=Exelixis (EXEL) reported earnings Wed 3 Aug 2016 (a/h)

The genomics-based drug discovery company posted a loss of $0.16 per share, above the forecasts of a $0.27 per share loss, while revenue of $36.3 million more than doubled the consensus estimate of $17.96 million. Exelixis expects operating expenses in the range of $250 million-to-$270 million for the full year.

Exelixis CEO Michael M. Morrissey said in a statement that his team worked “tirelessly” to bring forward its kidney cancer treatment Cabometyx, and that the company is encouraged by the initial response and developments. A Phase II trial of the drug recently achieved its primary endpoint, as significant improvement was seen in progression-free survival rates in patients with previously untreated advanced renal cell carcinoma.
Kenneth Tropin’s Graham Capital Management owns approximately 13.21 million shares of Exelixis as of the end of the first quarter.