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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
CEO
Michael M. Morrissey
Employees
Incorporated
Location
Fiscal year end
Former names
EXELIXIS INC
SEC CIK
IRS number
43257395

EXEL stock data

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Press releases

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Exelixis Announces U.S. FDA Accepts Investigational New Drug Application for XB002 in Patients with Advanced Solid Tumors
5 Apr 21
– Promising preclinical data suggest best-in-class potential for XB002, a next-generation tissue factor-targeting antibody-drug conjugate – – Phase 1 clinical trial expected to begin in Q2 2021 – Exelixis, Inc.
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
– Approval based on CheckMate -9ER trial, in which CABOMETYX in combination with OPDIVO doubled progression-free survival and objective response rate while significantly improving overall survival versus sunitinib
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
– New expansion cohorts to be added to ongoing STELLAR-001 trial following dose-escalation phase – Exelixis, Inc. (NASDAQ:EXEL) today announced a clinical trial collaboration and supply agreement with Merck KGaA,
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
Quarter (USD)
Jan 21 Oct 20 Jul 20 Apr 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Jan 21 Jan 20 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

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

Beta Read what these cash burn values mean

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

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 Prev Q Change
Total holders 341 361 -5.5%
Opened positions 44 48 -8.3%
Closed positions 64 51 +25.5%
Increased positions 130 107 +21.5%
Reduced positions 112 141 -20.6%
13F shares
Current Prev Q Change
Total value 5.62B 6.19B -9.2%
Total shares 260.13M 253.23M +2.7%
Total puts 1.26M 1.61M -21.6%
Total calls 698.7K 587.1K +19.0%
Total put/call ratio 1.8 2.7 -34.1%
Largest owners
Shares Value Change
BLK Blackrock 31.39M $629.95M +2.5%
Vanguard 28.47M $571.39M +2.4%
Renaissance Technologies 21.68M $435.17M -4.3%
TROW T. Rowe Price 17.59M $353M +28.9%
FMR 12.75M $255.89M +2.7%
Meditor 12.61M $253.09M -1.8%
JPM JPMorgan Chase & Co. 11.66M $234.06M +19.4%
Farallon Capital Management 11M $220.77M +2.3%
STT State Street 10.23M $205.26M +11.7%
Pictet Asset Management 6.33M $127.14M -1.0%
Largest transactions
Shares Bought/sold Change
TROW T. Rowe Price 17.59M +3.95M +28.9%
POLR Polar Capital 0 -3.55M EXIT
JHG Janus Henderson 874.03K -3.54M -80.2%
Norges Bank 3.03M +3.03M NEW
Orbimed Advisors 0 -2.4M EXIT
Polar Capital 2.31M +2.31M NEW
Point72 Asset Management 3.37M +2.29M +212.8%
Assenagon Asset Management 2.21M +2.21M NEW
JPM JPMorgan Chase & Co. 11.66M +1.89M +19.4%
Candriam Luxembourg S.C.A. 2.31M +1.08M +88.5%

Financial report summary

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Risks
  • 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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