Ahead of its JPM20 presentation, Exelixis (NASDAQ:EXEL) announces preliminary 2019 results and its outlook for this year.
2019: Q4 and full-year revenues expected to be ~$245M and ~$972M, respectively. Product sales should be ~$200M and ~$765M, respectively.
Final results will be released on Wednesday, February 26, after the close.
2020 guidance: Revenues: $850M – 900M; product sales (cabozantinib): $725M – 775M.
Selected 2020 milestones:
Topline data from Phase 3 Checkmate 9ER study of cabozantinib + Opdivo (nivolumab) in treatment-naïve advanced/metastatic renal cell carcinoma expected in H1.
Preliminary data from Phase 3 COSMIC-311 study of cabozantinib in patients with radioactive iodine-refractory differentiated thyroid cancer who have progressed after up to two VEGF receptor-targeted therapies (and the completion of enrollment) expected in H2.
Complete enrollment in Phase 3 COSMIC-312 study of cabozantinib + Roche’s Tecentriq (atezolizumab) versus Bayer’s Nexavar (sorafenib) in H1. Analysis of progression-free survival and interim overall survival could happen in H2.
#JPM20
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