EXEL Exelixis

Exelixis, Inc. is a biopharmaceutical company, which engages in the development, commercialization, and discovery of new medicines for the treatment of cancer. It offers products under the brands of Cometriq, Cabometyx, and Cotellic. The company was founded by Corey S. Goodman and Stelios B. Papadopoulos on November 15, 1994 and is headquartered in Alameda, CA.
Company profile
Ticker
EXEL
Exchange
Website
CEO
Michael M. Morrissey
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
AMGEN • Gilead Sciences • Biogen • Qiagen • Moderna • BioNTech SE • Bio-Techne • Enzon Pharmaceuticals • Denali Therapeutics • Allogene Therapeutics ...
Former names
EXELIXIS INC
SEC CIK
Corporate docs
IRS number
43257395
EXEL stock data
()
News
Exelixis Announces US FDA Accepts Investigational New Drug Application For XB002 In Patients With Advanced Solid Tumors; Says Phase 1 Clinical Trial Expected To Begin In Q2 2021
5 Apr 21
Royalty Pharma Buys Royalty Interest In Cabozantinib Products From GSK
1 Apr 21
Benzinga's Top Ratings Upgrades, Downgrades For March 31, 2021
31 Mar 21
The Daily Biotech Pulse: Pfizer Vaccine 100% Effective In Adolescents, Equillium Readout, Amgen Goes Shopping, Achilles IPO
31 Mar 21
Credit Suisse Initiates Coverage On Exelixis with Outperform Rating, Announces Price Target of $30
31 Mar 21
Press releases
Exelixis Announces U.S. FDA Accepts Investigational New Drug Application for XB002 in Patients with Advanced Solid Tumors
5 Apr 21
Exelixis' Partner Ipsen Receives European Commission Approval for CABOMETYX® (cabozantinib) in Combination with OPDIVO® (nivolumab) as First-Line Treatment for Patients with Advanced Renal Cell Carcinoma
31 Mar 21
Exelixis Announces Clinical Trial Collaboration and Supply Agreement with Merck KGaA, Darmstadt, Germany and Pfizer to Evaluate XL092 and Avelumab in Various Forms of Locally Advanced or Metastatic Urothelial Carcinoma
18 Mar 21
Exelixis' Partner Ipsen Receives Positive CHMP Opinion for CABOMETYX® (cabozantinib) in Combination with OPDIVO® (nivolumab) as a First-Line Treatment for Patients with Advanced Renal Cell Carcinoma
26 Feb 21
Exelixis to Webcast Fireside Chats as Part of Virtual Investor Conferences in March
25 Feb 21
Calendar
10 Feb 21
13 Apr 21
31 Dec 21
Financial summary
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Jan 21 | Jan 20 | Dec 18 | Dec 17 | |
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Financial data from Exelixis earnings reports.
Cash burn rate (estimated) | Burn method: Change in cash | Burn method: Operating income/loss | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 320.77M | 320.77M | 320.77M | 320.77M | 320.77M | 320.77M |
Cash burn (monthly) | 4.97M | (positive/no burn) | (positive/no burn) | (positive/no burn) | (positive/no burn) | (positive/no burn) |
Cash used (since last report) | 17.09M | n/a | n/a | n/a | n/a | n/a |
Cash remaining | 303.69M | n/a | n/a | n/a | n/a | n/a |
Runway (months of cash) | 61.1 | n/a | n/a | n/a | n/a | n/a |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
1 Apr 21 | Gisela Schwab | Common Stock | Sell | Dispose S | No | Yes | 23 | 50,000 | 1.15M | 613,482 |
1 Apr 21 | Gisela Schwab | Common Stock | Option exercise | Aquire M | No | No | 1.7 | 50,000 | 85K | 663,482 |
1 Apr 21 | Gisela Schwab | Option Common Stock | Option exercise | Dispose M | No | No | 1.7 | 50,000 | 85K | 50,000 |
1 Apr 21 | Lamb Peter | Common Stock | Sell | Dispose S | No | Yes | 22.96 | 60,000 | 1.38M | 389,467 |
1 Apr 21 | Lamb Peter | Common Stock | Option exercise | Aquire M | No | No | 1.7 | 60,000 | 102K | 449,467 |
1 Apr 21 | Lamb Peter | Option Common Stock | Option exercise | Dispose M | No | No | 1.7 | 60,000 | 102K | 0 |
29 Mar 21 | Wyszomierski Jack L | Common Stock | Sell | Dispose S | No | Yes | 22.64 | 6,220 | 140.82K | 231,589 |
29 Mar 21 | Wyszomierski Jack L | Common Stock | Option exercise | Aquire M | No | No | 3.38 | 40,000 | 135.2K | 237,809 |
29 Mar 21 | Wyszomierski Jack L | Option Common Stock | Option exercise | Dispose M | No | No | 3.38 | 40,000 | 135.2K | 0 |
15 Mar 21 | Garber Alan M | Common Stock | Sell | Dispose S | No | Yes | 23.6 | 40,000 | 944K | 12,718 |
Institutional ownership Q4 2020
Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.
