EXEL - Exelixis Q3 results beat on both lines as it full-year revenue range includes consensus
- Exelixis ( NASDAQ: EXEL ) saw its Q3 2022 financial results beat on the top and bottom lines while its full-year revenue estimate of $1.575B-$1.6B just included the consensus estimate of $1.6B
- The biotech saw its net income in the quarter surge ~92% to ~$73.2M compared to the prior year period ($0.23 EPS basic and diluted vs. $0.12).
- Revenue of ~$412M was a ~25% year-over-year increase. Exelixis was helped in the quarter by a 39% increase in sales compared to Q3 2021 of Cabometyx (cabozantinib) of ~$500M worldwide.
- The company ended the quarter with cash and cash equivalents of ~$2.1B, an ~11% increase from Dec. 31, 2021.
- Seeking Alpha's Quant Rating views Exelixis ( EXEL ) as a buy with strong ratings for growth and profitability .
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Exelixis Q3 results beat on both lines as it full-year revenue range includes consensus