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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Exelixis
Exelixis (EXEL) investor relations material
Exelixis Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary29 Oct, 2026
Executive summary
Q3 2026 revenue was $658.7M, up 10% YoY; GAAP net income was $218.1M and diluted EPS was $0.85.
Cabozantinib growth and zanzalintinib development underpin a multi-franchise oncology strategy, with disciplined investment and shareholder returns.
9M revenue grew 10% YoY to $1.90B; operating cash flow was $839.5M and quarter-end cash and marketable securities totaled $1.40B.
Financial highlights
Q3 net product revenue was $604.9M, up 11% YoY; collaboration revenue was $53.8M, down 2% as higher license revenue was offset by lower services revenue.
GAAP operating income was $268.4M versus $236.5M; GAAP net income was $218.1M versus $193.6M.
Non-GAAP net income was $240.2M and diluted EPS was $0.94, excluding stock-based compensation net of tax.
R&D expense was $209.5M, up 5% YoY; SG&A was $154.6M, up 25%, reflecting personnel, clinical trial, marketing, legal and advisory costs.
CABOMETYX generated $603.2M in Q3 net product revenue; COMETRIQ revenue was $1.8M.
Outlook and guidance
FY 2026 revenue guidance remains $2.500B–$2.550B, including net product revenue of $2.300B–$2.350B.
FY 2026 COGS guidance is ~4% of net product revenue; R&D guidance remains $825M–$875M and SG&A $575M–$625M.
FY 2026 effective tax-rate guidance fell to 16%–18% from 21%–23%; revenue guidance excludes a potential U.S. zanzalintinib CRC approval and launch.
STELLAR-304 top-line results are expected in Q1 2027; positive results could support a second zanzalintinib NDA.
Gross margin is expected to remain broadly unchanged for the rest of 2026; higher R&D, clinical, launch-preparation and legal costs may affect spending.
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Latest events from Exelixis
- Zanzalintinib’s pivotal pipeline and CRC launch plans anchor a multi-franchise growth strategy.EXEL
Morgan Stanley 24th Annual Global Healthcare Conference - Q4 revenue rose 13% as CABOMETYX expansion and pipeline growth shaped 2024 priorities.EXELQ4 2023
- CABOMETYX and zanzalintinib drive growth across oncology franchises, with AI boosting efficiency.EXELCitigroup’s Biopharma Back to School Summit 2026
- CABO and zanza drive growth, with immediate CRC launch readiness and robust pipeline plans.EXELWells Fargo 21st Annual Healthcare Conference
- Q2 2026 revenue rose 11% to $629M, with strong cabozantinib sales and zanzalintinib NDA review.EXELQ2 2026
- Six pivotal Zanza studies and a $5B market aim drive growth through strategic partnerships and trial innovation.EXELJefferies Global Healthcare Conference 2025
- CABOMETYX and zanza drive oncology growth, with disciplined investment fueling pipeline and returns.EXELMorgan Stanley 23rd Annual Global Healthcare Conference
- Q2 2025 net product revenues rose 19% to $520M, driven by CABOMETYX and NET launch.EXELQ2 2025
- Q1 2025 revenue and net income surged, guidance was raised, and CABOMETYX led growth.EXELQ1 2025
Next Exelixis earnings date
Q4 20269 Feb, 2027
Exelixis
Next Exelixis earnings date
Q4 20269 Feb, 2027
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Frequently asked questions
Exelixis Inc is a biotechnology company focused on developing and commercializing small molecule therapies for cancer treatment. The company engages in drug discovery, clinical development, and partnerships targeting multiple oncology indications. The company is headquartered in Alameda, California, and its shares are listed on the NASDAQ.