Welcome to our dedicated page for Exelixis news (Ticker: EXEL), a resource for investors and traders seeking the latest updates and insights on Exelixis stock.
Exelixis, Inc. (EXEL) is an oncology-focused biopharmaceutical company whose news flow centers on cancer therapeutics, clinical trial milestones and financial performance. The company’s updates frequently highlight the commercial progress of its cabozantinib franchise, marketed in the U.S. as CABOMETYX and COMETRIQ, as well as pivotal data and regulatory steps for its investigational kinase inhibitor zanzalintinib.
Investors following EXEL news can expect regular announcements on quarterly and annual financial results, including net product revenues for the cabozantinib franchise, research and development spending and stock repurchase authorizations. Exelixis also issues news releases around guidance for upcoming fiscal years and commentary from management on commercial and pipeline priorities.
A significant portion of Exelixis’ news coverage focuses on clinical and regulatory developments. Recent communications describe detailed results from the STELLAR-303 phase 3 trial of zanzalintinib plus atezolizumab in metastatic colorectal cancer, the planned and ongoing STELLAR-304 and STELLAR-311 pivotal trials in renal cell carcinoma and neuroendocrine tumors, and collaborations such as STELLAR-316 with Natera’s Signatera assay for molecular residual disease–guided therapy. Additional news addresses subgroup analyses from the CABINET trial of CABOMETYX in advanced neuroendocrine tumors and regulatory approvals for cabozantinib-based therapies in various indications.
Corporate and investor-relations events are another recurring theme in EXEL news. The company announces participation in major healthcare and investor conferences, R&D-focused webcasts and leadership changes disclosed via Form 8-K. For readers tracking oncology pipelines, solid tumor trial data and the commercial trajectory of CABOMETYX and zanzalintinib, the Exelixis news stream provides ongoing insight into the company’s scientific, clinical and financial developments.
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Exelixis, Inc. (NASDAQ: EXEL) will release its Q1 2023 financial results on May 9, 2023, after market close. A conference call and webcast will follow at 5:00 p.m. ET to discuss the results and provide a business update. Investors can access the call via registration on the company’s website. Exelixis is dedicated to developing innovative treatments for cancer, focusing on expanding its product portfolio and advancing its flagship product, CABOMETYX®. The company aims to enhance cancer care through its robust pipeline and collaborations.
Exelixis, Inc. (Nasdaq: EXEL) announced that Carl Feldbaum and Vincent Marchesi will not seek re-election to the Board of Directors during the 2023 Annual Meeting of Stockholders. The Board is nominating Tomas Heyman and Robert Oliver as independent directors to fill their positions. This decision follows unsuccessful settlement negotiations with Farallon Capital Management regarding board member nominations and access to company information. Dr. Stelios Papadopoulos expressed gratitude toward Feldbaum and Marchesi for their service. The upcoming board election aims to enhance corporate governance. Following the election, the Board will consist of 11 members, 10 of whom are independent. The Annual Meeting date has yet to be announced.
Exelixis, Inc. (NASDAQ: EXEL) responds to a letter from Farallon Capital Management, emphasizing its commitment to driving growth and enhancing shareholder value through a strategic focus on its cabozantinib franchise and a promising clinical pipeline, including the next-generation inhibitor zanzalintinib and the ADC XB002. The company has a robust financial position, with approximately
Despite ongoing engagement with Farallon, Exelixis declined to meet Farallon’s demands for extensive confidential information about its pipeline. The company aims to present its board nominations in its upcoming proxy statement for the 2023 Annual Meeting.
Farallon Capital Management, owning approximately 7.2% of Exelixis (NASDAQ: EXEL), calls for change in the company's board, citing a history of shareholder disappointment. Despite significant revenue from cabozantinib, shareholder returns have been underwhelming, averaging less than 1% annually since the IPO. Farallon plans to nominate three independent directors to bring fresh perspectives, improve R&D efficiency, and communicate a coherent strategy. The firm criticizes Exelixis for undisciplined R&D spending, forecasting over $1 billion in 2023 while managing too many simultaneous trials. Investors seek accountability and a commitment to returning capital to shareholders.
Exelixis, Inc. (Nasdaq: EXEL) has authorized a share repurchase program of up to
Exelixis (NASDAQ: EXEL) will present a corporate overview at the 2023 Guggenheim Healthy Altitudes Summit on March 16, 2023, at 10:00 a.m. ET. Interested parties can access the presentation via a webcast on www.exelixis.com. Attendees should log on 15 minutes early for software downloads. A replay will be available for 30 days post-event. Exelixis focuses on innovative cancer treatments, primarily through its flagship drug, CABOMETYX® (cabozantinib), and is committed to expanding its oncology portfolio.
Exelixis, Inc. (NASDAQ: EXEL) announced that its phase 3 CONTACT-03 study did not achieve its primary endpoint of progression-free survival (PFS) when evaluating cabozantinib (CABOMETYX®) in combination with atezolizumab versus cabozantinib alone in patients with advanced renal cell carcinoma (RCC) post-immune checkpoint therapy. The trial included 522 patients but failed to show clinical benefit for the combination treatment. However, the safety profile remained consistent with known effects of individual agents, with no new safety signals observed. Detailed findings will be revealed in a forthcoming medical meeting.