Exelixis Inc. (NASDAQ:EXEL) on Monday reported its first quarter of 2025 adjusted earnings of 75 cents per share, compared to 85 cents a year ago, beating the consensus of 56 cents.
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The cancer-focused company reported quarterly sales of $568.3 million, missing the consensus of $571.27 million.
Total revenues for the quarter included cabozantinib franchise net product revenues of $520 million compared to $437.6 million for the comparable period in 2024. The increase in net product revenues was primarily due to increased sales volume.
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Guidance: Exelixis maintained its fiscal 2025 sales guidance of $2.25 billion-$2.35 billion compared to the consensus of $2.334 billion.
Pipeline update: In May, the company completed enrollment in the STELLAR-304 pivotal study in non-clear cell renal cell carcinoma. Depending on study event rates, top-line results are expected in the first half of 2026, a …