Exelixis, Inc.

Total revenues and net product revenues rose in the quarter, driven by higher sales volume and a higher average net selling price, while collaboration revenues were slightly lower. Research and development and selling, general and administrative expenses increased, but GAAP and non-GAAP net income and per-share results improved, helped by share repurchases. Total revenue guidance for the year was left unchanged, and the effective tax rate outlook was lowered, while zanzalintinib trial progress and the pending FDA review were also updated.