Quarterly ResultAug 5, 2026, 04:19 PM
Exelixis Q2 Revenue $628.7M, Diluted EPS $0.82; Updates FY26 Guidance
AI Summary
Exelixis reported strong financial results for the second quarter of 2026, with total revenues increasing to $628.7 million and GAAP diluted EPS rising to $0.82. The company also provided an update on its pipeline, including the FDA's acceptance of the New Drug Application for zanzalintinib in metastatic colorectal cancer with a PDUFA date set for December 3, 2026. However, Exelixis adjusted its full-year 2026 financial guidance, slightly lowering total and net product revenue expectations while also reducing R&D expense guidance. The company continued its stock repurchase program, completing a $750 million authorization and approving an additional $750 million.
Key Highlights
- Total revenues for Q2 2026 were $628.7 million, up from $568.3 million in Q2 2025.
- GAAP diluted EPS for Q2 2026 was $0.82, compared to $0.65 in Q2 2025.
- Non-GAAP diluted EPS for Q2 2026 was $0.91, up from $0.75 in Q2 2025.
- Updated FY 2026 total revenue guidance to $2.500 billion - $2.550 billion (previously $2.525 billion - $2.625 billion).
- Updated FY 2026 net product revenue guidance to $2.300 billion - $2.350 billion (previously $2.325 billion - $2.425 billion).
- FDA accepted NDA for zanzalintinib in combination with atezolizumab for metastatic CRC, with a PDUFA date of December 3, 2026.
- Repurchased $311.6 million of stock in Q2 2026, completing the October 2025 SRP and authorizing an additional $750 million SRP.
- Topline results for Phase 3 STELLAR-304 trial expected in the second half of 2026.
Price Impact
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