---
schema_version: "secwatch.filing_event.v1"
accession: "0000939767-23-000112"
form_type: "8-K"
ticker: "EXEL"
cik: "0000939767"
company_name: "EXELIXIS, INC."
filed_at: "2023-11-01T23:59:59+00:00"
generated_at: "2026-06-09T03:56:54.853028+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000939767-23-000112
- form_type: 8-K
- ticker: EXEL
- cik: 0000939767
- company_name: EXELIXIS, INC.
- filed_at: 2023-11-01T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/939767/000093976723000112/0000939767-23-000112-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/939767/000093976723000112/exel-20231101.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000939767-23-000112
- JSON: https://secwatch.observer/filing/0000939767-23-000112.json
- Plain text: https://secwatch.observer/filing/0000939767-23-000112.txt

## Key facts
- Earnings Releases
  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
  source text: 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 -
  evidence_url: https://www.sec.gov/Archives/edgar/data/939767/000093976723000112/0000939767-23-000112-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.