83.4% owned by funds/institutions
13F holders |
Current |
---|---|
Total holders | 341 |
Opened positions | 44 |
Closed positions | 64 |
Increased positions | 130 |
Reduced positions | 112 |
13F shares |
Current |
---|---|
Total value | 5.62B |
Total shares | 260.13M |
Total puts | 1.26M |
Total calls | 698.7K |
Total put/call ratio | 1.8 |
Largest owners |
Shares | Value |
---|---|---|
BLK Blackrock | 31.39M | $629.95M |
Vanguard | 28.47M | $571.39M |
Renaissance Technologies | 21.68M | $435.17M |
TROW T. Rowe Price | 17.59M | $353M |
FMR | 12.75M | $255.89M |
Meditor | 12.61M | $253.09M |
JPM JPMorgan Chase & Co. | 11.66M | $234.06M |
Farallon Capital Management | 11M | $220.77M |
STT State Street | 10.23M | $205.26M |
Pictet Asset Management | 6.33M | $127.14M |
Financial report summary
?Competition
Pfizer • AMGEN • Celgene • Incyte • Gilead Sciences • Astrazeneca • Nektar Therapeutics • Mckesson • Argos Therapeutics • CurisRisks
- Our ability to grow our company is critically dependent upon the commercial success of CABOMETYX in its approved indications and the further clinical development, regulatory approval and commercial success of the cabozantinib franchise in additional indications.
- Our ability to grow revenues from sales of CABOMETYX will depend upon the degree of market acceptance among physicians, patients, healthcare payers, and the medical community.
- Our competitors may develop products, combination therapies and technologies that impair the relative value of our marketed products and any future product candidates.
- If we are unable to maintain or increase our sales, marketing, market access and product distribution capabilities for our products, we may be unable to maximize product revenues, which could have a material adverse impact on our business, financial condition and results of operations.
- If we are unable to obtain or maintain coverage and reimbursement for our products from third-party payers, our business will suffer.
- Current healthcare laws and regulations in the U.S. and future legislative or regulatory reforms to the U.S. healthcare system may affect our ability to commercialize our marketed products profitably.
- Pricing for pharmaceutical products in the U.S. has come under increasing attention and scrutiny by federal and state governments, legislative bodies and enforcement agencies. These activities may result in actions that have the effect of reducing our revenue or harming our business or reputation.
- Lengthy regulatory pricing and reimbursement procedures and cost control initiatives imposed by governments outside the U.S. could delay the marketing of and/or result in downward pressure on the price of our approved products, resulting in a decrease in revenue.
- Legislation and regulatory action designed to facilitate the development, approval and adoption of generic drugs in the U.S., and the entrance of generic competitors, could limit the revenue we derive from our products, which could have a material adverse impact on our business, financial condition and results of operations.
- We are subject to healthcare laws, regulations and enforcement; our failure to comply with those laws could have a material adverse impact on our business, financial condition and results of operations.
- We are subject to laws and regulations relating to privacy, data protection and the collection and processing of personal data. Failure to maintain compliance with these regulations could create additional liabilities for us.
