Clinical Stage Biotech

product pipeline / R&D affecting expense

“Clinical trial costs by scientific modalities, by product and by product candidate were as follows (dollars in thousands): Three Months Ended March 31, Percent Change 2026 2025 Small molecules: Zanzalintinib $ 37,273 $ 41,120 -9 % Cabozantinib 4,324 9,983 -57 % Other small molecules 1,589 5,516 -71 % Total small molecules 43,186 56,619 -24 % Biotherapeutics 8,218 6,122 34 % Total clinical trial costs $ 51,404 $ 62,741 -18 % 31 Table of Contents T he decrease in research and development expenses for the three months ended March 31, 2026, as compared to the corresponding prior year period, was primarily related to decreases in clinical trial costs and manufacturing costs to support our development candidates (presented as part of other development costs), partially offset by an increase in drug discovery-related license and other collaboration costs.”

EXEL 10-Q

restructuring affecting expense

“Restructuring expenses were as follows (dollars in thousands): Year Ended December 31, Percent Change 2025 2024 Restructuring expenses $ 20,510 $ 33,660 -39 % Non-Operating Income Non-operating income was as follows (dollars in thousands): Year Ended December 31, Percent Change 2025 2024 Interest income $ 69,213 $ 77,156 -10 % Other expenses, net (198) (133) 49 % Non-operating income $ 69,015 $ 77,023 -10 % The decrease in non-operating income for the year ended December 31, 2025, as compared to 2024, was primarily the result of a decrease in interest income due to lower average interest-bearing investment balances, and lower average interest rates.”

EXEL 10-K

restructuring

“Peterson and her designated recipient will receive: (i) the severance payments and benefits that she is entitled to under the Company’s Change in Control and Severance Benefit Plan (“Plan”); and (ii) an amount in consideration of any unvested stock options and restricted stock units forfeited pursuant to the Plan, in the gross amount of $1,000,000, subject to the terms and conditions set forth in the Separation Agreement, including execution and non-revocation of the Release of Claims attached thereto.”

EXEL 10-Q