Exelixis ( (EXEL) ) has released its Q4 earnings. Here is a breakdown of the information Exelixis presented to its investors.
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Exelixis, Inc., a biotechnology company focused on the development of therapies for cancer treatment, reported robust financial results for the fourth quarter and full fiscal year 2024, driven by strong sales of its flagship product, CABOMETYX.
The company achieved total revenues of $567 million for the fourth quarter and $2.17 billion for the fiscal year, marking notable growth from the previous year. Key highlights include the cabozantinib franchise’s impressive $1.81 billion in U.S. net product revenues for the year. Exelixis also reported GAAP diluted earnings per share of $0.48 for the quarter and $1.76 for the year.
Exelixis’ financial performance was bolstered by increased sales volume and pricing, as well as higher royalty revenues from international collaboration partners. The company also advanced its research endeavors, notably with the promising development of zanzalintinib, which is expected to define the next phase of its oncology pipeline. Exelixis plans to continue expanding its pipeline with pivotal trial milestones and collaborations with major partners like Merck.
Looking ahead, Exelixis maintains a positive outlook for 2025, with anticipated growth driven by potential regulatory approvals and strategic partnerships. The company’s focus remains on enhancing its product offerings and advancing its clinical pipeline to improve cancer treatment outcomes.
