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Exelixis, Inc. Message Board

  • herocaptainamerica herocaptainamerica Aug 6, 2013 11:44 PM Flag

    where are the longs? revenue was great!!

    ok, not the best leadership or great at the potential this company has, but over 70% institutional ownership and revenue rocked. bad news, their leaders could not excite anyone about what they are doing!! still holding for way too long!!

    Sentiment: Strong Buy

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    • revenues don't count, bottom line and cash flow rule and neither were positive. You are probably the guy that liked a certain company because they lost a little on every sale, but made up for it on volume

      • 1 Reply to imcobraman
      • cobraman,
        You might want to take those Motley Fool forensic accounting skills and apply them to something other than biotech. Revenues are hugely important at this stage with this company's first approved indication/drug. Revenues are a financial data point showing how the MTC market is responding to the availability of the drug. So far, so good.

        Sentiment: Strong Buy

    • I was encouraged by the $4M revenue attributed to Cometriq sales in Q2 and by the need for the sales reps to basically double the amount of calls that they are making (see below).

      On our Q1 call we announced that we’ll be expanding the size of our sales force from 5 to 15 sales representatives. The increase was due to a realization that the MTC market was less concentrated than we previously anticipated. That trend continued in Q2 during which time we observed that over 50% of scripts for COMETRIQ in MTC were written by community physicians. As a result we’ve increased the number of targets our reps call on from 600 to around 1,400.

      Very encouraging news for us longs. Still need to have patience to let the trials play out.

      Sentiment: Strong Buy

      • 1 Reply to jonathonkaul
      • I agree, the $4M in Cometriq was good news. Especially considering " I don’t have the exact date in front of me but it was late Julys when they hit the street". That was the reply to the question when did the increased sales force start promoting the product. In other words, the additional sales reps had no impact on that $4M, which IMO makes it even more impressive. While we all know that cash will be needed somewhere down the road, revenue upside could postpone that event. If one was to speculate on where the red light starts flashing, it's been said on this board that EXEL will definitely need cash after the initial Comet readouts in 2014. While that may work out great if the data is compelling and the PPS responds, it would still be nice to push back any equity raising as far as possible. If Cometriq, with European MTC sales, US MTC Sales, and some off label can get to $20M per quarter by EOY (definitely a tall order with 5 months to go), would it reduce the cash burn enough to push equity raising back by a couple of quarters (maybe even into 2015)?
        The whole cash raising issue may be a moot point if/when big pharma decides they want all of (buyout) or part off (partnership) the coming Cometriq franchise. It would also be moot if GDC 0973 can be monetized.

        Sentiment: Strong Buy

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