Business
Exelixis Announces First Quarter 2025 Financial Results and Provides Corporate Update
- Total Revenues of $555.4 million, Cabozantinib Franchise U.S. Net Product Revenues of $513.3 million - - GAAP Diluted EPS of $0.55, Non-GAAP Diluted EPS of
About this update from Exelixis, Inc.
[{"type":"text","content":"\n- Total Revenues of $555.4 million, Cabozantinib Franchise U.S. Net Product Revenues of $513.3 million -\n\n- GAAP Diluted EPS of $0.55, Non-GAAP Diluted EPS of $0.62 -\n\n- Increasing 2025 Full Year Net Product Revenues and Total Revenues Guidance by $100 million -\n\n- Conference Call and Webcast Today at 5:00 PM Eastern Time -\n\n ALAMEDA, Calif.--(BUSINESS WIRE)--\nExelixis, Inc. (Nasdaq: EXEL) today reported financial results for the first quarter of 2025, provided an update on progress toward achieving key corporate objectives, and outlined its commercial, clinical and pipeline development milestones.\n\n“Exelixis delivered outstanding financial performance in the first quarter of 2025, driven by accelerating growth in CABOMETYX® demand, new patient starts and revenues,” said Michael M. Morrissey, Ph.D., President and Chief Executive Officer, Exelixis. “Based on the strong first quarter dynamics of CABOMETYX, we’re increasing our 2025 full year financial guidance for net product revenues and total revenues by $100 million. The Exelixis commercial team rapidly mobilized for the launch of CABOMETYX in advanced neuroendocrine tumors (NET) within hours of receiving U.S. regulatory approval in late March. We are very pleased with the initial reception and plan to provide further updates to our 2025 financial guidance as we build momentum on the NET launch and gain further clarity on additional revenue opportunities for 2025.”\n\nDr. Morrissey continued: “As we work toward our goal of becoming a multi-franchise oncology company, we look forward to important potential milestones for zanzalintinib in the second half of 2025, based on anticipated event rates. These include pivotal trial readouts from STELLAR-303 in colorectal cancer and STELLAR-304 in non-clear cell renal cell carcinoma, as well as data to drive a decision to move into the phase 3 portion of the STELLAR-305 trial in head and neck cancer. We also look forward to the initiation of the STELLAR-311 pivotal study in neuroendocrine tumors in the first half of the year, and Merck’s anticipated initiation of two pivotal studies evaluating zanzalintinib and belzutifan in renal cell carcinoma. Furthermore, we continue to provide insights on our earlier-stage pipeline, with preclinical data presented on multiple programs at the AACR Annual Meeting in April. I’m proud of the...