Exelixis Shares Plunge 12.14% on Revenue Miss

On July 29, 2025, Exelixis shares dropped 12.14% in pre-market trading, marking a significant decline for the biopharmaceutical company.

Exelixis reported second-quarter revenue that fell short of analyst expectations, leading to a sharp decline in its stock price. The company's revenue for the quarter was significantly lower than the $578.9 million anticipated by ten analysts surveyed by Zacks. This shortfall in revenue, despite the company topping earnings forecasts, contributed to the negative market sentiment surrounding Exelixis.

Exelixis provided guidance for full-year revenue, expecting it to range between $2.25 billion and $2.35 billion. However, the mixed Q2 2025 results, which included a revenue miss, weighed heavily on investor confidence, resulting in a decline in the company's stock price.