Exelixis, Ensysce Report Strong Biotech Advances

Exelixis reported strong Q1 2025 revenue of $555.4 million, a 31% year-over-year rise, fueled by high demand for its cancer drug Cabometyx, which received approval for advanced neuroendocrine tumors in March. Net profit climbed to $159.6 million, or 55 cents per share, compared to $37.3 million a year earlier, while adjusted EPS beat analyst estimates at 62 cents. The company increased its 2025 revenue forecast to between $2.25 and $2.35 billion, citing continued growth in Cabometyx sales. Separately, Ensysce Biosciences shares surged 32% after receiving a patent for its opioid use disorder drug PF9001 and reporting progress on pain management therapies, despite a first-quarter net loss. Ensysce remains committed to advancing its clinical pipeline and expects ongoing losses as it seeks regulatory approvals. These results reflect significant developments for both companies in the pharmaceutical sector.