Exelixis Q2 revenue $637M, GAAP EPS $0.77; $500M buyback, FDA accepts cabozantinib sNDA

EXELIXIS, INC.

2024-Q2 EPS reported $0.88 revenue$1,062,404,000

Total revenues $637.2M vs $469.8M YoY; cabozantinib U.S. net product revenues $437.6M.
GAAP diluted EPS $0.77 vs $0.25 YoY; non-GAAP diluted EPS $0.84 vs $0.31.
FDA accepted sNDA for cabozantinib in advanced NET; target action date April 3, 2025.
Earned $150M milestone from Ipsen; completed $450M buyback; new $500M buyback authorized through 2025.
Discontinued XB002 development; plans to initiate phase 3 for zanzalintinib in NET.

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