Exelixis, Inc.

Good day, ladies and gentlemen, and welcome to the Exelixis second quarter 2022 financial results conference call. My name is Sarah and I'll be your operator for today. As a reminder, this call is being recorded for replay purposes. I would now like to turn the call over to your host for today, Ms. Susan Hubbard, Executive Vice President of Public Affairs and Investor Relations. Please proceed.

Thank you, Sarah, and thank you all for joining us for the Exalexis second quarter 2022 financial results conference call. Joining me on today's call are Mike Morsey, our president and CEO, Chris Center, our chief financial officer, PJ Haley, our executive vice president of commercial, Vicki Goodman, our chief medical officer, and Peter Lam, our chief scientific officer, who will together review our progress for the second quarter 2022 and the June 30th, 2022. During the call today, we will refer to financial measures not calculated according to generally accepting accounting principles. Please refer to today's press release, which is posted on our website, for an explanation of our reasons for using such non-GAAP measures as well as tables deriving these measures from our GAAP results. During the course of this presentation, we will be making forward-looking statements regarding future events and the future performance of the company. This includes statements about possible developments regarding discovery, product development, regulatory, commercial, financial, and strategic matters. Actual events or results could, of course, differ materially. We refer you to the documents we file from time to time with the SEC, which under the heading Risk Factors, identify important factors that could cause actual results to differ materially from those expressed by the company verbally and in writing today, including, without limitation, risks and uncertainties related to product commercial success, market competition, regulatory review, and approval processes, conducting clinical trials, compliance with applicable regulatory requirements, our dependence on collaboration partners, and the level of costs associated with discovery, product development, business development, and commercialization activities. Now, with that, I will turn the call over to Mike.

All right. Thank you, Susan, and thanks to everyone for joining us on the call today. Exalexis had a strong second quarter 2022 across all components of our business. We saw continued growth of the Cabo's Antidote franchise, both in the U.S. and globally, while advancing a diversified pipeline of clinical and discovery programs to build the Exalexis product portfolio of the future. Key highlights from Q2 include, first, we saw strong performance of the Cabo's Antidote business with significant growth in demand and revenue in the U.S. Cabo Medics maintained its status as the leading TKI for RCC. the Cabo franchise grew 22% year-over-year compared to 2Q 2021, marking its seventh consecutive quarter of growth. Importantly, global Cabo Xanthan franchise net product revenues generated by Exalexis and its partners were almost $500 million in Q2 2022. Second, our emerging bi-coastal development team is focused on advancing the Exalexis development pipeline through potential new Cabo indications and a growing pipeline of clinical compounds including XL092, XB002, XL102, and XL114. Developments during the quarter include positive top line results for COSMIC 313 and the initiation of the pivotal trial program for XL092 with STELR 303. Third, our discovery activities focused both on small molecule and biologic programs continues to advance with two new collaborations to support our biologics discovery activities. With that, please see our press release issued an hour ago for our second quarter financial results and an extensive list of corporate milestones achieved in the quarter. I'll now turn the call over to Chris.