May 5, 2020 / 9:58 PM / a month ago

BRIEF-Exelixis Announces First Quarter 2020 Financial Results And Provides Corporate Update

May 5 (Reuters) - Exelixis Inc:

* EXELIXIS ANNOUNCES FIRST QUARTER 2020 FINANCIAL RESULTS AND PROVIDES CORPORATE UPDATE

* Q1 NON-GAAP EARNINGS PER SHARE $0.19

* Q1 GAAP EARNINGS PER SHARE $0.15

* Q1 REVENUE $226.9 MILLION VERSUS REFINITIV IBES ESTIMATE OF $214.9 MILLION

* Q1 EARNINGS PER SHARE ESTIMATE $0.13 — REFINITIV IBES DATA

* CASH AND INVESTMENTS INCREASED $51.8 MILLION DURING QUARTER ENDED MARCH 31, 2020 TO OVER $1.4 BILLION

* MAINTAINING REVENUE, NET PRODUCT REVENUE FINANCIAL GUIDANCE FOR FISCAL YEAR 2020

* TO DATE, COVID-19 PANDEMIC HAS HAD A RELATIVELY MODEST IMPACT ON EXELIXIS’ BUSINESS OPERATIONS

* MAINTAINING ITS GUIDANCE FOR CLINICAL TRIAL ENROLLMENT AND TOP-LINE DATA TIMELINES FOR COSMIC-311, COSMIC-312

* MAINTAINING ITS GUIDANCE FOR CLINICAL TRIAL ENROLLMENT AND TOP-LINE DATA TIMELINES FOR COSMIC-313, COSMIC-021, EXAMINER AND XL092

* INTENDS TO MAKE APPROPRIATE INVESTMENTS TO MAXIMIZE CLINICAL DEVELOPMENT OPPORTUNITIES FOR CABOMETYX Source text for Eikon: Further company coverage:

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