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Insider Trading & Hedge Fund Data, and Investment Newsletter From Insider Monkey

Insider Trading & Hedge Fund Data, and Investment Newsletter From Insider Monkey

Is Exelixis, Inc. (EXEL) the Best Performing Biotech Stock in 2024?

Insider Trading & Hedge Fund Data, and Investment Newsletter From Insider Monkey
Summary
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89% Informative

The biotechnology sector is expanding due to rising demand for novel therapies, advancement in technology, and government assistance.

Biotech businesses have been further challenged by volatile market conditions, which have led several of them to reduce programs and lay off huge numbers of employees to save money.

Despite its potential, there are many risks associated with investing in biotech companies.

Exelixis, Inc. (NASDAQ:EXEL) reported strong financial results in Q3 2024 , with total revenues of $539.5 million , up from $471.9 million last year .

The cabozantinib franchise generated $478.1 million in net product revenues.

Overall EXEL ranks 6th on our list of the best performing biotech stocks in 2024 .