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Mar 31, 2022
Exelixis Q1 2022 Earnings Report
Exelixis had a strong start to 2022 with momentum across all components of its business.
Key Takeaways
Exelixis reported total revenues of $356.0 million and GAAP diluted EPS of $0.21 for the first quarter of 2022. The growth was driven by increased demand for CABOMETYX® in combination with OPDIVO® and the initial impact of the drug’s U.S. label expansion into differentiated thyroid cancer.
Total revenues for the quarter ended March 31, 2022 were $356.0 million, compared to $270.2 million for the comparable period in 2021.
GAAP net income for the quarter ended March 31, 2022 was $68.6 million, or $0.21 per share, basic and diluted, compared to GAAP net income of $1.6 million for the comparable period in 2021.
Non-GAAP net income for the quarter ended March 31, 2022 was $83.9 million, or $0.26 per share, basic and diluted, compared to non-GAAP net income of $28.5 million for the comparable period in 2021.
Cash, cash equivalents, restricted cash equivalents and investments were $2.0 billion at March 31, 2022, compared to $1.9 billion at December 31, 2021.
Exelixis
Exelixis
Exelixis Revenue by Segment
Revenue by Segment
CABOMETYX Revenue
CapyFin.comCOMETRIQ Revenue
CapyFin.comLicense Revenue
CapyFin.comCollaboration Revenue
CapyFin.com Forward Guidance
Exelixis is maintaining the following previously provided financial guidance for fiscal year 2022:
Positive Outlook
- Total revenues $1.525 billion - $1.625 billion
- Net product revenues $1.325 billion - $1.425 billion
- Cost of goods sold 5% - 6% of net product revenues
- Research and development expenses (1) $725 million - $775 million
- Selling, general and administrative expenses (2) $400 million - $450 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income