Quarterly ResultMay 5, 2026, 04:14 PM
Exelixis Authorizes New $750M Stock Repurchase Program; Q1 EPS $0.79
AI Summary
Exelixis announced its first quarter 2026 financial results, reporting total revenues of $610.8 million and GAAP diluted EPS of $0.79. Concurrently, the Board authorized a new stock repurchase program of up to an additional $750 million of common stock by December 31, 2027. The company also provided a corporate update, highlighting the FDA's acceptance of the New Drug Application for zanzalintinib in metastatic colorectal cancer and progress across its clinical development programs.
Key Highlights
- Board authorized new stock repurchase program of up to an additional $750 million by December 31, 2027.
- Total revenues for Q1 2026 were $610.8 million, up from $555.4 million in Q1 2025.
- Cabozantinib franchise U.S. net product revenues were $555.0 million, up from $513.3 million in Q1 2025.
- GAAP diluted EPS was $0.79 for Q1 2026, compared to $0.55 in Q1 2025.
- Non-GAAP diluted EPS was $0.87 for Q1 2026, compared to $0.62 in Q1 2025.
- FDA accepted NDA for zanzalintinib in metastatic CRC, with a target action date of December 3, 2026.
- Expects topline results from STELLAR-304 trial in the second half of 2026.
- Maintained previously provided fiscal year 2026 financial guidance.