NVS - Why Is $7B Valued Cancer Focused Exelixis Trading Lower Today? | Benzinga
Sunday, Exelixis Inc (NASDAQ: EXEL) provided financial guidance for fiscal year 2024 and delivered an update on its business.
The company announced preliminary FY23 revenue of $1.83 billion versus the consensus of $1.84 billion, with net product revenues of ~ $1.630 billion.
For FY24, Exelixis forecasts revenues of $1.825 billion - $1.925 billion versus the consensus of $2.06 billion.
Exelixis authorized a $450 million share repurchase in 2024 after the $550 million share repurchase was completed in 2023.
The company announced corporate restructuring, resulting in a workforce reduction of approximately 175 employees or 13%.
Exelixis expects to complete the restructuring in the first quarter of 2024 and ...