• Reported GAAP EPS of $0.92 up 87.76% YoY • Reported revenue of $598.66M up 5.63% YoY • Exelixis is maintaining its 2026 financial guidance, projecting total revenues between $2.53B and $2.63B, with net product revenues of $2.33B to $2.43B and an effective tax rate of 21% to 23%.
Bullish
Exelixis' cabozantinib franchise showed robust growth, while zanzalintinib achieved FDA NDA acceptance and advanced its pipeline with new pivotal trials. Strategic collaborations with Natera and Merck also bolster future growth.
Bearish
Exelixis experienced decreased collaboration revenues for the year, and faces regulatory unpredictability for zanzalintinib. The company also has dependence on third-party vendors and market competition risks.