cancer programs. The company discovers, develops and commercializes cancer medicines, with CABOMETYX® (cabozantinib) as its flagship commercial product and COMETRIQ® also part of its cabozantinib portfolio.
Recurring updates include quarterly financial results, product revenue trends, financial guidance, pipeline milestones and investor conference presentations. Exelixis also discusses zanzalintinib, an investigational oral kinase inhibitor, and a broader pipeline of small molecules and biotherapeutics targeting additional tumor types and indications.
Exelixis (Nasdaq: EXEL) announced a settlement with Cipla and Cipla USA, Inc. regarding two patent litigations over CABOMETYX® (cabozantinib) tablets. The disputes stemmed from Cipla's ANDA seeking approval to market generic versions of CABOMETYX before the expiration of Exelixis' patents. The first litigation, filed on March 16, 2023, concerned a 60 mg dosage, and the second, filed on May 9, 2024, involved 20 mg and 40 mg dosages. Under the settlement, Cipla will be licensed to market generic CABOMETYX in the US from January 1, 2031, conditional on FDA approval. All ongoing litigation will be terminated, subject to FTC and DOJ review. The agreement details remain confidential.
Exelixis, Inc. (Nasdaq: EXEL) will participate in fireside chats at investor conferences in May, including BofA Securities Health Care Conference, Citizens JMP Life Sciences Conference, and RBC Capital Markets Global Healthcare Conference. The presentations will be webcast on www.exelixis.com with replay options available for at least 30 days.
Exelixis, Inc. (Nasdaq: EXEL) reported Q1 2024 financial results of $425M in total revenues, $379M from Cabozantinib Franchise U.S. Net Product Revenues. Restructuring expenses of $32.8M were recorded. GAAP Diluted EPS was $0.12, Non-GAAP Diluted EPS was $0.17. Exelixis focused on advancing pivotal trials, pipeline development, and label expansion for cabozantinib. The company maintained financial guidance for 2024. Positive clinical trial results were highlighted, and strategic priorities for 2024 were outlined. Exelixis also announced share repurchase program updates and key board member appointments.
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