Exelixis, Inc. Files 10-Q for Period Ending March 29, 2024
Ticker: EXEL · Form: 10-Q · Filed: Apr 30, 2024 · CIK: 939767
Sentiment: neutral
Topics: 10-Q, Exelixis, Financial Report, Quarterly Filing, Biotechnology
TL;DR
<b>Exelixis, Inc. has filed its quarterly report (10-Q) for the period ending March 29, 2024, providing an update on its financial performance and business operations.</b>
AI Summary
EXELIXIS, INC. (EXEL) filed a Quarterly Report (10-Q) with the SEC on April 30, 2024. Exelixis, Inc. filed a 10-Q report for the period ending March 29, 2024. The filing covers the first quarter of fiscal year 2024. Key financial data from previous periods (e.g., December 30, 2023, and March 31, 2023) are referenced. The company's business address is 1851 Harbor Bay Parkway, Alameda, CA 94502. The SIC code for Exelixis, Inc. is 2836, indicating Biological Products (No Diagnostic Substances).
Why It Matters
For investors and stakeholders tracking EXELIXIS, INC., this filing contains several important signals. This 10-Q filing provides investors with the latest financial snapshot of Exelixis, Inc., crucial for understanding its performance in the first quarter of 2024. The detailed financial information within the report allows for analysis of revenue streams, operational costs, and overall financial health, aiding investment decisions.
Risk Assessment
Risk Level: — EXELIXIS, INC. shows moderate risk based on this filing. The filing is a standard 10-Q report, indicating routine disclosure of financial information rather than an event that would inherently increase risk.
Analyst Insight
Review the detailed financial statements and segment information in the 10-Q to assess Exelixis's Q1 2024 performance and compare it to prior periods.
Key Numbers
- 2024-03-29 — Period of Report (CONFORMED PERIOD OF REPORT)
- 2024-04-30 — Filed As Of Date (FILED AS OF DATE)
- 2024 Q1 — Quarter (2024 Q1)
- 000-30235 — SEC File Number (SEC FILE NUMBER)
Key Players & Entities
- EXELIXIS, INC. (company) — COMPANY CONFORMED NAME
- 0000939767 (company) — CENTRAL INDEX KEY
- 2836 (company) — STANDARD INDUSTRIAL CLASSIFICATION
- 1851 HARBOR BAY PARKWAY (company) — BUSINESS ADDRESS
- ALAMEDA (company) — CITY
- CA (company) — STATE
- 94502 (company) — ZIP
- 6508377000 (company) — BUSINESS PHONE
FAQ
When did EXELIXIS, INC. file this 10-Q?
EXELIXIS, INC. filed this Quarterly Report (10-Q) with the SEC on April 30, 2024.
What is a 10-Q filing?
A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by EXELIXIS, INC. (EXEL).
Where can I read the original 10-Q filing from EXELIXIS, INC.?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by EXELIXIS, INC..
What are the key takeaways from EXELIXIS, INC.'s 10-Q?
EXELIXIS, INC. filed this 10-Q on April 30, 2024. Key takeaways: Exelixis, Inc. filed a 10-Q report for the period ending March 29, 2024.. The filing covers the first quarter of fiscal year 2024.. Key financial data from previous periods (e.g., December 30, 2023, and March 31, 2023) are referenced..
Is EXELIXIS, INC. a risky investment based on this filing?
Based on this 10-Q, EXELIXIS, INC. presents a moderate-risk profile. The filing is a standard 10-Q report, indicating routine disclosure of financial information rather than an event that would inherently increase risk.
What should investors do after reading EXELIXIS, INC.'s 10-Q?
Review the detailed financial statements and segment information in the 10-Q to assess Exelixis's Q1 2024 performance and compare it to prior periods. The overall sentiment from this filing is neutral.
How does EXELIXIS, INC. compare to its industry peers?
Exelixis, Inc. operates in the biotechnology sector, focusing on the discovery, development, and commercialization of small molecule drugs. The company's primary therapeutic area is oncology.
Are there regulatory concerns for EXELIXIS, INC.?
As a publicly traded company, Exelixis, Inc. is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the filing of quarterly (10-Q) and annual (10-K) reports.
Industry Context
Exelixis, Inc. operates in the biotechnology sector, focusing on the discovery, development, and commercialization of small molecule drugs. The company's primary therapeutic area is oncology.
Regulatory Implications
As a publicly traded company, Exelixis, Inc. is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the filing of quarterly (10-Q) and annual (10-K) reports.
