What should I know about Exelixis?
Exelixis is a US oncology company, based in Alameda, California, that develops and sells cancer medicines. It describes itself in its Q2 2026 results as a "globally ambitious oncology company" focused on next-generation cancer treatments. Its income comes mainly from sales of cabozantinib medicines in the United States and from royalties paid by partners that sell the drug elsewhere. The company trades on the Nasdaq under the ticker EXEL.
What are Exelixis's main drugs?
Exelixis's main product is Cabometyx (cabozantinib), a cancer drug sold in the United States. According to its Q2 2026 results, Cabometyx made $570.6 million in US net product revenue in the quarter. Cometriq, an earlier cabozantinib product, added $2.4 million. Royalties of $53.2 million came from partners Ipsen and Takeda, which sell cabozantinib outside the US. Total revenue was $628.7 million, up from $568.3 million a year earlier.
What is Exelixis currently developing?
Exelixis's lead development drug is zanzalintinib. The Q2 2026 results say the US FDA accepted a marketing application in February 2026 for zanzalintinib with atezolizumab in previously treated metastatic colorectal cancer. A decision is due by 3 December 2026. The application is based on the Phase 3 STELLAR-303 trial, which met its overall survival goal in the main population. A subgroup analysis showed a trend favouring the drug that was not statistically significant. The company's 2026 guidance does not include any zanzalintinib sales.
Is Exelixis publicly traded, and how big is it?
Yes. Exelixis trades on the Nasdaq under the ticker EXEL. Its market capitalisation was about $14.7 billion on 8 October 2026. Revenue for the second quarter of 2026 was $628.7 million. The company expects total 2026 revenue of $2.500 billion to $2.550 billion, based on its Q2 results.