Exelixis, Inc. (EXEL) Halts Phase 3 STELLAR-305 Trial

We recently compiled a list of the 11 Cheap Biotech Stocks to Buy According to Hedge Funds. Exelixis, Inc. is one of them.

Exelixis, Inc. (NASDAQ:EXEL) is a biotechnology company focused on therapies for difficult-to-treat cancers, with its flagship product CABOMETYX (cabozantinib) driving growth in advanced renal cell carcinoma and medullary thyroid cancer. The company also maintains a promising oncology pipeline, including candidates such as zanzalintinib and XL309.

In Q2 2025, Exelixis, Inc. (NASDAQ:EXEL) reported revenues slightly below expectations for CABOMETYX, contributing to a modest stock decline. The corporation chose not to pursue the Phase 3 portion of the STELLAR-305 trial for squamous cell carcinoma, prioritizing more commercially promising opportunities.

Exelixis, Inc. (EXEL) Halts Phase 3 STELLAR-305 Trial

Pipeline development remains a key focus, with ongoing Phase 1 studies for XL309, XB010, and XB628, and FDA clearance for an IND application for XB371. These efforts aim to diversify Exelixis, Inc. (NASDAQ:EXEL)’ portfolio beyond CABOMETYX. Collaborative partnerships, particularly with Bristol-Myers Squibb for combination therapies in renal cell carcinoma, continue to support market leadership and strategic growth.

While we acknowledge the risk and potential of EXEL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than EXEL and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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