- Clinical testing of cabozantinib for new indications, or of new product candidates, is a lengthy, costly, complex and uncertain process that may fail ultimately to demonstrate safety and efficacy for those products sufficiently impressive to compete in our highly competitive market environment.
- The regulatory approval processes of the FDA and comparable foreign regulatory authorities are lengthy and uncertain and may not result in regulatory approvals for cabozantinib or our other product candidates, which could have a material adverse impact on our business, financial condition and results of operations.
- We may be unable to expand our development pipeline, which could limit our growth and revenue potential.
- Our profitability could be negatively impacted if expenses associated with our extensive clinical development, business development and commercialization activities, both for the cabozantinib franchise and our earlier-stage product candidates, grow more quickly than the revenues we generate.
- If additional capital is not available to us when we need it, we may be unable to expand our product offerings and maintain business growth.
- We rely on Ipsen and Takeda for the commercial success of CABOMETYX in its approved indications outside of the U.S., and are unable to control the amount or timing of resources expended by these collaboration partners in the commercialization of CABOMETYX in its approved indications outside of the U.S.
- Our clinical, regulatory and commercial collaborations with major companies make us reliant on those companies for their continued performance, which subjects us to a number of risks.
- Our growth potential is dependent in part upon companies with which we have entered into research collaborations, in-licensing arrangements and similar business development relationships.
- If third parties upon which we rely to perform clinical trials for cabozantinib in new indications or for new potential product candidates do not perform as contractually required or expected, we may not be able to obtain regulatory approval for or commercialize cabozantinib or other product candidates beyond currently approved indications.
- We lack our own manufacturing and distribution capabilities necessary for us to produce materials required for certain preclinical activities and to produce and distribute our products for clinical development or for commercial sale, and our reliance on third parties for these services subjects us to various risks.
- If third-party scientific advisors and contractors we rely on to assist with our drug discovery efforts do not perform as expected, the expansion of our product pipeline may be delayed.
- Data breaches, cyber attacks and other failures in our information technology operations and infrastructure could compromise our intellectual property or other sensitive information, damage our operations and cause significant harm to our business and reputation.
- If we are unable to adequately protect our intellectual property, third parties may be able to use our technology, which could adversely affect our ability to compete in the market.
- Litigation or third-party claims of intellectual property infringement could require us to spend substantial time and money and adversely affect our ability to develop and commercialize products.
- If the COVID-19 pandemic is further prolonged or becomes more severe, our business operations and corresponding financial results could suffer, which could have a material adverse impact on our financial condition and prospects for growth.
- If we are unable to manage our growth, there could be a material adverse impact on our business, financial condition and results of operations, and our prospects may be adversely affected.
- The loss of key personnel or the inability to retain and, where necessary, attract additional personnel could impair our ability to operate and expand our operations.
- We use hazardous chemicals and biological materials in our business. Any claims relating to improper handling, storage or disposal of these materials could be time consuming and costly.
- We face potential product liability exposure far in excess of our limited insurance coverage.
- Our stock price has been and may in the future be highly volatile.
- Anti-takeover provisions in our charter documents and under Delaware law could make an acquisition of us, which may be beneficial to our stockholders, more difficult and may prevent or deter attempts by our stockholders to replace or remove our current management, which could cause the market price of our common stock to decline.
Management Discussion
- During 2020, we continued to execute on our business objectives, generating significant revenue from operations and enabling us to continue to seek to maximize the clinical and commercial potential of our products and expand our product pipeline. Significant business updates and financial highlights for 2020 and subsequent to year-end include:
- •In January 2020, clinically meaningful data from CheckMate 040, the phase 1/2 trial evaluating cabozantinib in combination with nivolumab and in combination with both nivolumab and ipilimumab in patients with previously treated or previously untreated advanced HCC, were presented at the ASCO Gastrointestinal Cancers Symposium.
- •In February 2020, we presented clinically meaningful results from the mCRPC cohort of COSMIC-021 at the ASCO Genitourinary Cancers Symposium.
