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R&D at other companies

Eli Lilly logo
Eli LillyLLY
$3.51B+28.4%
Summit Therapeutics logo
Summit TherapeuticsSMMT
$132.62M+159%
Incyte logo
IncyteINCY
$515.9M+18.0%
Ionis Pharmaceuticals logo
Ionis PharmaceuticalsIONS
$228.9M+1.6%
BridgeBio Pharma logo
BridgeBio PharmaBBIO
$126.64M+13.6%
Neurocrine Biosciences logo
Neurocrine BiosciencesNBIX
$296.2M+12.5%

Other financials

Income statement

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Revenue$610.8M+10.0%
Gross profit$590.9M+10.2%
Operating income$251.3M+34.5%
Net income$210.5M+31.9%
EPS (diluted)$0.79+43.6%

Balance sheet

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Cash & equivalents$226.2M+23.1%
Total debt$169.5M-9.4%
Total equity$1.9B-9.2%
Total assets$2.6B-8.6%

Cash flow

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Operating cash flow$251.8M+19.1%
CapEx$1.5M-48.9%
Free cash flow$250.3M+20.1%

Valuation

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Market cap$13.05B+10.1%
Enterprise value$12.99B+9.5%
P/E15.7×-2.8×
P/S5.5×+0.3×

Profitability

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Gross margin96.4%-0.3pp
Operating margin39.4%+6.3pp
Net margin35.1%+7.1pp
FCF margin38.6%+2.9pp

Returns & leverage

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Return on equity41%+10.8pp
Debt / equity0.1×0.0×
Current ratio3.3×-0.2×

Where this comes from

Reported directly by Exelixis in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

The official record: Exelixis’s 10-Q, filed May 5, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Exelixis's R&D?
Exelixis (EXEL) reported R&D of $199.92M in Q1 2026.
How has Exelixis's R&D changed year-over-year?
Exelixis's R&D decreased by 5.8% year-over-year, from $212.23M to $199.92M.
What is the long-term trend for Exelixis's R&D?
Over 4 years (2021 to 2025), Exelixis's R&D has grown at a 4.4% compound annual growth rate (CAGR), from $693.72M to $825M.
What does R&D mean?
Spending on the discovery and clinical testing of new medical treatments.
How do you interpret R&D?
Higher spending indicates a commitment to pipeline expansion, though it may temporarily depress current profitability.
How does R&D compare across companies?
A critical benchmark for all biotech firms; peers vary based on clinical trial stages.