Exelixis, Inc. (NASDAQ:EXEL) announces its preliminary Q4 results, with Cabo franchise revenue coming in at around $300 million, beating the consensus estimate of $280 million. The company expects continued increases in cabo TRx's and NRx's for 1L RCC, which will likely remain as the company's main growth driver in 2022.

The company provided its full 2022-year product sales guidance of $1.325–1.425 billion from currently approved indications, in line with the company's goal to exit 2022 with a $1.5 billion annualized run-rate from RCC in the US.