---
schema_version: "secwatch.filing_event.v1"
accession: "0000939767-25-000111"
form_type: "8-K"
ticker: "EXEL"
cik: "0000939767"
company_name: "EXELIXIS, INC."
filed_at: "2025-07-28T23:59:59+00:00"
generated_at: "2026-05-18T00:44:57.733479+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Exelixis Q2 2025: total rev $568M, GAAP EPS $0.65; CABOMETYX NET launch, positive STELLAR-303

## Summary
- Total revenues $568.3M; product revenues $520.0M (+19% YoY); collaboration rev $48.2M (down $151M due to prior-year Ipsen milestone).
- GAAP net income $184.8M ($0.65 diluted EPS); non-GAAP net income $212.6M ($0.75 diluted EPS).
- CABOMETYX launch in advanced NET capturing leading share, representing ~4% of Q2 CABOMETYX business.
- Positive topline results from zanzalintinib STELLAR-303 study in colorectal cancer; plan to file for approval.
- Early pipeline advancing: phase 1 trials for XL309, XB010, XB628; XB371 entering clinic.

## SEC filing metadata
- accession: 0000939767-25-000111
- form_type: 8-K
- ticker: EXEL
- cik: 0000939767
- company_name: EXELIXIS, INC.
- filed_at: 2025-07-28T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/939767/000093976725000111/0000939767-25-000111-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/939767/000093976725000111/exel-20250728.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000939767-25-000111
- JSON: https://secwatch.observer/filing/0000939767-25-000111.json
- Plain text: https://secwatch.observer/filing/0000939767-25-000111.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.