Exelixis Raises Full-Year Revenue Outlook After Strong Q1 2025 Performance

Exelixis, Inc. reported first-quarter 2025 revenues of $555.4 million, a 31% increase year-over-year, driven by robust U.S. sales of CABOMETYX®, which contributed $510.9 million in net revenues. GAAP diluted EPS rose to $0.55, while non-GAAP diluted EPS reached $0.62. On this momentum, the company raised its full-year 2025 guidance by $100 million, with projected total revenues now between $2.25 billion and $2.35 billion.

R&D expenses declined to $212.2 million, while SG&A costs increased due to higher marketing and personnel expenses. The quarter also marked the FDA approval of CABOMETYX for previously treated advanced neuroendocrine tumors, strengthening its oncology portfolio. Exelixis is preparing for several clinical milestones in the second half of 2025, including pivotal trial readouts for zanzalintinib in colorectal and renal cancers. The company’s stock repurchase programs have reduced diluted shares outstanding to 288.2 million.

Exelixis, Inc. (Nasdaq: EXEL) announced that its Board of Directors has authorized an additional $500 million stock repurchase program, which will be executed before December 31, 2025. This decision reflects the company’s commitment to returning value to shareholders.

The announcement was made on February 20, 2025, and a press release detailing the authorization has been issued. Exelixis continues to focus on strategic financial management while advancing its oncology pipeline.