Exelixis Inc. reported non-GAAP net income of USD 869.5 million, or USD 3.20 per basic share and USD 3.08 per diluted share, for the full year ended December 31, 2025. This compares to non-GAAP net income of USD 593.6 million, or USD 2.05 per basic share and USD 2.00 per diluted share, for the full year 2024. The company’s non-GAAP financial measures exclude stock-based compensation, adjusted for the related income tax effect. Exelixis management highlighted the use of these non-GAAP metrics to provide additional insight into the company’s operating performance and business trends. During the period, Exelixis continued to advance its oncology franchise, with CABOMETYX and COMETRIQ as key products. The company also referenced collaborative partnerships, including those with Genentech and Merck, related to TECENTRIQ and WELIREG, respectively. Management provided a general business update and discussed the financial results for the fourth quarter and full year 2025 in a conference call and webcast.

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