EXELIXIS, INC. — Form 8-K
Filed August 5, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 48/100
What the filing says
Exelixis reported Q2 2026 total revenues of $628.7M (vs. $568.3M YoY), with cabozantinib U.S. net product revenues of $573.0M (vs. $520.0M). GAAP diluted EPS $0.82; non-GAAP $0.91. The company lowered FY2026 guidance: total revenues to $2.500–$2.550B (from $2.525–$2.625B), net product revenues to $2.300–$2.350B (from $2.325–$2.425B), and R&D expenses to $825–$875M (from $875–$925M). Zanzalintinib NDA for metastatic CRC with atezolizumab remains under FDA review with December 3, 2026 PDUFA date. Company repurchased $311.6M of stock (completed $750M October 2025 program) and authorized new $750M buyback for 2027.
Why this rating
Solid revenue beat (~10% YoY growth) and EPS accretion offset by guidance cut (R&D $50M lower) and delayed zanzalintinib monetization. Material pipeline catalyst pending but not yet approved. Typical pharma quarterly results relative to $9.4B market cap.
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