Welcome to our dedicated page for Exelixis news (Ticker: EXEL), a resource for investors and traders seeking the latest updates and insights on Exelixis stock.
Exelixis Inc. (symbol: EXEL) is a leading biopharmaceutical company that specializes in the discovery, development, and commercialization of small molecule therapies aimed at improving cancer treatment. Founded in the early 1990s, Exelixis has dedicated the past decade to establishing a robust development platform to bring new, effective cancer therapies to patients in need.
Exelixis’s flagship product, Cometriq® (cabozantinib), received its initial regulatory approval in late 2012 and has since been a cornerstone in the company’s portfolio. Cometriq is prescribed for the treatment of metastatic medullary thyroid cancer, while its variant Cabometyx is used for treating kidney and liver cancers.
Another significant achievement is the development and commercialization of Cotellic in partnership with Roche, targeted at melanoma treatment. These therapies have not only enhanced Exelixis’s market presence but also brought substantial improvements in patient outcomes.
Exelixis remains steadfast in its commitment to clinical excellence and patient care, consistently exploring new avenues for innovative cancer treatments. The company continues to engage in rigorous research and development activities, underpinned by strategic partnerships and collaborations.
Financially, Exelixis has shown solid performance with steady revenue growth driven by its commercial products and a promising pipeline of new therapies under development. The company’s dedication to research, patient care, and financial prudence makes it a notable entity in the biopharmaceutical landscape.
For more information about Exelixis and potential job opportunities, please visit their official website at www.exelixis.com.
Farallon Capital Management, owning approximately 7.2% of Exelixis (NASDAQ: EXEL), calls for change in the company's board, citing a history of shareholder disappointment. Despite significant revenue from cabozantinib, shareholder returns have been underwhelming, averaging less than 1% annually since the IPO. Farallon plans to nominate three independent directors to bring fresh perspectives, improve R&D efficiency, and communicate a coherent strategy. The firm criticizes Exelixis for undisciplined R&D spending, forecasting over $1 billion in 2023 while managing too many simultaneous trials. Investors seek accountability and a commitment to returning capital to shareholders.
Exelixis, Inc. (Nasdaq: EXEL) has authorized a share repurchase program of up to
Exelixis (NASDAQ: EXEL) will present a corporate overview at the 2023 Guggenheim Healthy Altitudes Summit on March 16, 2023, at 10:00 a.m. ET. Interested parties can access the presentation via a webcast on www.exelixis.com. Attendees should log on 15 minutes early for software downloads. A replay will be available for 30 days post-event. Exelixis focuses on innovative cancer treatments, primarily through its flagship drug, CABOMETYX® (cabozantinib), and is committed to expanding its oncology portfolio.
Exelixis, Inc. (NASDAQ: EXEL) announced that its phase 3 CONTACT-03 study did not achieve its primary endpoint of progression-free survival (PFS) when evaluating cabozantinib (CABOMETYX®) in combination with atezolizumab versus cabozantinib alone in patients with advanced renal cell carcinoma (RCC) post-immune checkpoint therapy. The trial included 522 patients but failed to show clinical benefit for the combination treatment. However, the safety profile remained consistent with known effects of individual agents, with no new safety signals observed. Detailed findings will be revealed in a forthcoming medical meeting.
Exelixis (NASDAQ: EXEL) is scheduled to participate in multiple investor conferences in March 2023. The company will present at the Cowen 43rd Annual Health Care Conference on March 7 at 1:30 PM ET in Boston, and at the Barclays Global Healthcare Conference on March 14 at 1:35 PM ET in Miami. Additionally, Exelixis will present virtually at the Oppenheimer 33rd Annual Healthcare Conference on March 14 at 1:20 PM ET. Investors can access the live webcasts and replays on the company’s website. Exelixis is committed to advancing cancer care through innovative therapies.
Bristol Myers Squibb (NYSE: BMY) and Exelixis (NASDAQ: EXEL) announced three-year follow-up results from the Phase 3 CheckMate -9ER trial, demonstrating significant benefits for the combination of Opdivo® (nivolumab) and CABOMETYX® (cabozantinib) in treating advanced renal cell carcinoma (RCC). With a median follow-up of 44 months, the combination showed a 30% reduction in the risk of death and improved overall survival (49.5 months vs. 35.5 months) compared to sunitinib. Progression-free survival also doubled (16.6 months vs. 8.4 months) while maintaining safety profiles. These results will be presented at the ASCO GU 2023 Symposium.
Exelixis has received FDA clearance for the Investigational New Drug (IND) application of ADU-1805, a monoclonal antibody targeting SIRPα, which is designed to block the SIRPα-CD47 checkpoint in patients with advanced solid tumors. This advancement signifies a critical step in Exelixis’ pipeline, with a phase 1 study set to begin in Q2 2023. The IND clearance activates a
Exelixis reported total revenues of $423.9 million for Q4 2022 and $1.61 billion for the full year, showing a rise in U.S. net product revenues for cabozantinib to $1.4 billion. GAAP EPS was $(0.09) for Q4 2022 but $0.56 for the full year. The non-GAAP EPS was $(0.03) in Q4 2022 compared to $0.82 for the full year. Research and development expenses rose to $336.8 million for Q4 and $891.8 million for the year. Exelixis aims for robust growth in 2023, targeting total revenues of $1.775-$1.875 billion. Upcoming milestones include pivotal trial data readouts and the advancement of its drug pipeline.
Exelixis, Inc. (NASDAQ: EXEL) has announced its participation in two major investor conferences in February 2023. The first is the Guggenheim Healthcare Talks Oncology Day, taking place on February 9 at 11:20 am ET in New York. The second conference is the SVB Securities Global Biopharma Conference, with a virtual presentation scheduled for February 15 at 2:20 pm ET.
Investors can access the webcasts via www.exelixis.com. Replays will be available for 30 days after the event. Exelixis focuses on innovative cancer treatments and aims to bring hope to patients through advanced therapies.
Exelixis, Inc. (NASDAQ: EXEL) will release its fourth quarter and full year 2022 financial results on February 7, 2023, 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 event online at www.exelixis.com or by phone. A replay will be available until February 9, 2023.
Exelixis is focused on oncology, developing innovative treatments and expanding its product portfolio, including the flagship CABOMETYX. The company continues to invest in research to improve cancer care.
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