Research Feed
Exelixis: Patent Cliff Delayed to 2030, Zanzalintinib PDUFA in 10 Months
EXEL's "patent cliff" narrative is materially de-risked. Two trial wins, two settlements, and a declined IPR push generic CABOMETYX entry to 2030—not 2026-2027 as bears price in. Meanwhile, zanzalintinib (PDUFA Dec 3, 2026) positions the company to transition from single-product to dual-product engi
Disney Q1: Capital Allocation Red Flag During Cash Flow Stress
Disney borrowed $4.6B and repurchased $2.0B of stock while operating cash flow turned sharply negative. This capital allocation decision—levering up for buybacks during a cash burn quarter—raises questions about management discipline. The OpCF decline is worse than headline numbers suggest even afte
VRNS: Management Buying at $33, Stock at $24 After Lawsuit Panic
Varonis (VRNS) cratered -10.8% today (Feb 4) on 8.8× normal volume, closing at $23.67. RSI plunged to 17.7 — extreme oversold territory. The stock is now trading 30% below the $33.45 price where management executed $15M of buybacks just 8 weeks ago (Dec 2025). The selloff appears driven by two facto