Exelixis reports Q4 adjusted EPS 33c, consensus 21c

Reports Q4 revenue $479.65M, consensus $480.17M. “Exelixis entered 2024 with significant momentum on the research, development, commercial and financial fronts,” said Michael M. Morrissey, Ph.D., President and Chief Executive Officer, Exelixis. “This year, we plan to advance our regulatory strategies for cabozantinib label expansions in neuroendocrine tumors and metastatic castration-resistant prostate cancer, both indications with high unmet medical need and the potential to drive revenue growth for the franchise for years to come. Positive data from the CABINET and CONTACT-02 studies give us confidence that cabozantinib has the potential to become an important option for clinicians treating patients with these forms of cancer. As we pursue these additional growth opportunities, we remain steadfast in our defense of cabozantinib’s intellectual property and anticipate a ruling on the second bench trial for our ongoing litigation with MSN Pharmaceuticals this spring.”