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Exelixis' CEO Discusses Q2 2012 Results - Earnings Call Transcript

Exelixis Inc. (EXEL)

Q2 2012 Earnings Call

August 2, 2012 5:00 PM ET

Executives

Charles Butler – VP, IR

Mike Morrissey – President and CEO

Frank Karbe – EVP and CFO

Gisela Schwab – EVP and Chief Medical Officer

Scott Garland – EVP and Chief Commercial Officer

Analysts

Eric Schmidt – Cowen & Company

Joel Sendek – Stifel Nicolaus

Terence Flynn – Goldman Sachs

Matt Lowe – JP Morgan

David Miller – Biotech Stock Research

John Sonnier – William Blair

Lee Kalowski – Credit Suisse

Biren Amin – Jefferies

Presentation

Operator

Good day, Ladies and gentlemen, and welcome to the Second Quarter 2012 Exelixis’ Financial Results Conference Call. My name is Regina, and I’ll be your conference operator for today. At this time, all participants are in a listen-only mode. Later, we will be conducting a question-and-answer session. (Operator instructions) Today’s event is being recorded for replay purposes.

I would now like to turn the conference over to your host for today Mr. Charles Butler, Vice President of Investor Relations. Please go ahead Mr. Butler.

Charles Butler

Thank you, thank you for joining us for the Exelixis’ second quarter 2012 earnings call. Joining me on today’s call as usual are Mike Morrissey, our President and CEO; Frank Karbe, our CFO; and Gisela Schwab, our CMO. Who will together review our corporate financial and development progress for the quarter ended June 30, 2012. They also will discuss priority activities for the remainder of the year and provide an update on cabozantinib, our lead clinical development program. As a reminder, we are reporting our financial results on a GAAP basis only, and as usual the complete press release with our results can be accessed through our website at exelixis.com.

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