Earnings Releases·Oct 29, 2026, 4:09 PM ET

Exelixis — Third Quarter 2026 Earnings Summary

Total revenues reached $658.7 million, up from $597.8 million in the prior year period, driven by a 11.4% increase in net product revenues to $604.9 million; GAAP net income rose to $218.1 million ($0.85 diluted EPS) from $193.6 million ($0.69 diluted EPS) year-over-year.
Fiscal 2026 guidance was maintained for total revenues ($2.500–$2.550 billion) and net product revenues ($2.300–$2.350 billion), with updated cost of goods sold guidance at approximately 4% and an effective tax rate range revised down to 16%–18%.
The company repurchased $402.1 million of common stock during the quarter, bringing total repurchases since March 2023 to $3.2 billion, while maintaining a disciplined capital deployment strategy focused on R&D and innovation.
Regulatory progress includes an FDA review extension for the zanzalintinib NDA in metastatic CRC to March 3, 2027, alongside the initiation of multiple pivotal trials including STELLAR-316 and ongoing enrollment in LITESPARK-033/034.
Strategic legal milestones include a settlement with Azurity Pharmaceuticals granting U.S. market rights starting December 1, 2030, and a Federal Circuit affirmation upholding three patents against MSN Laboratories with effective generic entry no earlier than January 15, 2030.