Overview
Exelixis develops and commercializes medicines for cancer. Its products aim to treat advanced cancers, including renal cell carcinoma, by targeting multiple biological pathways and supporting combination regimens to achieve effective, tolerable, and durable responses. The company generates revenue from sales of approved therapies and strategic partnerships, backed by extensive research, clinical trials, and regulatory approvals to bring new drugs to market. Compared with peers, Exelixis focuses on a pipeline that combines multi-pathway targeting with combination therapies to improve patient outcomes. Its overall goal is to advance cancer treatment and offer patients better chances of remission through its ongoing drug development programs.
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About Exelixis
Industries
Company Size
1,001-5,000
Company Stage
IPO
Headquarters
San Francisco, California
Founded
1994
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Simplify's Take
What believers are saying
- Cabometyx U.S. net product revenue hit $573 million in Q2 2026, up 10%.
- Exelixis reaffirmed 2026 revenue guidance at $2.5 billion-$2.55 billion despite slower NET ramp.
- Zanzalintinib's colorectal cancer filing remains the next major catalyst after March 2027 FDA review.
What critics are saying
- Zanzalintinib FDA review slipped September 10, 2026; PDUFA moved to March 3, 2027.
- Cabometyx still drives almost all revenue, leaving Exelixis exposed to one franchise.
- MSN's November 2026 trial over patent 12,128,039 threatens cabozantinib protection and 2032 exclusivity.
What makes Exelixis unique
- Cabometyx anchors Exelixis with multiple tumor approvals and durable U.S. oncology sales.
- August 31, 2026 Federal Circuit win preserved cabozantinib patent validity through at least 2030.
- Exelixis couples cash generation with disciplined buybacks, retiring 93.3 million shares by June 2026.
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Funding
Total Funding
$340.3M
Above
Industry Average
Funded Over
7 Rounds
Benefits
Health Insurance
Dental Insurance
Vision Insurance
Life Insurance
Disability Insurance
Health Savings Account/Flexible Spending Account
Unlimited Paid Time Off
Flexible Work Hours
Paid Vacation
Paid Sick Leave
Paid Holidays
401(k) Retirement Plan
401(k) Company Match
Performance Bonus
Employee Stock Purchase Plan
Stock Price
Growth & Insights and Company News
6 month growth
3%1 year growth
3%2 year growth
3%SilverEdge cooperative. How is Incyte's stock performance compared to other biotech stocks? Aanchal Sugandh Barchart Tue Sep 22, 11:53PM CDT Based in Wilmington, Delaware, Incyte Corporation (INCY) is a global biopharmaceutical company that discovers, develops, and commercializes innovative treatments for cancer, blood disorders, and immune-mediated diseases. The company's marketed therapies include JAKAFI for blood cancer, ICLUSIG for leukemia, PEMAZYRE for bile-duct cancer, MONJUVI/MINJUVI for lymphoma, and NIKTIMVO for fibrotic disease. Incyte is also advancing a growing clinical pipeline to treat additional cancers, myeloproliferative neoplasms, inflammatory diseases, and rare disorders. These efforts have helped the company reach a market cap of approximately $25.3 billion, putting it above the $10 billion threshold commonly used to classify large-cap stocks. The stock is currently trading just 4.3% below its 52-week high of $132.60, reached in July. Strength has been particularly evident in recent months, with Incyte's shares gaining 22.5% over the past three months and outperforming the State Street SPDR S&P Biotech ETF (XBI), which advanced 11% over the same period. The stock's performance remains solid over longer time frames, although it has trailed the broader biotech ETF. Over the past 52 weeks, Incyte's shares have climbed 49.8%, compared with a 66.4% increase for XBI. Similarly, INCY stock is up 28.5% year-to-date (YTD), while the ETF climbed 32.8%. From a technical perspective, the recent strength is also reflected in Incyte's moving averages. Since June, the stock has continued to trade above both its 50-day moving average of $122.72 and its 200-day moving average of $105.88, pointing to sustained upward momentum. Incyte's recent rally reflects improving fundamentals and a stronger biotech backdrop, with investor interest in drug-development pipelines and innovation gaining momentum. The company's growth outlook has strengthened alongside better performance across its commercial portfolio, providing another layer of support for the stock. Its Q2 FY2026 net sales increased 40.5% year over year (YOY) to $1.5 billion, while sales excluding a $246 million one-time benefit from Opzelura, a topical skin-treatment drug, rose 17%. Jakafi grew 6.9% YOY to $816.7 million, and Incyte's hematology and oncology portfolio surged 69%. Looking ahead, management also raised FY2026 sales guidance to $5.13 billion-$5.26 billion. Incyte is further expanding its portfolio to diversify beyond Jakafi ahead of the drug's expected patent expiry in 2028. Opzelura continues to gain traction, while Niktimvo, Monjuvi/Minjuvi and Zynyz, a skin-cancer treatment, are emerging as additional revenue streams. For perspective, Incyte's rival Exelixis, Inc. (EXEL) has posted comparable gains, with EXEL stock surging 46.9% over the past 52 weeks and rising 32.7% YTD. Against this backdrop, analyst sentiment toward INCY stock remains favorable. Among 28 analysts covering the name, INCY has an overall "Moderate Buy" rating, with an average price target of $128.84. This implies potential upside of 1.5% from current levels. On the date of publication, Aanchal Sugandh did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
Exelixis has spent approximately $1.1 billion buying back its own shares over the past year, reducing shares outstanding by 8.0%. This mechanical effect means existing shareholders now hold larger stakes in the business without taking any action. The company's CABOMETYX oncology drug generated $573 million in US net product revenue in the second quarter of 2026, up roughly 10% year-on-year. Exelixis converts 47.5% of revenue into free cash flow, which funds the buyback programme. The company has revised its 2026 total revenue guidance downward to $2.50 billion to $2.55 billion, lowering the midpoint by $50 million. Management attributed this to a slower ramp for the neuroendocrine tumour indication. The stock trades at 15.8 times trailing earnings. The company's next growth driver, zanzalintinib, awaits a regulatory decision for colorectal cancer in early December 2026.
