Exelixis Files 10-Q for Q3 2024
Ticker: EXEL · Form: 10-Q · Filed: Oct 29, 2024 · CIK: 939767
Sentiment: neutral
Topics: 10-Q, financials, biopharmaceutical
TL;DR
Exelixis dropped its Q3 10-Q. Check financials.
AI Summary
Exelixis, Inc. filed its 10-Q for the period ending September 27, 2024. The company reported financial results and provided updates on its business operations. Specific financial figures and operational details are available within the full filing.
Why It Matters
This filing provides investors with Exelixis's latest financial performance and operational status, crucial for understanding the company's trajectory in the biopharmaceutical sector.
Risk Assessment
Risk Level: medium — As a biopharmaceutical company, Exelixis faces inherent risks related to drug development, regulatory approvals, and market competition.
Key Numbers
- 20240927 — Period End Date (Latest reported fiscal quarter)
- 2023-12-30 — Previous Year End (Comparison point for financial performance)
Key Players & Entities
- EXELIXIS, INC. (company) — Filer
- 20240927 (date) — Period of Report
- 20241029 (date) — Filing Date
FAQ
What is the reporting period for this 10-Q filing?
The 10-Q filing is for the period ending September 27, 2024.
What is the filing date of this 10-Q?
This 10-Q was filed on October 29, 2024.
What is Exelixis, Inc.'s Standard Industrial Classification code?
Exelixis, Inc.'s SIC code is 2836, for Biological Products (No Diagnostic Substances).
What is Exelixis's business address?
Exelixis's business address is 1851 Harbor Bay Parkway, Alameda, CA 94502.
What fiscal year end does Exelixis report?
Exelixis reports its fiscal year end on January 3.
Filing Stats: 4,481 words · 18 min read · ~15 pages · Grade level 17.4 · Accepted 2024-10-29 16:11:54
Key Financial Figures
- $0.001 — ange on which registered Common Stock, $0.001 Par Value per Share EXEL The Nasdaq Sto
Filing Documents
- exel-20240927.htm (10-Q) — 1377KB
- exel20240930exhibit31110-q.htm (EX-31.1) — 9KB
- exel20240930exhibit31210-q.htm (EX-31.2) — 9KB
- exel20240930exhibit32110-q.htm (EX-32.1) — 7KB
- exel-20240927_g1.jpg (GRAPHIC) — 54KB
- 0000939767-24-000150.txt ( ) — 7343KB
- exel-20240927.xsd (EX-101.SCH) — 50KB
- exel-20240927_cal.xml (EX-101.CAL) — 69KB
- exel-20240927_def.xml (EX-101.DEF) — 240KB
- exel-20240927_lab.xml (EX-101.LAB) — 595KB
- exel-20240927_pre.xml (EX-101.PRE) — 423KB
- exel-20240927_htm.xml (XML) — 1133KB
- 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 41
Controls and Procedures
Item 4. Controls and Procedures 41
- OTHER INFORMATION
PART II - OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 42
Risk Factors
Item 1A. Risk Factors 45
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 45
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 45
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 45
Other Information
Item 5. Other Information 45
Exhibits
Item 6. Exhibits 46
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) September 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 258,346 $ 262,994 Marketable securities 930,815 732,308 Trade receivables, net 269,706 237,407 Inventory 21,013 17,323 Prepaid expenses and other current assets 69,838 67,926 Total current assets 1,549,718 1,317,958 Non-current marketable securities 523,421 728,717 Property and equipment, net 124,414 128,731 Deferred tax assets, net 358,869 361,145 Goodwill 63,684 63,684 Right-of-use assets and other non-current assets 340,170 342,122 Total assets $ 2,960,276 $ 2,942,357 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 59,309 $ 33,768 Accrued compensation and benefits 90,605 93,325 Accrued clinical trial liabilities 56,184 71,615 Rebates and fees due to customers 62,495 59,619 Accrued collaboration liabilities 30,030 27,533 Other current liabilities 95,723 108,417 Total current liabilities 394,346 394,277 Non-current portion of operating lease liabilities 194,445 189,944 Other non-current liabilities 96,066 94,224 Total liabilities 684,857 678,445 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: 285,780 and 302,793 at September 30, 2024, and December 31, 2023, respectively 286 303 Additional paid-in capital 2,361,470 2,440,710 Accumulated other comprehensive income (loss) 3,956 ( 3,750 ) Accumulated deficit ( 90,293 ) ( 173,351 ) Total stockholders' equity 2,275,419 2,263,912 Total liabilities and stockholders' equity $ 2,960,276 $ 2,942,357 The accompanying notes are an integral part of these Condensed Consolidated Financial Statements. 3 Table of Contents EXELIXIS, INC. CONDENSED CON