Content analysis
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Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. junior Avg
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New words:
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Removed:
add, aim, alongside, Amgen, antiangiogenic, applying, AstraZeneca, avelumab, AVEO, backlog, built, Cadillac, call, capitalize, carried, choice, commercialized, communicate, comparison, conceal, concentrating, conditioned, consultation, continuity, crizotinib, deficit, dictate, disaster, distraction, diversion, doubled, doublet, doubtful, earthquake, educating, England, entirety, espionage, evaluable, favoring, Francisco, frequency, fundamental, glesatinib, hacker, hamper, harder, image, inappropriate, incorrect, inferred, inform, interpretation, judge, judged, Lancet, malpractice, mandate, match, media, motive, mutant, navigate, nonstatutory, obligated, occasion, occurrence, oncologic, packaging, panitumumab, parallel, partial, percent, physical, ponatinib, poor, PR, preparing, productive, propriety, prosecute, prosecution, PRs, publicly, qui, radiology, reinvesting, relinquish, renew, repeat, request, resolve, run, sabotage, San, savolitinib, SD, seasonality, selecting, session, smaller, stable, stipulated, stopped, subgroup, successive, surveillance, sustain, tam, tangible, terrorism, theft, tivozanib, transition, tremelimumab, trend, UK, unavailable, uncollectible, unexpected, unused, validation, vested, violated, wrongfully
Financial reports
10-K
2020 FY
Annual report
10 Feb 21
10-Q
2020 Q3
Quarterly report
5 Nov 20
10-Q
2020 Q2
Quarterly report
6 Aug 20
10-Q
2020 Q1
Quarterly report
5 May 20
10-K
2019 FY
Annual report
25 Feb 20
10-Q
2019 Q3
Quarterly report
30 Oct 19
10-Q
2019 Q2
Quarterly report
31 Jul 19
10-Q
2019 Q1
Quarterly report
1 May 19
10-K
2018 FY
Annual report
22 Feb 19
10-Q
2018 Q3
Quarterly report
1 Nov 18
Current reports
8-K
2021 FY
Departure of Directors or Certain Officers
5 Mar 21
8-K
Material Modifications to Rights of Security Holders
3 Mar 21
8-K
Exelixis Announces Fourth Quarter and Full Year 2020 Financial Results and Provides Corporate Update
10 Feb 21
8-K
2020 FY
Departure of Directors or Certain Officers
5 Feb 21
8-K
Results of Operations and Financial Condition
11 Jan 21
8-K
Exelixis Announces Third Quarter 2020 Financial Results and Provides Corporate Update
5 Nov 20
8-K
Exelixis Announces Second Quarter 2020 Financial Results and Provides Corporate Update
6 Aug 20
8-K
Departure of Directors or Certain Officers
22 May 20
8-K
Other Events
11 May 20
8-K
Exelixis Announces First Quarter 2020 Financial Results and Provides Corporate Update
5 May 20
Registration and prospectus
S-8
Registration of securities for employees
6 Aug 20
S-8 POS
Registration of securities for employees (post-effective amendment)
1 Aug 18
S-8 POS
Registration of securities for employees (post-effective amendment)
1 Aug 18
S-8 POS
Registration of securities for employees (post-effective amendment)
1 Aug 18
S-8 POS
Registration of securities for employees (post-effective amendment)
1 Aug 18
S-8 POS
Registration of securities for employees (post-effective amendment)
1 Aug 18
S-8 POS
Registration of securities for employees (post-effective amendment)
1 Aug 18
S-8 POS
Registration of securities for employees (post-effective amendment)
1 Aug 18
S-8 POS
Registration of securities for employees (post-effective amendment)
1 Aug 18
S-8 POS
Registration of securities for employees (post-effective amendment)
1 Aug 18
Proxies
DEFA14A
Additional proxy soliciting materials
9 Apr 20
DEF 14A
Definitive proxy
9 Apr 20
DEFA14A
Additional proxy soliciting materials
8 May 19
DEFA14A
Additional proxy soliciting materials
8 May 19
DEFA14A
Additional proxy soliciting materials
11 Apr 19
DEF 14A
Definitive proxy
11 Apr 19
PRE 14A
Preliminary proxy
28 Mar 19
DEFA14A
Additional proxy soliciting materials
11 Apr 18
DEF 14A
Definitive proxy
11 Apr 18
DEFA14A
Additional proxy soliciting materials
10 May 17
Other
CT ORDER
Confidential treatment order
30 Apr 20
CT ORDER
Confidential treatment order
30 Apr 20
CT ORDER
Confidential treatment order
11 Mar 19
CT ORDER
Confidential treatment order
19 Nov 18
CT ORDER
Confidential treatment order
13 Aug 18
CT ORDER
Confidential treatment order
8 Apr 18
CT ORDER
Confidential treatment order
8 Apr 18
CT ORDER
Confidential treatment order
8 Apr 18
CT ORDER
Confidential treatment order
8 Apr 18
CT ORDER
Confidential treatment order
4 Mar 18
Ownership
4
EXELIXIS / Peter Lamb ownership change
2 Apr 21
4
EXELIXIS / Gisela Schwab ownership change
2 Apr 21
4
EXELIXIS / JACK L WYSZOMIERSKI ownership change
31 Mar 21
4
EXELIXIS / Alan M Garber ownership change
17 Mar 21
4
EXELIXIS / MICHAEL MORRISSEY ownership change
5 Mar 21
4
EXELIXIS / Gisela Schwab ownership change
5 Mar 21
4
EXELIXIS / Jeffrey Hessekiel ownership change
5 Mar 21
4
EXELIXIS / Christopher J. Senner ownership change
5 Mar 21
4
EXELIXIS / Patrick J. Haley ownership change
5 Mar 21
4
EXELIXIS / Peter Lamb ownership change
5 Mar 21
Patents
APP
Utility
Compounds for the Treatment of Kinase-Dependent Disorders
11 Feb 21
Inventors: Lynne Canne Bannen, Minna Bui, Faming Jiang, Kin Tso, Yong Wang, Wei Xu
APP
Utility
Triple Negative Breast Cancer Treatment Method
4 Feb 21
Disclosed is a method of treating triple negative breast cancer in a human patient, comprising administering to the patient an amount of cabozantinib or a pharmaceutically acceptable salt thereof, wherein the amount of cabozantinib is sufficient to activate the immune system.
APP
Utility
Compounds for the Treatment of Kinase-Dependent Disorders
4 Feb 21
Inventors: Lynne Canne Bannen, Minna Bui, Faming Jiang, Yong Wang, Wei Xu
APP
Utility
Malate salt of N-(4-{[6,7-bis(methyloxy) quinolin-4-yl]oxy}phenyl)-N'-(4-fluorophenyl)cyclopropane-1,1-dicarboxamide, and crystalline forms therof for the treatment of cancer
28 Jan 21
Disclosed are malate salts of N-(4-{[6,7-bis(methyloxy)-quinolin-4-yl]oxy}phenyl)-N′-(4-fluorophenyl)cyclopropane-1,1-dicarboxamide, including a (L)-malate salt, a (D)-malate salt, a (DL) malate salt, and mixtures thereof; and crystalline and amorphous forms of the malate salts.
APP
Utility
Metabolites of N-(4-{[6,7-Bis(methyloxy)quinolin-4-yl]oxy}phenyl)-N'-(4-fluorophenyl)cyclopropane-1,1-dicarboxamide
6 Jan 21
Inventors: Dana T. Aftab, Sriram Naganathan, Wei Xu, Steven Lacy, Linh Nguyen
Transcripts
2020 Q4
Earnings call transcript
11 Feb 21
2020 Q3
Earnings call transcript
6 Nov 20
2020 Q2
Earnings call transcript
7 Aug 20
2020 Q1
Earnings call transcript
5 May 20
2019 Q4
Earnings call transcript
25 Feb 20
2019 Q3
Earnings call transcript
31 Oct 19
2019 Q2
Earnings call transcript
1 Aug 19
2019 Q1
Earnings call transcript
2 May 19
2018 Q4
Earnings call transcript
13 Feb 19
2018 Q3
Earnings call transcript
1 Nov 18
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