Exelixis Files 10-Q for Q2 2024
Ticker: EXEL · Form: 10-Q · Filed: Aug 6, 2024 · CIK: 939767
Sentiment: neutral
Topics: 10-Q, financials, biopharmaceutical
TL;DR
Exelixis Q2 10-Q is in! Check financials for product, license, and service revenue.
AI Summary
Exelixis, Inc. filed its 10-Q for the period ending June 28, 2024. The filing details financial performance and business operations, including revenue generated from products, licenses, and services. Specific financial figures for the quarter and year-to-date are presented, reflecting the company's ongoing activities in the biopharmaceutical sector.
Why It Matters
This filing provides investors and stakeholders with a detailed look at Exelixis's financial health and operational performance for the second quarter of 2024, crucial for understanding the company's trajectory.
Risk Assessment
Risk Level: medium — As a biopharmaceutical company, Exelixis faces inherent risks related to drug development, regulatory approvals, and market competition.
Key Numbers
- 2024 Q2 — Reporting Period (Second quarter of 2024 financial reporting)
- 2024-06-28 — End of Fiscal Period (The end date for the reporting period)
- 2023-12-30 — Previous Year End (Comparison point for year-to-date figures)
- 2023-04-01 — Previous Year Q2 Start (Comparison point for Q2 revenue)
- 2022-12-31 — Prior Year End (Context for prior year financial data)
Key Players & Entities
- EXELIXIS, INC. (company) — Filer
- 20240628 (date) — Period of Report
- 20240806 (date) — Filed as of Date
- ALAMEDA (location) — Business Address City
- 6508377000 (phone_number) — Business Phone
FAQ
What was Exelixis's total revenue for the quarter ending June 28, 2024?
The filing indicates revenue is broken down by product, license, and service, but specific total revenue figures for the quarter ending June 28, 2024, are not explicitly stated in this header section.
What is Exelixis's primary business segment?
Exelixis's primary business segment is related to biological products, specifically within the 'BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES)' SIC code [2836].
When was Exelixis, Inc. incorporated?
Exelixis, Inc. was incorporated in Delaware (DE).
What is the company's fiscal year end?
The company's fiscal year ends on January 3 (0103).
What is the SEC file number for Exelixis, Inc.?
The SEC file number for Exelixis, Inc. is 000-30235.
Filing Stats: 4,508 words · 18 min read · ~15 pages · Grade level 16.7 · Accepted 2024-08-06 16:18:43
Key Financial Figures
- $0.001 — ange on which registered Common Stock, $0.001 Par Value per Share EXEL The Nasdaq Sto
Filing Documents
- exel-20240628.htm (10-Q) — 1355KB
- exelixisinc2000employeesto.htm (EX-10.1) — 87KB
- exel20240630exhibit31110-q.htm (EX-31.1) — 9KB
- exel20240630exhibit31210-q.htm (EX-31.2) — 9KB
- exel20240630exhibit32110-q.htm (EX-32.1) — 7KB
- exel-20240628_g1.jpg (GRAPHIC) — 54KB
- 0000939767-24-000119.txt ( ) — 7346KB
- exel-20240628.xsd (EX-101.SCH) — 49KB
- exel-20240628_cal.xml (EX-101.CAL) — 68KB
- exel-20240628_def.xml (EX-101.DEF) — 235KB
- exel-20240628_lab.xml (EX-101.LAB) — 588KB
- exel-20240628_pre.xml (EX-101.PRE) — 417KB
- exel-20240628_htm.xml (XML) — 1131KB
- 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) 6 Condensed Consolidated Statements of Cash Flows (Unaudited) 7 Notes to Condensed Consolidated Financial Statements (Unaudited) 8
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 24
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 39
Controls and Procedures
Item 4. Controls and Procedures 39
- OTHER INFORMATION
PART II - OTHER INFORMATION Item1. Legal Proceedings 40
Risk Factors
Item 1A. Risk Factors 42
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 42
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 43
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 43
Other Information
Item 5. Other Information 43
Exhibits
Item 6. Exhibits 44
SIGNATURES
SIGNATURES 2 Table of Content
— 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) June 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 198,459 $ 262,994 Short-term investments 803,540 732,308 Trade receivables, net 396,584 237,407 Inventory 20,614 17,323 Prepaid expenses and other current assets 58,247 67,926 Total current assets 1,477,444 1,317,958 Long-term investments 432,305 728,717 Property and equipment, net 130,210 128,731 Deferred tax assets, net 361,561 361,145 Goodwill 63,684 63,684 Right-of-use assets and other non-current assets 307,917 342,122 Total assets $ 2,773,121 $ 2,942,357 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 28,676 $ 33,768 Accrued compensation and benefits 71,806 93,325 Accrued clinical trial liabilities 64,829 71,615 Rebates and fees due to customers 58,468 59,619 Accrued collaboration liabilities 18,683 27,533 Other current liabilities 103,241 108,417 Total current liabilities 345,703 394,277 Long-term portion of operating lease liabilities 198,017 189,944 Other long-term liabilities 109,667 94,224 Total liabilities 653,387 678,445 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: 285,222 and 302,793 at June 30, 2024, and December 31, 2023, respectively 285 303 Additional paid-in capital 2,324,570 2,440,710 Accumulated other comprehensive loss ( 5,149 ) ( 3,750 ) Accumulated deficit ( 199,972 ) ( 173,351 ) Total stockholders' equity 2,119,734 2,263,912 Total liabilities and stockholders' equity $ 2,773,121 $ 2,942,357 The accompanying notes are an integral part of these Condensed Consolidated Financial Statements. 3 Table of Content EXELIXIS, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME