Exelixis Q3 revenue up 15% to $471.9M but GAAP net income drops to $1.0M from $73.2M

EXELIXIS, INC.

2023-Q3 EPS reported $0.38 revenue$1,350,556,000

Q3 total revenues $471.9M (up 14.6% YoY); net product rev $426.5M (up 16.4% YoY).
GAAP net income $1.0M ($0.00 EPS) vs $73.2M ($0.23 EPS) in Q3 2022; non-GAAP net income $32.1M ($0.10 EPS).
R&D expenses surged to $332.6M from $198.8M, driven by license/collaboration costs and pipeline investments.
Positive phase 3 data from CONTACT-02 (prostate) and CABINET (neuroendocrine tumors) studies for cabozantinib.
Appointed Dr. Amy Peterson as CMO in August; in-licensed XL309 (USP1 inhibitor) from Insilico Medicine.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

EXELIXIS, INC. reported quarter ended September 30, 2023 results: revenue $471.9 million, net income $1.0 million, or $0.00 per share, basic and diluted.

Period: quarter ended September 30, 2023
Revenue: $471.9 million
Net income: $1.0 million, or $0.00 per share, basic and diluted
Result: reported results

Exact text from the filing

Exelixis Announces Third Quarter 2023 Financial Results and Provides Corporate Update - Total Revenues of $471.9 million, Cabozantinib Franchise U.S. Net Product Revenues of $426.5 million -

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EXELIXIS, INC. filing history →

Source: SEC EDGAR

accession 0000939767-23-000112

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