EXELIXIS Business Summary

Exelixis, Inc. (EXEL) is a commercially-focused biopharmaceutical company specializing in the discovery, development, and commercialization of small molecule and biotherapeutic oncology treatments. The company generates the vast majority of its revenue through net product sales of its flagship cabozantinib franchise, which includes CABOMETYX and COMETRIQ, alongside royalties and milestone payments from strategic collaborations with partners such as Genentech, Daiichi Sankyo, Ipsen, and Takeda. Its primary business segments are centered on advanced treatments for renal cell carcinoma (RCC), hepatocellular carcinoma (HCC), neuroendocrine tumors (NETs), and differentiated thyroid cancer. As of early 2026, Exelixis maintains a dominant market position as a leading provider of tyrosine kinase inhibitors (TKIs) for RCC, competing directly with large-cap biotechnology and pharmaceutical firms including Alnylam Pharmaceuticals, Biogen, Incyte, and Exact Sciences. Exelixis was founded in 1994 by a distinguished group of scientists and industry leaders, including Corey Goodman, Gerry Rubin, Spyridon Artavanis-Tsakonas, and current Board Chair Stelios Papadopoulos. The executive leadership team is led by President and CEO Michael M. Morrissey, Ph.D., a veteran drug developer with a pedigree from Novartis and Berlex Biosciences who has overseen the company’s transition to a multi-product commercial entity. Key executives include Christopher J. Senner (EVP and CFO), formerly of Gilead Sciences, and Dana T. Aftab, Ph.D., who was appointed EVP of Research and Development in late 2025 to oversee the entire R&D and medical affairs continuum. Other critical leadership roles are held by P.J. Haley (EVP, Commercial) and Jeffrey J. Hessekiel (EVP and General Counsel). The company is backed by major institutional investors, including BlackRock, The Vanguard Group, and Farallon Capital Management, reflecting its status as a mature, high-growth player in the oncology sector.