Exelixis, Inc. EXEL reported better-than-expected fourth-quarter outcomes.
EXEL recorded earnings of 55 cents per share, which beat the Zacks Consensus Estimate of 51 cents. The corporate registered adjusted earnings of 33 cents per share within the year-ago quarter. The outperformance was primarily pushed by greater revenues.
Together with stock-based compensation expense, earnings have been 48 cents per share within the reported quarter.
Discover the newest EPS estimates and surprises on Zacks Earnings Calendar.
Internet revenues have been $566.7 million, which beat the Zacks Consensus Estimate of $563 million. The highest line surged 18.1% 12 months over 12 months.
Shares are down in pre-market buying and selling. Exelixis’ shares have surged 61% 12 months thus far in opposition to the industry’s decline of 11.7%.
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EXEL’s This fall in Particulars
Internet product revenues have been $515.2 million, up 20% 12 months over 12 months. The rise was primarily pushed by an increase in gross sales quantity and common web promoting value.
Cabometyx (cabozantinib) generated revenues of $512.8 million, which beat each the Zacks Consensus Estimate of $501 million and our mannequin estimate of $508.7 million. The drug is accepted for superior renal cell carcinoma (RCC) and beforehand handled hepatocellular carcinoma. Cometriq (cabozantinib capsules) generated $2.4 million in web product revenues for treating medullary thyroid most cancers.
Collaboration revenues, comprising license and collaboration companies revenues, totaled $51.5 million, up from $50.3 million within the year-ago quarter. The rise in collaboration revenues was pushed by royalty revenues for the gross sales of cabozantinib exterior of the nation, generated by collaboration companions (Ipsen Pharma and Takeda).
Analysis and improvement bills amounted to $249 million, up 1.8% 12 months over 12 months. The escalation was primarily associated to will increase in license and different collaboration prices, personnel bills and better manufacturing prices to assist improvement candidates.
Promoting, common and administrative bills totaled $134.3 million, up 2.2% 12 months over 12 months. This was primarily associated to will increase in personnel bills and stock-based compensation bills.
In August, Exelixis introduced that the board of administrators licensed the repurchase of as much as $500 million of its frequent inventory. As of Dec. 31, 2024, Exelixis had repurchased $205.6 million of the corporate’s frequent inventory.
EXEL’s 2024 Outcomes
Revenues in 2024 totaled $2.17 billion, up 18.5% from the 2023 stage. EPS of $2 was up from $0.90 in 2023.
These outcomes were in line with the preliminary results reported final month.
EXEL Reiterates Its 2025 Steerage
Exelixis reiterated its steerage for 2025. Revenues are anticipated to be between $2.15 billion and $2.25 billion. Internet product revenues are estimated to be within the vary of $1.95-$2.05 billion. Nonetheless, the present steerage excludes revenues from a possible approval of Cabometyx for the therapy of sufferers with beforehand handled superior neuroendocrine tumors (NET).
Analysis and Improvement bills are anticipated to be within the vary of $925-$975 million. Promoting, Common & Administrative bills are anticipated to be within the $475-$525 million vary.
Key Pipeline and Regulatory Updates From EXEL
The FDA accepted EXEL’s supplemental new drug software for cabozantinib for sufferers with beforehand handled superior pancreatic neuroendocrine tumors (pNET) and people with beforehand handled superior extra-pancreatic NET (epNET). It assigned a typical evaluation with a goal motion date of April 3, 2025.
In January 2025, outcomes from an growth cohort of the part Ib/II STELLAR-001 trial evaluating zanzalintinib alone or together with Tecentriq (atezolizumab) in sufferers with beforehand handled metastatic metastatic colorectal most cancers have been introduced.
Outcomes confirmed that each one efficacy parameters, together with goal response fee, PFS and general survival favored the mixture of zanzalintinib plus Tecentriq versus zanzalintinib monotherapy within the general inhabitants in addition to in a subgroup of sufferers with out liver metastases.
In November 2024, Exelixis initiated the dose-escalation stage of the first-in-human part I examine of XL495 in sufferers with superior stable tumors.
Exelixis has collaborated with pharma big Merck MRK to guage zanzalintinib together with its blockbuster anti-PD-1 remedy Keytruda (pembrolizumab) in a late-stage examine for treating sufferers with head and neck squamous cell carcinoma (HNSCC).
Per the phrases of the settlement, Merck will provide Keytruda for the continued, Exelixis-sponsored part III STELLAR-305 examine in beforehand untreated PD-L1 constructive recurrent or metastatic HNSCC.
Merck may also sponsor a part I/II examine and two part III research evaluating zanzalintinib together with Welireg, its oral hypoxia-inducible factor-2 alpha (HIF-2α) inhibitor, in RCC. Merck will fund considered one of these part III research, and Exelixis will co-fund the part I/II trial and the opposite part III examine in addition to provide zanzalintinib and cabozantinib.
Exelixis, Inc. Worth, Consensus and EPS Shock
Exelixis, Inc. price-consensus-eps-surprise-chart | Exelixis, Inc. Quote
Our Tackle EXEL’s This fall Efficiency
Exelixis’ fourth-quarter outcomes have been first rate, with each the highest and backside traces beating their respective estimates. Cabometyx maintained its standing because the main TKI for RCC, each within the front-line IO+TKI market and the second-line monotherapy phase.
The potential label growth of the drug in NET ought to enhance gross sales of the drug.
EXEL’s efforts to develop different pipeline candidates look spectacular.
EXEL can also be evaluating XL309, a probably best-in-class small molecule inhibitor of USP1, in a part I examine as a single agent and together with olaparib, a PARP1/2 inhibitor, in sufferers with superior stable tumors. Exelixis has additionally initiated the event of XB010.
As well as, three biotherapeutics applications are focused for medical improvement in 2025, particularly XB628 PD-L1-NKG2A bispecific antibody, XB064 ILT-2 monoclonal antibody and XB371 TF-topoisomerase I inhibitor ADC.
The profitable improvement of further medicine ought to broaden the corporate’s portfolio and scale back dependence on its lead drug, Cabometyx.
EXEL’s Zacks Rank & Shares to Contemplate
Exelixis at present carries a Zacks Rank #3 (Maintain). A few better-ranked shares within the biotech sector are Immunocore Holdings plc IMCR and Alnylam Prescribed drugs ALNY. Whereas IMCR sports activities a Zacks Rank #1 (Sturdy Purchase) at current, ALNY carries a Zacks Rank #2 (Purchase). You’ll be able to see the complete list of today’s Zacks #1 Rank stocks here.
Previously 90 days, estimates for Immunocore’s 2024 loss per share have remained unchanged at 94 cents. Loss per share estimates for 2025 have narrowed from $1.66 to $1.62 previously seven days.
IMCR’s earnings beat estimates in two of the trailing 4 quarters and missed the identical within the different two, the typical shock being 25.57%.
Previously 30 days, estimates for Alnylam Prescribed drugs’ 2024 loss per share have remained fixed at 39 cents. The consensus estimate for 2025 earnings per share is at present pegged at 41 cents.
ALNY’s earnings beat estimates in three of the trailing 4 quarters and met as soon as, delivering a mean shock of 65.67%.
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