Company Overview

Exelixis, Inc. is a leading oncology company focused on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company trades on NASDAQ under the ticker symbol EXEL and is headquartered in Alameda, California. Originally known as Exelixis Pharmaceuticals, Inc., the company officially changed its name to Exelixis, Inc. in February 2000.

Exelixis has successfully brought four marketed pharmaceutical products to patients, with two of these being formulations of its flagship molecule, cabozantinib. As of September 2025, Exelixis commands a market capitalization of approximately $10.20 billion and employs around 1,150 dedicated professionals.

Core Products and Pipeline

Marketed Products

The company's portfolio includes:

- CABOMETYX (cabozantinib tablets): Approved for the treatment of patients with advanced renal cell carcinoma who have received prior anti-angiogenic therapy.

- COMETRIQ (cabozantinib capsules): Used for the treatment of progressive and metastatic medullary thyroid cancer. Both CABOMETYX and COMETRIQ are derived from cabozantinib, a potent inhibitor of multiple tyrosine kinases, including MET, AXL, RET, and VEGF receptors.

- COTELLIC (cobimetinib): An inhibitor of MEK, used in combination regimens for specific forms of advanced melanoma.

- MINNEBRO (tivanisiran): An oral, non-steroidal selective blocker of the mineralocorticoid receptor, approved for the treatment of hypertension in Japan.

Pipeline Development

Exelixis is actively advancing its product pipeline. A key investigational asset is zanzalintinib, a novel, potent, next-generation oral tyrosine kinase inhibitor (TKI). Zanzalintinib targets VEGF receptors, MET, and the TAM kinases, representing a significant potential future growth driver for the company.

Financial Performance

Recent Financial Results

In 2024, Exelixis reported revenue of $2.17 billion, marking an increase of 18.49% over the previous year's $1.83 billion. Earnings for the year reached $521.27 million, a substantial increase of 150.89%.

For Q2 2025, the company reported earnings per share of $0.75, surpassing analysts' consensus estimates of $0.63 by $0.12. Revenue for the quarter stood at $568.26 million.

Key Financial Metrics

- Market Capitalization: $10.07 billion (as of September 2025, with recent upward trend)

- P/E Ratio: 17.99

- P/E/G Ratio: 0.77

- Beta: 0.32

- EBITDA: $781.52 million

- EBITDA Margin: 33.14%

Market Cap Trends

Exelixis's market capitalization has shown positive momentum. In the last 30 days leading up to September 5, 2025, it increased by 1.31%, moving from $10.07 billion to $10.20 billion. For the full year 2024, the market capitalization saw a significant rise of 27.47%, growing from $7.47 billion in January to $9.51 billion by December.

Strategic Partnerships and Collaborations

Exelixis maintains a robust network of research collaborations and license agreements with leading global pharmaceutical and biotechnology companies. These include:

- Ipsen Pharma SAS

- Takeda Pharmaceutical Company Ltd.

- F. Hoffmann-La Roche Ltd.

- Catalent Pharma Solutions, Inc.

- Iconic Therapeutics, Inc.

- Invenra, Inc.

- Genentech, Inc.

- Bristol-Myers Squibb Company

- Daiichi Sankyo Company, Limited

Additionally, the company has a clinical development agreement and collaboration with Sairopa B.V. and Merck & Co., Inc.

Recent Developments and 2025 Outlook

The U.S. Food and Drug Administration (FDA) is currently reviewing Exelixis' supplemental New Drug Application (sNDA) for CABOMETYX in the treatment of patients with previously treated advanced neuroendocrine tumors (NET). The Prescription Drug User Fee Act (PDUFA) target action date for this review is April 3, 2025.

Looking ahead to 2025, zanzalintinib is poised to become a central focus for the company. Key anticipated pivotal data milestones include top-line results from the STELLAR-303 trial in colorectal cancer and the STELLAR-304 trial in non-clear cell renal cell carcinoma, both expected in the second half of the year.

Stock Performance

EXEL stock has demonstrated strong recent performance, with a 3.54% increase over the past week and a 6.90% rise over the last month. Over the past year, Exelixis has seen a significant increase of 49.29%. The company currently does not pay dividends to its shareholders.

Exelixis continues to solidify its position as a leader in oncology through its expanding product portfolio, strong financial performance, and strategic pipeline development focused on addressing unmet needs in difficult-to-treat cancers.