Exelixis: From Cancer Therapeutics to Multi-Franchise Oncology Company with Zanzalintinib.

Exelixis operates in the global oncology therapeutics market, one of the fastest-growing sectors in biopharma. The company's cabozantinib franchise, marketed as CABOMETYX and COMETRIQ, generated $1.81 billion in 2024. Exelixis is transitioning into a multi-franchise oncology company with its lead pipeline candidate, zanzalintinib, a third-generation TKI with enhanced selectivity for VEGF receptors, MET, and TAM kinases. Positive top-line results from STELLAR-303 in metastatic CRC were announced, positioning the company to seek regulatory approval in this indication. Exelixis projects zanzalintinib could achieve U.S. revenues of $5 billion by 2033, surpassing the cabozantinib franchise.