Why this top-ranked IBD 50 stock just plummeted on its earnings. * ALLISON GATLIN * Updated 05:08 PM ET 08/05/2026 IBD 50 stock Exelixis (EXEL) toppled late Wednesday on a mixed second-quarter report, as sales of its bread-and-butter cancer drug, cabozantinib, lagged expectations. The biotech company sells cabozantinib under the brand names Cabometyx and Cometriq. The former - a treatment for kidney, liver and thyroid cancers as well as neuroendocrine tumors - brought in $570.6 million in quarterly sales. Cometriq, which treats a form of thyroid cancer, generated $2.4 million in sales. But analysts called for a healthier $578 million and $3 million in sales, respectively. Biotech's Next Boom? Inside The Multibillion Dollar Cancer Detection Market On this episode of Growth Stories, Investors take a look at the groundbreaking tests that could revolutionize cancer detection and what investors need to know about this evolving market. 0 seconds of 10 minutes, 57 secondsVolume 0% Biotech's Next Boom? Inside The Multibillion Dollar Cancer Detection Market See All Videos In response, Exelixis stock slumped more than 5% in after-hours trades on today's stock market, hitting 53.50. Exelixis' sales disappointment. The sales disappointment led Exelixis to cut its earnings outlook for the year. The company now sees $2.5 billion to $2.55 billion in sales. At the midpoint, that's a drop of $50 million from Exelixis' prior guidance from three months ago. More promisingly, Exelixis topped earnings forecasts, reporting an adjusted 91 cents per share, vs. the Street's forecast for 85 cents, according to FactSet. Earnings grew more than 21% as total sales climbed close to 11%, reaching $627.8 million. That includes sales of Cabometyx and Cometriq, as well as $53.2 million in royalties from partners Ipsen and Takeda Pharmaceutical. But sales lagged projections for $636 million. Investors are now watching closely the next steps for zanzalintinib. The Food and Drug Administration is reviewing the experimental prostate cancer treatment for potential approval in December. Exelixis stock is trading above its key moving averages with a nearly perfect IBD Digital Composite Rating of 98. The CR is a 1-99 measure of a stock's fundamental and technical performance. The stock also has a strong Relative Strength Rating of 90, putting its 12-month performance in the leading 10% of all stocks. Exelixis stock ranks No. 16 on the IBD 50 list of elite growth stocks. IBD newsletters. Get exclusive IBD analysis and actionable news daily. Follow Allison Gatlin on X/Twitter at @AGatlin_IBD. YOU MAY ALSO LIKE:
Exelixis reported second quarter 2026 total revenues of $628.7 million, up from $568.3 million in the same period last year. Net product revenues reached $573.0 million, compared to $520.0 million in 2025, driven primarily by increased sales volume. The company reported GAAP net income of $212.1 million, or $0.82 per diluted share, versus $184.8 million, or $0.65 per diluted share, in the prior year period. Research and development expenses increased to $212.0 million from $200.4 million. Exelixis is preparing for a potential launch of zanzalintinib in metastatic colorectal cancer, pending regulatory approval. The FDA assigned a target action date of 3 December 2026 for the new drug application. The company expects topline results from its phase 3 STELLAR-304 trial in the second half of 2026.
Exelixis announces results from subgroup analysis of phase 3 CABINET pivotal trial evaluating CABOMETYX(R)(cabozantinib) in non-functional and functional neuroendocrine tumors at ASCO 2026. May 30, 2026 san francisco biotechnology network news news, syndication comments off on exelixis announces results from subgroup analysis of phase 3 CABINET pivotal trial evaluating CABOMETYX(R)(cabozantinib) in non-functional and functional neuroendocrine tumors at ASCO 2026. ALAMEDA, Calif.-(BUSINESS WIRE)-Exelixis, Inc. (Nasdaq: EXEL) today announced results from a subgroup analysis of the phase 3 CABINET pivotal trial, which showed that CABOMETYX(R)(cabozantinib) provided significant improvements in progression-free survival (PFS) versus placebo in patients with previously treated advanced neuroendocrine tumors (NET) regardless of functional status. These data will be presented at the 2026 American Society of Clinical Oncology (ASCO) Annual Meeting to be held fr Click here to view original post
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About Exelixis
Industries
Company Size
1,001-5,000
Company Stage
IPO
Headquarters
San Francisco, California
Founded
1994
Exelixis is Hiring for 60 Jobs on Simplify!
Find jobs on Simplify and start your career today