Exelixis Inc at Morgan Stanley Global Healthcare Conference Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Jeff Hung - Morgan Stanley - Analyst : Great. Well, let's start with cabozantinib. Obviously, multiple developments recently. The sNDA has been accepted for advanced neuro endocrine tumors. Can you remind us what you saw in the cabinet study that was presented at last year's as now? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 04, 2024 / 1:15PM, EXEL.OQ - Exelixis Inc at Morgan Stanley Global Healthcare Conference

Question: Jeff Hung - Morgan Stanley - Analyst : You're preparing for potential launch in both patients with previously treated advanced pancreatic NET and previously treated advanced extra pancreatic NET, are there any particular considerations for reaching these two patient populations?

Question: Jeff Hung - Morgan Stanley - Analyst : It would be used given the high proportion of prior experience in those six theaters with Cabo. Can you just talk about what kinds of incremental investment you're making for launch and what kinds of activities might be gated until?

Question: Jeff Hung - Morgan Stanley - Analyst : You talked about this, but in the next couple of weeks on the updated results from the cabinet study will be presented as no. So I guess in addition to the final PFS data what should investors look for in the results?

Question: Jeff Hung - Morgan Stanley - Analyst : And then for metastatic castration resistant prostate cancer, you intend to submit sNDA this year following a final OS analysis from CONTACT-02. Can you remind us what you saw and how are you thinking about the OS data for potential approval? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 04, 2024 / 1:15PM, EXEL.OQ - Exelixis Inc at Morgan Stanley Global Healthcare Conference

Question: Jeff Hung - Morgan Stanley - Analyst : Great. Let's shift to [Ventolin]. And for those who may not be familiar with them, but can you just talk about how it's different from Cabo, the advantages it provides in? What is the overall vision presented?

Question: Jeff Hung - Morgan Stanley - Analyst : Right, so 2025 going to be important year for zanza. Can you just talk about what you need to see in STELLAR-303 to be clinically meaningful?

Question: Jeff Hung - Morgan Stanley - Analyst : And then for STELLAR-311 that you talked about for neuroendocrine tumors, I guess based on this profile and the data you've generated, do you have a sense for the improvements that can be achieved with zanza over Cabo in that indication?

Question: Jeff Hung - Morgan Stanley - Analyst : Now for cabinet, at the five year, survival rates were higher in GI NET and lung carcinoid tumors versus pancreatic. But the study was stopped early due to the dramatic improvement in efficacy at the interim. Do you have a sense for how long the treatment course, you need to go with STELLAR-311 to detect a similar or better improvement. Would you expect it to be similar length of time or might it be even quicker?

Question: Jeff Hung - Morgan Stanley - Analyst : You talked about how it's not just from Cabo to zanza, but cabozantinib and pipeline. So maybe let's talk a little bit about the early-stage pipeline. You recently announced that you're discontinuing development of XB002. Can you remind us what drove this decision?

Question: Jeff Hung - Morgan Stanley - Analyst : Next question has indicated that there should not be read through to other ADCs with development ongoing for XB371. What gives you confidence that there aren't read-throughs to other candidates like 371? And is a big factor that difference in payload for instance.

Question: Jeff Hung - Morgan Stanley - Analyst : You have multiple early-stage programs advancing towards clinical development later this year, including T-can at one inhibitor, XL495 and the PD-L1, NKG2A, bispecific XB628. What excites you about these programs?

Question: Jeff Hung - Morgan Stanley - Analyst : Great. Maybe one last question in the last few minutes, and obviously, Exelixis has a lot going on already in the pipeline, but has your thinking on external development evolved over the last year, whether from internal updates like discontinuing development of active users or to or external factors like new technologies or more reasonable prices to get deals done?

Question: Jeff Hung - Morgan Stanley - Analyst : Great. Always a pleasure.