Stock Alert: Exelixis On The Move

(RTTNews) - Exelixis Inc. (EXEL), a commercial-stage, oncology-focused biotechnology company has a number of catalysts to watch out for in the coming months.

The Company is slated to report its 2019 fourth quarter and full-year financial results on February 25, 2020.

According to the preliminary results announced last month, total revenues for 2019 are approximately $972 million for the full year and approximately $245 million for the fourth quarter 2019, well above analysts' consensus estimate. This compares with total revenue of $853.8 million for full-year 2018 and $228.6 million for the fourth quarter of 2018.

Wall Street analysts are expecting revenues of $240.58 million for the fourth quarter and $967.53 million for full-year 2019.

Exelixis' flagship molecule, Cabozantinib, is the origin of two commercial products, CABOMETYX and COMETRIQ, marketed by the Company in the United States. CABOMETYX is indicated for the treatment of patients with advanced renal cell carcinoma (RCC), and patients with hepatocellular carcinoma (HCC) who have been previously treated with Bayer's Nexavar. COMETRIQ is indicated for the treatment of patients with progressive, metastatic medullary thyroid cancer.

The Company's third product, COTELLIC, is marketed under a collaboration with Genentech, a member of the Roche Group.

Net product revenues for 2019 are approximately $765 million for the full year and approximately $200 million for the fourth quarter of 2019. The net product revenue was $619.3 million for the full year of 2018 and $176.2 million for the fourth quarter of 2018.

Clinical Trial Catalysts:

-- A phase III pivotal trial evaluating Cabozantinib in combination with Bristol Myers' Opdivo in previously untreated advanced or metastatic renal cell carcinoma, dubbed CheckMate 9ER, is underway, with results expected in the first half of 2020.

-- Enrollment of the first 100 patients in a phase III pivotal trial evaluating Cabozantinib versus placebo in patients with radioactive iodine-refractory differentiated thyroid cancer who have progressed after up to two VEGF receptor-targeted therapies, known as COSMIC-311, is expected to be completed in the first half of 2020.

-- Enrollment in a phase III pivotal trial evaluating Cabozantinib in combination with Genentech's TECENTRIQ versus Bayer's Nexavar in previously untreated advanced hepatocellular carcinoma, dubbed COSMIC-312, is expected to be completed in the first half of 2020.

-- A phase Ib trial evaluating Cabozantinib in combination with TECENTRIQ in patients with locally advanced or metastatic tumors, dubbed COSMIC-021, is underway. Exelixis expects to present data from the metastatic castration-resistant prostate cancer (mCRPC) cohort of the trial at the ASCO Genitourinary Cancers Symposium this month.

EXEL has traded in a range of $15.02 to $25.31 in the last 1 year. As of this writing, the stock is up $18.43, up 4.72%.