Exelixis Is Focusing On Neuroendocrine Tumors — But Is a $100 Million Windfall Next?

Exelixis, Inc. reported mixed results for the third quarter of 2025, reflecting both achievement and challenges in its ongoing operations. For the period ending October 3, 2025, Exelixis demonstrated a continued strong financial performance, driven primarily by its cabozantinib franchise. Cabozantinib experienced robust growth in both U.S. and global markets, with U.S. net product revenues growing 14% year-over-year to $543 million. The company also achieved a notable 46% share of the total oral TKI market. Additionally, the neuroendocrine tumor indication contributed to about 6% of cabozantinib’s demand, presenting a potential growth opportunity. On the innovation front, Exelixis is advancing zanzalintinib, its next potential oncology flagship. Zanzalintinib has shown promising results when combined with atezolizumab in colorectal cancer (CRC) patients, marking it as a potential significant contender in this high-unmet-need market.