Exelixis Reports Strong Q3 2026 Growth Driven by Cabozantinib Sales
Exelixis (EXEL) delivered robust third-quarter 2026 financial results, reporting total revenues of $658.7 million, an increase from $597.8 million in the prior year. The growth was primarily driven by its cabozantinib franchise, with U.S. net product revenues rising 11% to $604.9 million due to higher sales volumes and increased average net selling prices. Non-GAAP diluted earnings per share rose to $0.94, up from $0.78 in Q3 2025. The company is aggressively expanding its market presence, capturing a 49% share of the oral TKI market. Looking ahead, Exelixis provided full-year revenue guidance of $2.5 billion to $2.55 billion and lowered its effective tax rate guidance to 16%-18%. While clinical trial sales remain volatile, management is focused on pipeline advancements, including the upcoming PDUFA date for zanzalintinib in March 2027.
Tickers: $EXEL
Topics: eps beat financial guidance market share revenue growth stock buyback