Exelixis, Inc. (EXEL) CEO Michael Morrissey on Barclays Global Healthcare Conference (Transcript)

Exelixis, Inc. (NASDAQ:EXEL) Barclays Global Healthcare Conference Call March 13, 2019 9:30 AM ET

Company Participants

Michael Morrissey - President and Chief Executive Officer

Conference Call Participants

Geoff Meacham - Barclays Capital

Geoff Meacham

Welcome to the second day of the Barclays Global Healthcare Conference. My name is Geoff Meacham. I’m the biopharma analyst here. My team here are Rick Harrison up on the stage with me, and we’re really excited to have Exelixis doing the fireside chat and Mike Morrissey, CEO. Mike?

Michael Morrissey

Good morning. Thanks for the – well, thanks for the invite. Great to be here, yes.

Geoff Meacham

So the – I guess, let’s just start with the core franchise cabozantinib has been a real success, and maybe just give us kind of your high-level view of kind of how we got here, and kind of your general view going forward?

Michael Morrissey

Okay.

Geoff Meacham

And then we can get into trials and nuances, RCC and other market details.

Michael Morrissey

Sure, yes. So it’s been a long journey. This is a tough business, and it’s one that we’re going into our 25th-year now. So it’s kind of mandatory to reflect on where we’ve gone, where we’ve been, where we’re going.

Cabozantinib is an interesting compound. It’s one that we discovered in-house and developed in-house and along the way, we’ve learned a lot. I think, did some good work, made the obligatory mistakes along the way in some of the, maybe early trials, certainly in prostate. But we’ve learned a lot and I think we’ve taken that – those learnings and that knowledge and moved the compound forward and the company forward in a way that we think is very enabling for both patients and all of our different stakeholders.

So where we stand