Exelixis Inc. reported strong financial results for the first quarter ended March 31, 2025, with total revenues reaching $555.4 million, a 30.6% increase compared to $425.2 million in the same period last year. The company posted a non-GAAP net income of $179.6 million, or $0.64 per share basic, and an adjusted earnings per share (EPS) of $0.62, surpassing the consensus estimate of $0.37. U.S. net product revenue for Cabozantinib, marketed as CABOMETYX, rose 35.6% year-over-year to $513.3 million. Following the robust quarter and the launch of the NET approval, Exelixis raised its full-year 2025 revenue guidance by $100 million, now projecting revenues between $2.25 billion and $2.35 billion. The company’s stock reacted positively, gaining over 4% in pre-market trading and rising 20% on the day, contributing to a 34% increase year-to-date.