Business
Exelixis Announces Second Quarter 2020 Financial Results and Provides Corporate Update
- Total Revenues of $259.5 Million, Cabozantinib Franchise Revenues of $178.7 Million - - GAAP Diluted EPS of $0.21, Non-GAAP Diluted EPS of $0.25 - -
About this update from Exelixis, Inc.
[{"type":"text","content":"\n- Total Revenues of $259.5 Million, Cabozantinib Franchise Revenues of $178.7 Million -\n\n\n- GAAP Diluted EPS of $0.21, Non-GAAP Diluted EPS of $0.25 -\n\n\n- Conference Call and Webcast Today at 5:30 PM Eastern Time -\n\n ALAMEDA, Calif.--(BUSINESS WIRE)--\nExelixis, Inc. (Nasdaq: EXEL) today reported financial results for the second quarter of 2020 and provided an update on progress toward fulfilling its key corporate objectives, as well as commercial and clinical development milestones.\n\n\n“Exelixis continued to execute on our key priorities and milestones in the second quarter of 2020,” said Michael M. Morrissey, Ph.D., President and Chief Executive Officer of Exelixis. “The data flow in the quarter was headlined by the positive top-line results from the phase 3 pivotal CheckMate -9ER study evaluating the combination of cabozantinib and nivolumab in first-line renal cell carcinoma. We’re looking forward to the presentation of detailed results from the trial at the European Society for Medical Oncology’s Virtual Congress in September, where CheckMate -9ER has been selected for an oral presentation in the conference’s Presidential Symposium track. Working in tandem with Bristol Myers Squibb, the trial’s sponsor, and Ipsen and Takeda, our partners in cabozantinib’s global clinical development and commercialization, we’re quickly moving forward with the associated high-priority regulatory filings on a global basis. At the same time, the Exelixis commercial organization is well into their preparations for a potential launch in the United States.”\n\n\nDr. Morrissey continued: “As we move forward on the next commercial growth opportunity for cabozantinib, we’re also moving quickly to evaluate its potential utility in additional disease settings. Based on the results from COSMIC-021, we and our collaboration partner Roche recently initiated the CONTACT clinical trial program, which consists of three global phase 3 pivotal trials of cabozantinib in combination with atezolizumab in metastatic non-small cell lung cancer, castration-resistant prostate cancer, and renal cell carcinoma. In addition, as a result of our internal efforts complemented by the work of our research partners, we remain on track to file up to three new Investigational New Drug applications by the end of this year, including a CDK7 inhibitor from our Aurigen...