Exelixis: A Year of Growth and Promise in 2025

Exelixis, Inc. (Nasdaq: EXEL) has announced its preliminary fiscal year 2024 financial results, provided financial guidance for 2025, and outlined key priorities and milestones for the coming year. The company's strong performance in 2024, coupled with its ambitious plans for 2025, has investors optimistic about its future prospects.

In 2024, Exelixis achieved approximately $1.805 billion in preliminary U.S. net product revenues from its cabozantinib franchise, with total revenues reaching approximately $2.165 billion. For 2025, the company projects net product revenues between $1.95 billion and $2.05 billion, and total revenues of $2.15 billion to $2.25 billion. The guidance includes a 2.8% price increase for CABOMETYX effective January 1, 2025.

Exelixis anticipates 2025 to be a year of clinical and regulatory execution, with multiple data readouts for zanzalintinib and across its diversified pipeline of small molecules and biotherapeutics. The company expects to grow cabozantinib franchise revenues, accelerate and expand its zanzalintinib pivotal development program, and advance its therapeutic pipeline.

One of the key drivers for the projected growth in net product revenues is the pending FDA approval for CABOMETYX in neuroendocrine tumors (NET). The U.S. Food and Drug Administration (FDA) is currently reviewing Exelixis' supplemental New Drug Application (sNDA) for this proposed indication, with a Prescription Drug User Fee Act (PDUFA) target action date of April 3, 2025. If approved, this new indication could provide a significant boost to Exelixis' top line.



Exelixis' strong commercial execution in 2024, with net product revenues of $1.805 billion, sets a solid foundation for continued growth in 2025. The company's balanced approach to capital allocation, leveraging its strong balance sheet to execute on business development opportunities within the GU and GI oncology space, while using free cash flows to fund its stock repurchase program and return capital to shareholders, signals management confidence in the company's future prospects.

In conclusion, Exelixis' preliminary fiscal year 2024 financial results and 2025 financial guidance demonstrate the company's strong commercial performance and growth trajectory. With a pending FDA approval for CABOMETYX in neuroendocrine tumors, multiple data readouts for zanzalintinib, and a diversified pipeline of small molecules and biotherapeutics, Exelixis is well-positioned to continue its growth momentum in 2025. Investors should closely monitor the company's progress as it works toward its goal of building a multi-product, multi-franchise oncology business.