Exelixis Reports Strong Q1 Growth with 31% Revenue Increase

Published 7 hours agoEXEL

Exelixis Reports Strong Q1 Growth with 31% Revenue Increase

Exelixis has posted a remarkable 31% increase in revenue for the first quarter of 2025, primarily driven by the robust performance of its leading product, CABOMETYX. This substantial revenue boost highlights the strong market position of CABOMETYX, which continues to be a significant contributor to the company's financial success.

In response to its impressive first-quarter performance, Exelixis has updated its fiscal year 2025 revenue guidance, projecting total revenues between $2.15 billion and $2.25 billion, and net product revenues between $1.95 billion and $2.05 billion. Additionally, the company is preparing for a significant regulatory milestone with the FDA setting a PDUFA target action date of April 3, 2025, for CABOMETYX in the treatment of advanced neuroendocrine tumors (NET). As of the latest update, the company maintains a solid financial footing with $1.75 billion in cash and marketable securities.

According to Reuters, Exelixis' stock traded at $36.95, showing a marginal increase from the previous close. The stock opened at $36.85, with an intraday high of $40.00 and a low of $36.29, and a trading volume of over 3.1 million shares. This steady performance on the stock market underscores investor confidence in the company's current strategic direction and financial health.

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