Exelixis announces leadership changes with new executive appointments

Exelixis, Inc. (NASDAQ:EXEL) reported Friday that its board of directors has appointed Dana T. Aftab, Ph.D., as Executive Vice President, Research and Development. Dr. Aftab previously served as Executive Vice President, Discovery and Translational Research and Chief Scientific Officer at the company. The leadership change comes as Exelixis, a $10.1 billion market cap company, maintains strong financial health with revenue growth of ~11% and an impressive gross profit margin of 97%.

The company also stated that effective Friday, Amy C. Peterson, M.D., concluded her service as Executive Vice President, Product Development and Medical Affairs and Chief Medical Officer. According to Exelixis, Dr. Peterson will receive payments in accordance with the company’s Change in Control and Severance Benefit Plan and applicable law. According to InvestingPro analysis, Exelixis maintains a strong financial position with liquid assets exceeding short-term obligations and operates with moderate debt levels.

Further details about Dr. Aftab’s background and business experience, as well as information regarding his contracts and compensatory arrangements, are incorporated by reference from the company’s proxy statement filed with the Securities and Exchange Commission on April 16, 2025.

This information is based on a press release statement included in a filing with the Securities and Exchange Commission.

In other recent news, Exelixis reported mixed second-quarter earnings, with Cabometyx sales reaching $520 million, falling short of Wall Street’s expectations of $530 million. RBC Capital noted that Exelixis missed revenue expectations for the quarter, which might lead to short-term challenges. Despite this, JMP Securities maintained its Market Outperform rating, citing strong year-over-year volume growth and projecting cabozantinib sales to hit $2.1 billion for fiscal year 2025.

In light of these earnings results, several analyst firms adjusted their price targets for Exelixis. H.C. Wainwright reduced its target to $46 following the halt of the STELLAR-305 trial. RBC Capital also lowered its target to $45, while Truist Securities decreased its target to $49, reflecting the mixed earnings results. Conversely, Stifel raised its price target to $41, indicating increased confidence in the success of zanza in metastatic colorectal cancer. These adjustments highlight the varied outlooks among analysts regarding Exelixis’s future performance.

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