EXEL

Exelixis faces a three-month FDA review delay for zanzalintinib, pushing the potential CRC decision to March 2027.

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Exelixis NASDAQ: EXEL President and CEO Michael Morrissey said the company is focused on expanding its oncology franchises through internal development, selective business development and potential collaborations, while preparing for a planned launch of zanzalintinib in metastatic colorectal cancer.

Exelixis, Inc. (EXEL) Presents at Morgan Stanley 24th Annual Global Healthcare Conference Transcript

Exelixis NASDAQ: EXEL executives outlined plans to continue expanding the CABOMETYX franchise while preparing for a potential launch of zanzalintinib, or zanza, in colorectal cancer later this year.

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Exelixis NASDAQ: EXEL executives outlined a franchise-focused growth strategy centered on expanding CABOMETYX across renal cell carcinoma and neuroendocrine tumors while advancing zanzalintinib through multiple late-stage studies.

The FDA extended its review of Exelixis' zanzalintinib by three months, but no new clinical failure or safety signal was disclosed. At a 10% discount rate, three months reduces an asset's present value by only 2.35%, far less than Exelixis initially lost. CABOMETYX continues growing, and 2026 guidance includes no zanzalintinib launch revenue.

The ‌U.S. Food and Drug Administration has extended the review of ​Exelixis' experimental colorectal ​cancer drug combination by three ⁠months, the company said ​in a filing on ​Friday.