What Investors Should Do
- Analyze the revenue and expense details for Q1 2024.
- Compare key financial metrics to the same period in the previous year.
- Review any disclosed risk factors or significant business developments.
Key Dates
- 2024-03-29: Quarterly Period End — End of the reporting period for the 10-Q filing.
- 2024-04-30: Filing Date — Date the 10-Q report was officially filed with the SEC.
Year-Over-Year Comparison
This filing represents the standard quarterly update for Exelixis, Inc., providing financial and operational details for the period ending March 29, 2024.
Filing Stats: 4,393 words · 18 min read · ~15 pages · Grade level 16.5 · Accepted 2024-04-30 16:32:46
Key Financial Figures
- $0.001 — ange on which registered Common Stock, $0.001 Par Value per Share EXEL The Nasdaq Sto
Filing Documents
- exel-20240329.htm (10-Q) — 1075KB
- exel20240331exhibit32.htm (EX-3.2) — 23KB
- exel20240331exhibit31110-q.htm (EX-31.1) — 9KB
- exel20240331exhibit31210-q.htm (EX-31.2) — 9KB
- exel20240331exhibit32110-q.htm (EX-32.1) — 7KB
- exel-20240329_g1.jpg (GRAPHIC) — 54KB
- 0000939767-24-000058.txt ( ) — 6509KB
- exel-20240329.xsd (EX-101.SCH) — 48KB
- exel-20240329_cal.xml (EX-101.CAL) — 68KB
- exel-20240329_def.xml (EX-101.DEF) — 232KB
- exel-20240329_lab.xml (EX-101.LAB) — 561KB
- exel-20240329_pre.xml (EX-101.PRE) — 404KB
- exel-20240329_htm.xml (XML) — 957KB
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements 3 Condensed Consolidated Balance Sheets (Unaudited) 3 Condensed Consolidated Statements of Income (Unaudited) 4 Condensed Consolidated Statements of Comprehensive Income (Unaudited) 4 Condensed Consolidated Statements of Stockholders' Equity (Unaudited) 5 Condensed Consolidated Statements of Cash Flows (Unaudited) 6 Notes to Condensed Consolidated Financial Statements (Unaudited) 7
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 22
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 37
Controls and Procedures
Item 4. Controls and Procedures 37
- OTHER INFORMATION
PART II - OTHER INFORMATION Item1. Legal Proceedings 39
Risk Factors
Item 1A. Risk Factors 41
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 41
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 42
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 42
Other Information
Item 5. Other Information 42
Exhibits
Item 6. Exhibits 43
SIGNATURES
SIGNATURES 2 Table of Contents
— FINANCIAL INFORMATION
PART I — FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements. EXELIXIS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except per share data) (unaudited) March 31, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 259,561 $ 262,994 Short-term investments 703,695 732,308 Trade receivables, net 240,577 237,407 Inventory 21,106 17,323 Prepaid expenses and other current assets 67,490 67,926 Total current assets 1,292,429 1,317,958 Long-term investments 629,561 728,717 Property and equipment, net 127,222 128,731 Deferred tax assets, net 361,578 361,145 Goodwill 63,684 63,684 Right-of-use assets and other 329,278 342,122 Total assets $ 2,803,752 $ 2,942,357 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 26,069 $ 33,768 Accrued compensation and benefits 72,958 93,325 Accrued clinical trial liabilities 59,337 71,615 Rebates and fees due to customers 75,651 59,619 Accrued collaboration liabilities 34,704 27,533 Other current liabilities 104,291 108,417 Total current liabilities 373,010 394,277 Long-term portion of operating lease liabilities 201,466 189,944 Other long-term liabilities 101,268 94,224 Total liabilities 675,744 678,445 Commitments and contingencies (Note 10) Stockholders' equity: Preferred stock, $ 0.001 par value, 10,000 shares authorized and no shares issued — — Common stock, $ 0.001 par value; 400,000 shares authorized; issued and outstanding: 295,032 and 302,793 at March 31, 2024, and December 31, 2023, respectively 295 303 Additional paid-in capital 2,391,865 2,440,710 Accumulated other comprehensive loss ( 5,204 ) ( 3,750 ) Accumulated deficit ( 258,948 ) ( 173,351 ) Total stockholders' equity 2,128,008 2,263,912 Total liabilities and stockholders' equity $ 2,803,752 $ 2,942,357 The accompanying notes are an integral part of these Condensed Consolidated Financial Statements. 3 Table of Contents EXELIXIS, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (in thousands, e