Business
Exelixis Announces Fourth Quarter and Full Year 2022 Financial Results and Provides Corporate Update
- Total Revenues of $423.9 million for the Fourth Quarter of 2022, $1.61 billion for the Full Year 2022 - - Cabozantinib franchise achieved $1.40 billion in
About this update from Exelixis, Inc.
[{"type":"text","content":"\n- Total Revenues of $423.9 million for the Fourth Quarter of 2022, $1.61 billion for the Full Year 2022 -\n\n- Cabozantinib franchise achieved $1.40 billion in U.S. Net Product Revenues for the Full Year 2022, including $377.4 million for the Fourth Quarter 2022 -\n\n- GAAP Diluted EPS of $(0.09) for the Fourth Quarter of 2022, $0.56 for the Full Year 2022 -\n\n- Non-GAAP Diluted EPS of $(0.03) for the Fourth Quarter of 2022, $0.82 for the Full Year 2022 -\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 fourth quarter and full year of 2022 and provided an update on progress toward achieving key corporate objectives, as well as commercial, clinical and pipeline development milestones.\n\n“Exelixis had a productive fourth quarter and full year 2022 as we continued to grow the cabozantinib commercial franchise and significantly advanced our growing product pipeline,” said Michael M. Morrissey, Ph.D., President and Chief Executive Officer, Exelixis. “The strong performance of CABOMETYX® resulted in U.S. net product revenues exceeding $1.4 billion for cabozantinib in 2022, further reinforcing the franchise’s status as a leading therapy for forms of renal, liver, and thyroid cancer. The team also continued to execute across our clinical development, discovery and business development functions. We had clinical data readouts for cabozantinib, next-generation tyrosine kinase inhibitor zanzalintinib, tissue factor-targeting antibody drug conjugate XB002, and selective and irreversible CDK7 inhibitor XL102. We progressed three promising biotherapeutics, XB010, XB014 and XB628, from internal discovery into preclinical development. And we signed multiple new collaborations, including exclusive clinical development collaboration and option agreements with Cybrexa and Sairopa in the fourth quarter to advance the CBX-12 and ADU-1805 programs, respectively.”\n\nDr. Morrissey continued: “In 2023, Exelixis is focused on advancing our diverse, high-impact pipeline of biotherapeutics and small molecules for oncology fueled by the continued commercial success of the cabozantinib franchise. Throughout the year we expect to initiate the next wave of phase 3 studies of zanzalintinib, move XB002 into full development, report ...