Exelixis okays $750M buyback; results for quarter ended Oct 3, 2025

Exelixis (EXEL) reported quarterly results via a press release for the quarter ended October 3, 2025, which was furnished as Exhibit 99.1.

Rhea-AI Filing Summary

Exelixis (EXEL) reported quarterly results via a press release for the quarter ended October 3, 2025, which was furnished as Exhibit 99.1. The company also provided a corporate update.

The Board authorized a stock repurchase program allowing Exelixis to buy back up to $750 million of its common stock before December 31, 2026. This authorization sets a ceiling and timeframe for potential repurchases.

Insights

Equity capital markets analyst

$750M buyback authorization; results furnished, details in exhibit.

Exelixis disclosed a Board authorization to repurchase up to $750,000,000 of common stock before December 31, 2026. An authorization outlines the maximum amount and window during which the company may repurchase shares.

The company also furnished financial results for the quarter ended October 3, 2025 via Exhibit 99.1. Specific revenue or earnings figures are not included in the excerpt.

Repurchase activity, if executed, would occur within the stated limit and timeframe. Actual pace and volume are not specified in the excerpt.

8-K Event Classification

3 items: 2.02, 8.01, 9.01

3 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Exelixis (EXEL) announce in its 8-K?

Exelixis furnished quarterly financial results for the quarter ended October 3, 2025, and announced a stock repurchase authorization.

How large is Exelixis' stock repurchase authorization?

The Board authorized the repurchase of up to $750 million of common stock.

What is the timeframe for Exelixis’ buyback program (EXEL)?

Repurchases may occur before December 31, 2026.

Where can I find Exelixis’ detailed quarterly results?

They are furnished as Exhibit 99.1 to the 8-K.

Which quarter’s results did Exelixis furnish?

Results for the quarter ended October 3, 2025.

Does the buyback authorization commit Exelixis to repurchase shares?

It authorizes up to a set amount and timeframe; it does not specify execution details in the excerpt.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 11/04/2025 - 04:25 PM Learn about SEC filing dates

0000939767false00009397672025-11-042025-11-04

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): November 04, 2025

EXELIXIS, INC.

(Exact name of registrant as specified in its charter)

Delaware			000-30235			04-3257395
(State or Other Jurisdiction of Incorporation)			(Commission File Number)			(IRS Employer Identification No.)

1851 Harbor Bay Parkway

Alameda, California 94502

(Address of principal executive offices) (Zip Code)

(650) 837-7000

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading Symbol(s)			Name of each exchange on which registered
Common Stock $0.001 Par Value per Share			EXEL			The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On November 4, 2025, Exelixis, Inc. (Exelixis) issued a press release announcing its financial results for the quarter ended October 3, 2025, and providing a corporate update. A copy of such press release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.

The information in this report, including the exhibit hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended. The information contained in this report and in the accompanying exhibit shall not be incorporated by reference into any filing with the U.S. Securities and Exchange Commission made by Exelixis, whether made before or after the date hereof, regardless of any general incorporation language in such filing.

Item 8.01. Other Events.

Stock Repurchase

On November 4, 2025, Exelixis announced that the Board of Directors authorized the repurchase of up to $750 million of its common stock before December 31, 2026. A copy of the press release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference only with respect to the discussion in the section titled “Stock Repurchase Program.”

Item 9.01. Financial Statements and Exhibits.

(d)     Exhibits.

Exhibit Number

Exhibit Description

99.1

Press Release issued November 4, 2025

104

Cover Page Interactive Data File

The cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

									EXELIXIS, INC.
November 4, 2025									/s/ Jeffrey J. Hessekiel
Date									Jeffrey J. Hessekiel
									Executive Vice President and General Counsel