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Exelixis (EXEL)
NASDAQ:EXEL
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Earnings Data
Report Date
Feb 11, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.39Last Year’s EPS
$0.27Same Quarter Last Year
Moderate Buy
Based on 17 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 29, 2024
|% Change Since: 15.87%
|Next Earnings Date:Feb 11, 2025
Earnings Call Sentiment|Positive
The earnings call reflected a generally positive sentiment, highlighted by significant revenue growth, strategic collaborations, and a strong market position. Despite some challenges related to operating expenses and market competition, the forward-looking prospects, including the successful ANDA ruling and the partnership with Merck, signal a robust outlook for the company.Company Guidance
During the Exelixis Third Quarter 2024 Earnings Call, the company provided optimistic guidance based on robust financial performance and strategic developments. Exelixis reported Q3 2024 revenues of approximately $539.5 million, with net product revenues for the cabozantinib franchise reaching $478.1 million, marking a 9% increase quarter-over-quarter and 12% year-over-year. The company raised full-year total revenue guidance to between $2.15 billion and $2.2 billion, and net product revenue guidance to between $1.775 billion and $1.825 billion. Exelixis emphasized momentum with cabozantinib, projecting peak U.S. sales of nearly $3 billion annually by 2030. The company also highlighted significant potential for its zanzalintinib (zanza) asset, with projected U.S. sales exceeding $5 billion by 2033. The strategic collaboration with Merck, ongoing pivotal trials for zanza, and a successful ANDA ruling for cabozantinib were key factors bolstering future growth prospects. Additionally, Exelixis is committed to maintaining current expense levels while pursuing late-stage clinical assets to enhance its oncology pipeline.Record Revenue Growth
Exelixis reported total revenues of approximately $539.5 million for Q3 2024, driven by strong performance of the cabozantinib franchise with net product revenues of $478.1 million, marking a 12% year-over-year increase.
Successful Strategic Partnerships
Exelixis announced a collaboration with Merck for the development of Zanza, demonstrating significant momentum and validation for the product, while maintaining full global commercial rights.
Positive ANDA Ruling
Exelixis received a favorable ruling on the Cabo ANDA litigation, extending the revenue outlook for Cabozantinib into 2030.
Strong Market Position
CABOMETYX maintained its status as the #1 prescribed TKI in RCC in the U.S., with third quarter net product revenues of $478 million, reflecting a 9% quarter-over-quarter increase.
Pipeline Expansion
The company is advancing its early-stage pipeline with three novel compounds, including XL 309 and XL-495, and plans for multiple pivotal trials for Zanza.
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EXEL Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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EXEL Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 29, 2024 | $28.73 | $32.44 | +12.91% |
| Aug 06, 2024 | $23.45 | $26.52 | +13.09% |
| Apr 30, 2024 | $23.46 | $21.92 | -6.56% |
| Feb 06, 2024 | $21.83 | $20.18 | -7.56% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Exelixis (EXEL) report earnings?
Exelixis (EXEL) is schdueled to report earning on Feb 11, 2025, TBA Not Confirmed.
What is Exelixis (EXEL) earnings time?
Exelixis (EXEL) earnings time is at Feb 11, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is EXEL EPS forecast?
EXEL EPS forecast for the fiscal quarter 2024 (Q4) is $0.39.
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