Exelixis Inc Morgan Stanley 24th Annual Global Healthcare Conference
Review the key takeaways and the transcript of this earnings call.
- Exelixis said the Carbo franchise remains strong, with a run rate based on Q2 26 numbers of north of $3 billion a year globally.
- Carbo has been labeled with eight indications and has been evaluated in tens, if not more, of pivotal trials.
- Exelixis said Zanza is growing at a slightly shallower rate than expected, but management believes this does not change its view of the product’s eventual potential.
- The company said it is using AI selectively across highly curated discovery, development, and commercial data sets, with priorities centered on speed, quality, and security.
- Exelixis said Stellar 311 enrollment is ahead of schedule, while the meningioma study 201 and a phase two bladder cancer study are enrolling rapidly.
STOCKNOW INSIGHTS
Continue with outlook and guidance.
Log in to unlock executive comments and Q&A highlights.
Log in for the full summaryStockNow uses AI to translate and summarize earnings calls. Accuracy and completeness are not guaranteed.
Transcript
Preview the first fifteen paragraphs, organized by speaker.
I've got some macro questions at the beginning.
Yeah, I thought. I'll log it if you want.
Yeah. No, it's good. I'll get rid of that. It's very good. Good morning, everyone. I'm Sean Lunnan, head of U.S. Mid-Cap Biotech Equity Research here at Morgan Stanley, and welcome to our Global Healthcare Conference. Before we begin, just to make you aware of some important disclosures. For those disclosures, please visit the Morgan Stanley disclosure website at www.morganstanley.com/researchdisclosures. If you have any questions, please reach out to your Morgan Stanley sales representative. For this session, we have the pleasure of hosting Exelixis and their President and CEO, Michael Morrissey. Thank you for your time and pleasure to host you.
Yeah, it's great to be back.
Yeah. Thanks for the invite, yeah.
Before I begin, let me just remind, do my safe harbor. I will be making forward-looking statements today, so please see our SEC filings for a description of the risks that we face in our business.
Okay. Thank you, Mike. Thank you.
You would be actively involved in this first one, I believe. So how is the rise of China-originated innovation changing your competitive positioning, if at all, in your R&D and BD playbook?
That is a great way to start the dialogue, and we could probably spend 33 minutes on that topic all by itself. First, let me say again, it is great to be here. Really appreciate, and really value the relationship we have with Morgan Stanley on the research side, on the banking side. It has just been just great.
Fantastic. Really appreciate all you guys do for us.
Let us talk about China, and it is really a question of, at least in my mind, innovation first and how you maximize the value of innovation, how you access innovation, how you pay, how you value innovation all across the board. No surprise, I think, to me and to us that there is lots going on in that space. If you go back even 10, 15 years, there were the top two or three checkpoint inhibitors, and then there were another 40 being discovered Sure and developed in China.
I would say that region, that country certainly is investing a lot in biotech right now. There is lots of movement inside China in terms of BD ex China, in terms of U.S. companies and European companies accessing that. We look at that very closely. I guess our focus is more on novelty than fast followers than kind of me-toos. There is a lot of all those. The question is really how do you parse the risk-reward equation? How do you look at data preferably asymmetrically in terms of what we have in our pipeline, where we are hoping to move our pipeline? We have adopted this multi-product, multi-franchise approach. I mean, cabozantinib is a great example of that from the standpoint of a compound that has been looked at in tens, if not more, pivotal trials, has label with eight indications.
We are trying to complement that with zanzalintinib and a full pipeline. Sources of innovation, whether we look to buy, to partner, or to collaborate is really important for us. I think collaborative opportunities makes the most sense, but we are open for business and looking very clearly at trying to expand our portfolio of franchises.
Sure. That could certainly include assets ex U.S. side of the company.
Yeah. Fantastic. Thank you, Mike. Next question on the macro side. Are you implementing AI across your business? And if so, can you point to an area where it's changed a decision, a cost outcome?
FULL TRANSCRIPT
Continue the full translated transcript in StockNow.
Log in to unlock every statement, the English original, and speaker-by-speaker history.
Log in for the full transcriptCall participants
2 people spoke on this call — only 1 are shown here.
PARTICIPANT LIST
View participant details in StockNow.
Log in to see executives and analysts, their roles, and complete speaking history.
Log in to view all participantsKeep exploring