Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Exelixis reported its second quarter 2026 financial results demonstrating continued execution of its multi-franchise oncology strategy, anchored by the established cabozantinib (cabo) franchise and the advancing development of its next potential franchise, zanzalintinib (zanza).</li><li>Total revenues for Q2 2026 were approximately $629 million, with cabozantinib net product revenues reaching $573 million, up 10% year-over-year in the U.S. and 13% globally.</li><li>The cabozantinib franchise maintains its leadership position in renal cell carcinoma (RCC) as the top tyrosine kinase inhibitor (TKI) and TKI plus immuno-oncology (IO) combination, as well as in the second-line plus neuroendocrine tumor (NET) segment.</li></ul>

Exelixis reported its second quarter 2026 financial results demonstrating continued execution of its multi-franchise oncology strategy, anchored by the established cabozantinib (cabo) franchise and the advancing development of its next potential franchise, zanzalintinib (zanza).Total revenues for Q2 2026 were approximately $629 million, with cabozantinib net product revenues reaching $573 million, up 10% year-over-year in the U.S. and 13% globally.The cabozantinib franchise maintains its leadership position in renal cell carcinoma (RCC) as the top tyrosine kinase inhibitor (TKI) and TKI plus immuno-oncology (IO) combination, as well as in the second-line plus neuroendocrine tumor (NET) segment.

Exelixis Is Not Just Cabozantinib — Zanzalintinib Could Open A New Oncology Chapter!

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Research Reinvented

<ul>
  <li>Exelixis' financial performance is robust, driven by the strong and growing sales of its flagship cabozantinib franchise (CABOMETYX®), which maintains a leading market position in key oncology indications like renal cell carcinoma (RCC).</li>
  <li>The company is at a pivotal juncture, with the potential to launch its next major growth driver, zanzalintinib, which is under FDA review for metastatic colorectal cancer with a target action date of December 3, 2026.</li>
  <li>While heavily reliant on its primary drug franchise, Exelixis is actively diversifying its pipeline with a range of small molecules and biotherapeutics, aiming to secure long-term growth and mitigate concentration risk.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  Exelixis' financial performance is robust, driven by the strong and growing sales of its flagship cabozantinib franchise (CABOMETYX®), which maintains a leading market position in key oncology indications like renal cell carcinoma (RCC).
  The company is at a pivotal juncture, with the potential to launch its next major growth driver, zanzalintinib, which is under FDA review for metastatic colorectal cancer with a target action date of December 3, 2026.
  While heavily reliant on its primary drug franchise, Exelixis is actively diversifying its pipeline with a range of small molecules and biotherapeutics, aiming to secure long-term growth and mitigate concentration risk.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Exelixis Inc (EXEL US) - Aug 2026

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ORTEX is a global financial data and analytics platform providing real-time securities lending and short interest data, index rebalance data, holdings and insider transactions, trading signals, corporate actions and news,  stock machine learning and factor scores and other analytics. The majority of the data are downloadable and accessible through APIs.

Equity Derivatives

<ul><li>Options sentiment fractured this week.</li><li>Defensive hedging dominated in healthcare and real estate names, while clean energy attracted a rare burst of pure bullish call flow.</li><li>The week's most striking signals came from opposite ends of the put-call spectrum, with several names printing z-scores above 4.0.</li></ul>

Options sentiment fractured this week.Defensive hedging dominated in healthcare and real estate names, while clean energy attracted a rare burst of pure bullish call flow.The week's most striking signals came from opposite ends of the put-call spectrum, with several names printing z-scores above 4.0.

Options Weekly: Bears and Bulls Clash as REIT Options Flash Extremes

<ul><li>Exelixis reported financial and operational results for the first quarter of fiscal year 2026, reflecting continued progress in its core oncology franchises and pipeline development.</li><li>The company's revenue totaled approximately $611 million, with cabozantinib (CABOMETYX) franchise net product revenues reaching $555 million, marking an 8% year-over-year increase in the U.S. and a 12.5% rise globally in collaboration with partners.</li><li>Gross-to-net deductions rose to 30.2%, attributed to increased 340B volume, Medicare-related discounts, and co-pay assistance compared to the previous quarter.</li></ul>

Exelixis reported financial and operational results for the first quarter of fiscal year 2026, reflecting continued progress in its core oncology franchises and pipeline development.The company's revenue totaled approximately $611 million, with cabozantinib (CABOMETYX) franchise net product revenues reaching $555 million, marking an 8% year-over-year increase in the U.S. and a 12.5% rise globally in collaboration with partners.Gross-to-net deductions rose to 30.2%, attributed to increased 340B volume, Medicare-related discounts, and co-pay assistance compared to the previous quarter.

Exelixis: Can NET, Meningioma, and RCC Trials Unlock a Major Pipeline Breakout?

<ul><li>Exelixis, Inc. reported its financial results for the fourth quarter and full year 2025, illustrating significant developments and setting the stage for potential growth in 2026.</li><li>The company is focused on expanding its leadership in solid tumor oncology, leveraging its established presence in GU oncology and aiming to extend this to GI indications.</li><li>For the fiscal year 2025, Exelixis recorded U.S. net product revenues from its cabozantinib franchise at approximately $2.12 billion, a 17% increase from 2024, with fourth-quarter revenues reaching $547 million, marking a 6% year-over-year growth.</li></ul>

Exelixis, Inc. reported its financial results for the fourth quarter and full year 2025, illustrating significant developments and setting the stage for potential growth in 2026.The company is focused on expanding its leadership in solid tumor oncology, leveraging its established presence in GU oncology and aiming to extend this to GI indications.For the fiscal year 2025, Exelixis recorded U.S. net product revenues from its cabozantinib franchise at approximately $2.12 billion, a 17% increase from 2024, with fourth-quarter revenues reaching $547 million, marking a 6% year-over-year growth.

Partnership Power at Exelixis: Leveraging Collaborations to De-Risk Clinical Expansion!

United States

Exelixis, Inc. is a development-stage biotechnology company dedicated to the discovery and development of small-molecule therapeutics for the treatment of cancer and other serious diseases.  The Company is building a portfolio of compounds it believes could become pharmaceutical products.  Exelixis has strategic alliances with pharmaceutical and biotechnology companies.

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Exelixis Inc (EXEL US)

Exelixis Is Not Just Cabozantinib — Zanzalintinib Could Open A New Oncology Chapter!

Exelixis reported its second quarter 2026 financial results demonstrating continued execution of its multi-franchise oncology strategy, anchored...

Baptista Research

Primer: Exelixis Inc (EXEL US) - Aug 2026

Exelixis' financial performance is robust, driven by the strong and growing sales of its flagship cabozantinib franchise (CABOMETYX®), which...

αSK Primers

Options Weekly: Bears and Bulls Clash as REIT Options Flash Extremes

Options sentiment fractured this week. Defensive hedging dominated in healthcare and real estate names, while clean energy attracted a rare burst...

ORTEX Market Intel

Exelixis: Can NET, Meningioma, and RCC Trials Unlock a Major Pipeline Breakout?

Exelixis reported financial and operational results for the first quarter of fiscal year 2026, reflecting continued progress in its core oncology...

Baptista Research

Partnership Power at Exelixis: Leveraging Collaborations to De-Risk Clinical Expansion!

Exelixis, Inc. reported its financial results for the fourth quarter and full year 2025, illustrating significant developments and setting the...

Baptista Research

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