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Dec 31, 2024
Exelixis Q4 2024 Earnings Report
Key Takeaways
Exelixis delivered strong Q4 2024 results, driven by the continued performance of the cabozantinib franchise. Total revenue reached $567 million, with net product revenue of $515.2 million. GAAP net income was $139.9 million, while non-GAAP net income was $160.3 million.
Revenue by Segment
Forward Guidance
Exelixis maintains its 2025 guidance, with expected revenue between $2.15 billion and $2.25 billion, and net product revenue between $1.95 billion and $2.05 billion. The guidance does not reflect potential U.S. regulatory approval of CABOMETYX for neuroendocrine tumors.
Positive Outlook
- Projected revenue growth with a range of $2.15B - $2.25B
- Expected launch of CABOMETYX in new indications
- Advancing pivotal trials for zanzalintinib in 2025
- Strategic collaboration with Merck for oncology trials
- Robust financial position with continued stock repurchase program
Challenges Ahead
- Regulatory uncertainty around CABOMETYX approval
- Potential pressure on operating margins due to R&D expenses
- Increased competition in oncology drug market
- Stock-based compensation impacting non-GAAP earnings
Historical Earnings Impact
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Avg. Return Before/After Earnings
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