Exelixis, Inc.

Good day, ladies and gentlemen, and welcome to the Exelixis Third Quarter 2026 Financial Results Conference Call. My name is Tawanda, and I will be your operator for today. As a reminder, this call has been recorded for replay purposes. I would now like to turn the call over to your host for today, Mr. Andrew Peters, Senior Vice President of Strategy and Investor Relations. Please proceed.

Thank you, Tawanda, and thank you all for joining us for the Exalexis Third Quarter 2026 Financial Results Conference Call. Joining me on today's call are Mike Morrissey, our President and CEO, Chris Senner, our Chief Financial Officer, Dana Aftab, our Executive Vice President of Research and Development, and PJ Haley, our Executive Vice President of Commercial, who will review our progress for the Third Quarter 2026 and the September 30th, 2026. 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 the 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, potential growth opportunities, and government drug pricing policies and initiatives. Actual events or results could, of course, differ materially. We refer you to the documents we file from time to time with the Securities and Exchange Commission, which under the heading Risk Factors, identify important factors that could cause actual results 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 in Commercialization Activities. With that, I'll turn the call over to Mike.

All right. Thank you, Andrew, and thanks to everyone for joining us on the call today. XOX has had a strong third quarter and continues to advance the key components of our business. The company is well-positioned to deliver on our strategic objectives and tactical goals for 2026 and beyond, as we aspire to become a company with a diverse pipeline of potential oncology franchise assets and opportunities. Most importantly, zanzalintinib is positioned to drive the next phase of growth for Exalexis as our second franchise molecule, potentially first with a third-line plus CRC opportunity. followed by several waves of pivotal trials that we'll highlight today. Cabo's strong third quarter performance reinforces our confidence in its long-term revenue growth trajectory. We saw solid year-over-year growth in both the RCC and net indications in Q3 and are excited with the potential of the Cabo net indication, which serves as the foundation of our future expanded net franchise with Zanza and other molecules in our pipeline. The bottom line today is that we remain laser-focused to advance XL to the next level with numerous opportunities as we build new oncology franchises through discovery, development, commercial, and business development activities while we reinforce our existing Cabo franchise. Key highlights for the third quarter of 2026 include, first, ZANSA is in the spotlight as our next potential franchise opportunity. Zanza remains our number one R&D priority, and we are advancing key objectives across the program. Beyond our current pivotal trials, we are actively advancing a second wave of potential pivotal trials that could further expand scope, reach, and long-term value of Zanza in GU, GI, and other indications. Our goal is to build a durable franchise with stacking capabilities that could drive growth for years to come. Second, we continue to see substantial growth from the Cabo Sanford franchise. Cabo remains the leading TKI for RCC and the market leader for the Oral Second Line Plus net segment. Third quarter, 2026, U.S. Cabo franchise net product revenues grew approximately 11% year-over-year to $605 million. continuing its role as the worldwide leading TKI, Global Cabo Franchise Net Product Revenues, generated by ExoLexis and its partners grew approximately 11% year-over-year to $818 million in the third quarter, 2026. Third, our commitment to rigorous expense management and capital allocation is unwavering as we invest in our mission-critical R&D priorities while returning cash to shareholders with our share repurchase program. We believe our expense management and capital allocation strategy is an important corporate differentiator and positions us to create both short-term and long-term shareholder value while maintaining strategic flexibility. Third quarter and year-to-date progress underscores the strength of our oncology franchise strategy as we advance ZANZA towards becoming a major franchise, develop our broad portfolio, go to the composition of business, and maintain disciplined capital allocation. So with that, please see our press release issued an hour ago for our quarterly financial results and a comprehensive summary of key corporate milestones achieved during the period. And with that, I'll turn the call over to Chris.