Exelixis Inc. (NASDAQ:EXEL) is one of the best low priced growth stocks to invest in now. On May 5, Exelixis reported total revenues of $610.8 million for Q1 2026, up from $555.4 million in Q1 2025. This increase was driven primarily by US net product revenues of $555 million from its cabozantinib franchise, alongside a rise in collaboration revenues to $55.8 million. The company achieved a GAAP net income of $210.5 million ($0.79 diluted EPS) and a non-GAAP net income of $232.8 million ($0.87 diluted EPS), while maintaining its full-year 2026 financial guidance.
On the clinical and regulatory front, the US FDA accepted Exelixis’ first NDA for zanzalintinib in combination with atezolizumab for previously treated metastatic colorectal cancer, setting a target action date of December 3. The company expanded its GI sales team to support this pipeline and continued progressing across multiple zanzalintinib clinical trials. These include upcoming data readouts for the STELLAR-303 and STELLAR-304 studies, active enrollment in STELLAR-311, and the recent initiation of the phase 2 STELLAR-201 trial for recurrent meningioma.
Financially, Exelixis Inc. (NASDAQ:EXEL) expects to finish its existing $750 million stock repurchase program this month, having bought back $590.6 million in shares as of the end of Q1. Additionally, the Board of Directors authorized a new stock repurchase program in May to buy back up to an extra $750 million of common stock by the end of 2027. This newly approved initiative represents the sixth share repurchase program launched by the company since March 2023.
Exelixis Inc. (NASDAQ:EXEL) is an oncology-focused biopharmaceutical company based in Alameda. It develops small-molecule cancer therapies, led by CABOMETYX (cabozantinib), its main revenue driver. It is also advancing next-gen drugs like zanzalintinib and expanding into new cancer treatment areas.
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