Exelixis Q1: revenue $425M, GAAP EPS $0.12, non-GAAP $0.17, restructuring $32.8M

EXELIXIS, INC.

2024-Q1 EPS reported $0.12 revenue$425,226,000

Total revenues $425.2M, up 4% YoY from $408.8M; cabozantinib U.S. net product revenues $378.5M, up from $363.4M.
GAAP net income $37.3M ($0.12 diluted EPS); non-GAAP net income $52.0M ($0.17 diluted EPS) vs $52.8M ($0.16) in Q1 2023.
Recorded $32.8M restructuring expenses (severance, asset impairment, contract termination) from January 2024 restructuring.
Pipeline: three ongoing pivotal trials for zanzalintinib; phase 1 studies for XB002 (ADC) and XL309 (USP1 inhibitor); up to three IND filings expected in 2024.
Ongoing cabozantinib IP litigation with MSN Pharmaceuticals; second bench trial ruling expected spring 2024.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

EXELIXIS, INC. reported First Quarter 2024 results: revenue $425 million, EPS $0.12.

Period: First Quarter 2024
Revenue: $425 million
EPS: $0.12
Result: reported results

Exact text from the filing

Exelixis Announces First Quarter 2024 Financial Results and Provides Corporate Update - Total Revenues of $425 million, Cabozantinib Franchise U.S. Net Product Revenues of $379 million - - Restructuring Expenses of $32.8 million Recorded - - GAAP Diluted EPS of $0.12, Non-GAAP Diluted EPS of $0.17 -

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Source: SEC EDGAR

accession 0000939767-24-000054

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