Exelixis ( (EXEL) ) has realeased its Q3 earnings. Here is a breakdown of the information Exelixis presented to its investors.
Exelixis, Inc. is an innovative oncology company focusing on drug discovery and development to provide next-generation cancer treatments. The company’s third-quarter 2024 earnings report highlights a significant increase in total revenues to $539.5 million, driven by strong sales of its cabozantinib franchise and expanded collaborations. Notably, the company reported a favorable ruling in patent litigation and announced a new partnership with Merck, enhancing its pipeline with six phase 3 trials for zanzalintinib. Financially, Exelixis achieved a GAAP diluted EPS of $0.40 and non-GAAP diluted EPS of $0.47, alongside increased financial guidance for 2024. The company is confident in its growth trajectory, focusing on advancing its clinical pipeline and exploring new cancer treatment opportunities.
