Exelixis, Inc.

Good day, ladies and gentlemen, and welcome to the Exalexis Third Quarter 2022 Financial Results Conference Call. My name is Chuck, 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 go ahead, ma'am.

Thank you, Chuck, and thank you all for joining us for the Exalexis Third Quarter 2022 Financial Results Conference Call. Joining me on today's call are Mike Morrissey, our president and CEO, Chris Senner, our chief financial officer, PJ Haley, our executive vice president of commercial, Vicki Goodman, our chief medical officer, and Peter Lamb, our chief scientific officer, who together will review our progress for the third quarter 2022 and in June 30th, 2022, and subsequent events, including the two business development announcements made today. During the call today, we will refer to financial measures not calculated according to generally accepted 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 limitations, risks and uncertainties related to product commercial success, market competition, regulatory review, and approval processes, conducting clinical trials, compliance with applicable applicable regulatory requirements, our dependence on collaboration partners, and the level of cost associated with the discovery, product development, business development, and commercialization activities. And 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 third quarter 2022 across all components of our business. We saw continued growth of the Cabo Xanthinib franchise in the U.S. while expanding our diverse portfolio of clinical and discovery programs with new collaborations to build the X-Alexis product portfolio of the future. Key highlights from Q3 include, first, we saw a strong performance of the Cabo Xanthinib business with significant growth in demand and revenue in the U.S. Cabo Medics maintained its status as the leading TKI for RCC. Cabo franchise revenue grew 39% year-over-year compared to third quarter 2021, marking its eighth consecutive quarter of growth. Importantly, global Cabo's antigen-franchised net product revenue generated by XLXS and its partners were $497 million in the third quarter 2022. Second, we continue to advance the Exalexis development pipeline with new potential CAVO indications and our growing pipeline of clinical compounds and additional candidates in non-clinical development. Important clinical updates for XL092 at EORTC and XB002 at ENA highlight recent progress to lay the foundation for moving these compounds into late-stage development. Third, business development activities continue to be a critical focus for Exalexis. We're pleased to announce two new option deals with Cybrexa and Siropa today, which highlight our strategic efforts to access clinical and or near clinical stage assets that have the potential to provide differentiated benefits to patients with cancer. You'll hear more about these two deals from Peter shortly. The option deal framework is ideal for us to employ as we can generate clinical proof of concept data with a wide range of experimental agents in a financially disciplined manner and only pay for success if and when that data is available. With that, please see our press release issued an hour ago for our third quarter financial results and an extensive list of key corporate milestones achieved in the quarter. I'll now turn the call over to Chris.