Welcome to our dedicated page for Exelixis SEC filings (Ticker: EXEL), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Cabozantinib isn’t the only complex subject inside Exelixis’ SEC filings—royalty waterfalls, phase 3 milestones, and collaboration payments are buried in hundreds of pages. If you have ever wondered, “How do I find Exelixis’ latest 10-Q?” or searched for “Exelixis insider trading Form 4 transactions,” you know the challenge.
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Exelixis (EXEL) posted mixed Q2 2025 results. Net product revenue rose 19% YoY to $520.0 m on continued CABOMETYX growth, lifting six-month product sales 27% to $1.03 b. However, the absence of last year’s $150 m Ipsen milestone drove collaboration revenue down 76% to $48.3 m, pulling total quarterly revenue to $568.3 m (-11%). Operating expenses were flat; yet operating income fell 23% to $213.6 m and net income slid 18% to $184.8 m, or $0.65 diluted EPS (vs $0.77).
Year-to-date momentum remains solid. For the first six months, revenue climbed 6% to $1.12 b and net income jumped 31% to $344.5 m ($1.20 EPS) thanks to stronger U.S. product demand and lower restructuring charges. Operating cash flow improved 38% to $260.4 m.
Capital allocation and balance sheet. The company repurchased 21.7 m shares for $796 m, trimming cash and investments to $1.38 b (-21% YTD) and reducing shares outstanding to 270.1 m. Equity compensation expense was $62 m (+39%).
Pipeline & legal. EXEL settled with Biocon, deferring U.S. generic entry until 1 Jan 2031. ANDA challenges from MSN, Sun and Azurity continue; recent Delaware rulings upheld key patents through 2030, but appeals are pending. R&D spend fell 5% to $200.4 m as the phase 3 zanzalintinib program advances.
Key metrics Q2 2025 vs Q2 2024:
- Total revenue $568.3 m vs $637.2 m
- Product gross margin ~96%
- GAAP EPS $0.65 vs $0.77
- Cash & investments $1.39 b