Exelixis — Third Quarter 2026 Earnings Summary

Exelixis, Inc. reported third-quarter 2026 total revenues of $658.7 million, driven by $604.9 million in net product revenues from its cabozantinib franchise. The company achieved a GAAP diluted earnings per share of $0.85 and a non-GAAP diluted earnings per share of $0.94 for the period. Financial guidance for the full year 2026 remains unchanged, projecting total revenues between $2.500 billion and $2.550 billion. Key operational updates include the initiation of the phase 3 STELLAR-316 trial for zanzalintinib in colorectal cancer and the expectation of topline results from the STELLAR-304 trial in the first quarter of 2027.