Exelixis, Inc. (NASDAQ:EXEL) Ranks 43 CNBC RQ 50, Forges Partnerships


Dallas, Texas 08/08/2014 (FINANCIALSTRENDS) – Exelixis, Inc. (NASDAQ:EXEL) the small-sized bio-pharmaceutical, has held its own against tough competition from pharmaceutical sector giants. Exelixis has made its mark based on its core competency to innovate. Currently, it is ranked 43rd in the top 50 list report by CNBC RQ 50 reported by Washington University professor of strategy Anne Marie Knott at St. Louis. Exelixis focus on R&D has ensured that it has provided innovative solutions, assuring returns to shareholders.

Exelixis Focus On Key Drugs

Exelixis, Inc. (NASDAQ:EXEL)its keen innovation has been able to build successful drug build-up includes only one product, Cometriq, approved for treating thyroid cancer. This drug is currently in Phase 3 trials for the use of this drug to treat kidney cancer, prostate cancer as well as liver cancer.

In its second quarter results, reported July 31, the company reported expenses of $51.0 million, instead of $49.1 million it used in 2013. The higher spending in this sector was due to Phase 3 pivotal trials for cabozantinib.

Second Quarter Results

For the period ending June 30, 2014, EXEL reported net revenues of $6.6 million, which was entirely attributed to the sale of its Cometriq drug. The highlight for the second quarter was the increase in the sale of cometriq, as the product was commercially launched in the US in early 2013.

One financial aspect for the period, was the lower revenues earned from contracts and licenses as EXEL now recognizes the 2013 collaboration agreements with partner Bristol-Myers Squibb.

Partnerships Key To Growth

Exelixis, Inc. (NASDAQ:EXEL)is focused on developing key products through strategic partnerships, such as the Cobimetinib drug. This is a multi-company project as Exelixis is working with the likes of Roche as well as Genentech for treating melanoma, which is difficult to remove through operations.