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. 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.
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.’ 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.
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