Exelixis IncEXEL

Why is Exelixis (EXEL) moving?

Q3 202622 Jun – 15 Sep 2026

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Zanzalintinib launch preparation Exelixis is preparing to launch zanzalintinib in third-line colorectal cancer after the FDA accepted its application with a December 3, 2026 decision date. The company sees a $1.5 billion market opportunity, giving EXEL a new growth driver beyond its flagship Cabometyx.
This is the main new pipeline catalyst that could add a second major revenue stream.
Cabometyx NET ramp slower than expected Exelixis lowered its 2026 revenue guidance by $50 million because the neuroendocrine tumor launch of Cabometyx is ramping more slowly than planned. The company says the gap is temporary, but it means near-term sales will be lower than hoped.
This is the key negative that explains why guidance was cut and tempers the growth story.
Strong Q2 results and new buyback Exelixis beat second-quarter earnings estimates and announced a new $750 million share repurchase program after completing the previous one. The buyback can support the stock price by reducing the number of shares outstanding.
This shows financial strength and a concrete action that can lift the stock price.
Cabometyx franchise remains solid Cabometyx sales grew about 10% year-over-year, and Exelixis still aims for a $3 billion franchise. It holds roughly 47% of new-patient share in neuroendocrine tumors, showing the core business is still expanding even if the launch is slower than expected.
This provides a counterweight to the guidance cut and shows the base business is healthy.

August 202622 Jun – 15 Sep 2026

▲3▼1

Zanzalintinib launch preparation Exelixis is preparing to launch zanzalintinib in third-line colorectal cancer after the FDA accepted its application with a December 3, 2026 decision date. The company sees a $1.5 billion market opportunity, giving EXEL a new growth driver beyond its flagship Cabometyx.
This is the main new pipeline catalyst that could add a second major revenue stream.
Cabometyx NET ramp slower than expected Exelixis lowered its 2026 revenue guidance by $50 million because the neuroendocrine tumor launch of Cabometyx is ramping more slowly than planned. The company says the gap is temporary, but it means near-term sales will be lower than hoped.
This is the key negative that explains why guidance was cut and tempers the growth story.
Strong Q2 results and new buyback Exelixis beat second-quarter earnings estimates and announced a new $750 million share repurchase program after completing the previous one. The buyback can support the stock price by reducing the number of shares outstanding.
This shows financial strength and a concrete action that can lift the stock price.
Cabometyx franchise remains solid Cabometyx sales grew about 10% year-over-year, and Exelixis still aims for a $3 billion franchise. It holds roughly 47% of new-patient share in neuroendocrine tumors, showing the core business is still expanding even if the launch is slower than expected.
This provides a counterweight to the guidance cut and shows the base business is healthy.

Latest22 Jun – 15 Sep 2026

▲3▼1

Zanzalintinib launch preparation Exelixis is preparing to launch zanzalintinib in third-line colorectal cancer after the FDA accepted its application with a December 3, 2026 decision date. The company sees a $1.5 billion market opportunity, giving EXEL a new growth driver beyond its flagship Cabometyx.
This is the main new pipeline catalyst that could add a second major revenue stream.
Cabometyx NET ramp slower than expected Exelixis lowered its 2026 revenue guidance by $50 million because the neuroendocrine tumor launch of Cabometyx is ramping more slowly than planned. The company says the gap is temporary, but it means near-term sales will be lower than hoped.
This is the key negative that explains why guidance was cut and tempers the growth story.
Strong Q2 results and new buyback Exelixis beat second-quarter earnings estimates and announced a new $750 million share repurchase program after completing the previous one. The buyback can support the stock price by reducing the number of shares outstanding.
This shows financial strength and a concrete action that can lift the stock price.
Cabometyx franchise remains solid Cabometyx sales grew about 10% year-over-year, and Exelixis still aims for a $3 billion franchise. It holds roughly 47% of new-patient share in neuroendocrine tumors, showing the core business is still expanding even if the launch is slower than expected.
This provides a counterweight to the guidance cut and shows the base business is healthy.