EXEL
New deal energy
Exelixis is sounding less like a company resting on one hit drug and more like one with its eyes on the next act. CEO Michael Morrissey said the company wants to expand its oncology franchises through internal development, selective business development, and possible collaborations.
That matters because Cabozantinib has already crossed the $3 billion mark in cumulative sales, which is a pretty solid reminder that Exelixis knows how to turn a cancer drug into a serious business. But pharma investors also know the sequel is usually the hard part.
Zanzalintinib enters the chat
The company is also getting ready to launch zanzalintinib, its next oncology hope. If that rollout lands well, it could help Exelixis look less like a one-drug story and more like a mini-franchise machine.
On the flip side, all this deal talk can be a double-edged sword. Selective business development sounds great until you remember biotech shopping sprees can get expensive fast. So yes, there’s upside here — but also the usual biotech question mark hanging over the whole thing.
Why investors should care
For shareholders, the big question is whether Exelixis can keep extending its oncology run without overpaying for growth. If zanzalintinib gains traction and management finds smart partnerships, the stock gets a cleaner path to new highs.
Big picture: Exelixis is trying to prove it’s more than Cabozantinib, and the market usually rewards biotech companies that can make that argument convincingly.