Exelixis advances cancer treatment with cabozantinib and zanzalintinib breakthroughs
Exelixis has made progress in cancer treatment with two key drugs: cabozantinib and zanzalintinib. The company's lead product, cabozantinib, remains a major revenue driver, while zanzalintinib advances through multiple late-stage trials.
In 2025, Exelixis reported $2.3 billion in revenue, mostly from cabozantinib sales. The firm is also expanding its pipeline with new antibody-drug conjugates and strategic partnerships.
Cabozantinib, marketed as Cabometyx and Cometriq, treats several cancers, including kidney, thyroid, liver, and pancreatic neuroendocrine tumours. It is also under investigation in a phase 3 trial for advanced neuroendocrine tumours. Partnerships with Takeda Pharmaceutical and Ipsen have helped distribute the drug in Japan, boosting its global reach.
Zanzalintinib, another key drug, recently gained approval in combination with atezolizumab for metastatic colorectal cancer. Beyond this, it is being tested in four phase 3 trials and three early-stage studies. Two of these late-stage trials focus on renal cell carcinoma—one pairing it with Belzutifan, the other with Nivolumab in non-clear cell cases. A separate phase 2/3 trial is assessing zanzalintinib as a standalone treatment for neuroendocrine tumours.
Exelixis is also working with Natera to enrol stage 2 and 3 colorectal cancer patients in zanzalintinib's phase 3 trial. Meanwhile, the company's early-stage pipeline includes antibody-drug conjugates designed to target cancer cells more precisely. Financially, Exelixis has authorised a $750 million stock repurchase programme, reflecting confidence in its future growth.
Exelixis continues to strengthen its position in oncology with cabozantinib's strong sales and zanzalintinib's expanding trial programme. The company's 2025 earnings per share reached $2.78, supported by its blockbuster drug and ongoing research. New partnerships and precision therapies further solidify its role in cancer treatment development.
