Exelixis Inc at RBC Capital Markets Global Healthcare Conference Transcript

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

Question: Gregory James Renza - RBC Capital Markets, Research Division - Analyst : Yes. No, that's great. Certainly, I want to focus on cabo and the pipeline. But maybe before we jump into that, certainly an area of focus near term is just the ANDA trial that's expected and ongoing this week. Just some commentary, if you will, Chris, around your thoughts of that claim that MSN and Teva are making and what your positioning, and the extent to which you can comment on that will be helpful.

Question: Gregory James Renza - RBC Capital Markets, Research Division - Analyst : Sure. That's helpful. And certainly, you commented a bit on the timing, which is helpful to the extent that we know. But would you expect a complete resolution to come as a result of this trial? Or how would this and maybe the one set for next year on indeed another set of patents to really kind of weigh on the cabo franchise -- are there other considerations beyond this to comprehend?

Question: Gregory James Renza - RBC Capital Markets, Research Division - Analyst : Understood. So let's just turn to cabo and just diving right in. On the past year then since the first-line RCC approval for cabo and Opdivo, still more growth to the franchise. So how much more can we expect in just talking about those volume drivers there for this combination regimen?

Question: Gregory James Renza - RBC Capital Markets, Research Division - Analyst : Yes. That's great. And just touching on the first line, when docs are looking at other options for first line, could you just touch -- from a high level, just that decision-making process for those that are reaching for cabo/Opdivo and those other scenarios and how that kind of plays into the dynamics?

Question: Gregory James Renza - RBC Capital Markets, Research Division - Analyst : Absolutely. And the mention of expansion and new lines of growth of COSMIC-313 coming up, top line readout for July, will this be sufficient for filing? And what is the bar for the efficacy, safety of the triplet?

Question: Gregory James Renza - RBC Capital Markets, Research Division - Analyst : Yes. And on that market, certainly, with the Opdivo/Yervoy doublet, that could be a population that could adopt this triplets provided the positive outcome here in July, also corroborated by our KOL checks. So while it is premature but how -- would growth spike? Would there be a taper just given that there could be a shift from that population? Just some commentary on maybe those dynamics at this point would be great.

Question: Gregory James Renza - RBC Capital Markets, Research Division - Analyst : That's great. And Chris, you mentioned the $1.1 billion. The goal of hitting $1.5 billion by year-end 2022, what are the drivers there to reach that and then to maintain or even grow that beyond 2023?

Question: Gregory James Renza - RBC Capital Markets, Research Division - Analyst : That's great. And maybe shifting to the pipeline. What can be gleaned from the 312 program as CONTACT 01, 02 and 03 progress for cabo and atezo cabo on the solid tumor indications?

Question: Gregory James Renza - RBC Capital Markets, Research Division - Analyst : That's great. And then maybe just shifting to XL092 and STELLAR, a little bit about the profile here, the improvement, how that pushes the needle longer term?

Question: Gregory James Renza - RBC Capital Markets, Research Division - Analyst : Great. And maybe Andrew, so a word on XL102, your CDK7 inhibitor. What are the advantages there? How do we think about that profile and its competitiveness?

Question: Gregory James Renza - RBC Capital Markets, Research Division - Analyst : That's great. And maybe for Chris, it's hard not to have a conversation about -- to the external environment about external assets, and Exelixis is an approach to business development, certainly maybe an all-hands surround sound effort on the team. Perhaps you could just give your view on and where you're seeing quality out there, what the valuations look like and where your -- the appetite of Exelixis is for finding some of those differentiated programs? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MAY 17, 2022 / 12:30PM, EXEL.OQ - Exelixis Inc at RBC Capital Markets Global Healthcare Conference

Question: Gregory James Renza - RBC Capital Markets, Research Division - Analyst : Well, Chris, Andrew, I think that's a great place to leave it. Great to see you. Appreciate you coming, and I look forward to following the progress.