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Exelixis
Exelixis is a publicly traded multi-platform oncology company founded in 1994, led by CEO Michael Morrissey, known for cancer drugs CABOMETYX and COMETRIQ.
Exelixis
Exelixis was founded in 1994 and is publicly traded under the ticker EXEL. Michael Morrissey has served as President and CEO since 2015, inheriting a company that had already built a pipeline anchored by cabozantinib (branded CABOMETYX and COMETRIQ), the small-molecule drug that generates the bulk of its revenue. The firm deploys capital across internal R&D programs and externally through strategic collaborations, targeting small molecules, bispecific antibodies, antibody-drug conjugates and other next-generation modalities. Key approved products include CABOMETYX for advanced renal cell carcinoma, hepatocellular carcinoma, and differentiated thyroid cancer. Exelixis has partnered with Roche, Ipsen, and Takeda on cabozantinib outside the US. The geographic footprint centers on the US but extends to Europe and Japan, and the firm has built an internal commercial infrastructure beyond the original cabozantinib franchise (per Exelixis website, 2025). Exelixis employs about 1,000 people, mostly at its Alameda, California headquarters. It maintains a publicly announced pipeline with multiple clinical trials underway across solid tumors. The firm does not operate a separate philanthropic foundation on its website but has a community impact program. In December 2026, the FDA will decide on the PDUFA date for a new drug application — one of the more concrete near-term catalysts for the stock (per Exelixis website, 2025). The structural differentiator of Exelixis is that it is a publicly traded biotech with a full-spectrum internal capability — from discovery through manufacturing and commercial — rather than a venture-backed platform. That allows it to keep the majority of commercial profits from its approved drugs, giving it a long revenue runway that supports a broad pipeline of internally developed candidates.
General information
Firm type
Asset Manager
Year founded
1994
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Alameda
Corporate office
Alameda, CA, United States
Principals
Michael M. Morrissey
President and CEO
Jeffrey J. Hessekiel
EVP, General Counsel and Secretary
P.J. Haley
EVP, Commercial
Susan M. Hubbard
EVP, Human Resources
Alan R. Shuldiner
EVP, R&D
Art Krieg
EVP, Biotherapeutics and Scientific Innovation
Tiffany L. Dass
EVP, Strategy and Corporate Affairs
Christopher J. Senner
EVP, CFO
Sector focus
Frequently asked questions
Who runs investment decisions at Exelixis?
Exelixis is a publicly traded biotech company, not a family office or asset manager. Strategic and capital allocation decisions are made by the CEO Michael Morrissey and the board of directors, all named on the corporate website. The firm allocates its internally generated cash flow to R&D pipelines, commercial infrastructure, and strategic partnerships rather than external fund-of-funds or direct deals outside oncology.
How does Exelixis generate its capital?
Exelixis generates revenue from the commercial sales of its approved drugs, CABOMETYX (cabozantinib) and COMETRIQ (cabozantinib). These drugs treat advanced renal cell carcinoma, hepatocellular carcinoma, and differentiated thyroid cancer. Licensing deals with Roche, Ipsen, and Takeda provide additional revenue outside the US. The company does not raise external fund capital.
What investment stages does Exelixis target?
Exelixis does not invest in external startups or funds. Its own R&D pipeline spans from preclinical discovery (small molecule and biotherapeutics) through Phase III clinical trials and commercial launch. It does not operate an external venture capital arm or co-invest alongside other LPs.
Is Exelixis structured as a family office or does it operate more like a biotech firm?
Exelixis is a publicly traded biotech company, with approximately 1,000 employees and a market cap in the billions. It is not a family office, and it does not manage capital for external investors. All financial decisions serve the public shareholders.
Which sectors does Exelixis explicitly avoid?
Exelixis focuses exclusively on oncology. It does not invest in other therapeutic areas such as cardiovascular, neurology, rare disease, or medical devices. The firm's pipeline is limited to small molecule inhibitors, antibody-drug conjugates, and bispecific antibodies all targeting cancer.
Does Exelixis maintain philanthropic structures, and how are they separated?
Exelixis has a community impact program described on its website under 'Our Impact,' covering employee volunteering and cause support, but it does not appear to have a separate philanthropic foundation. Charitable activities are part of the corporate entity and funded from operating cash.
Where is Exelixis headquartered?
Exelixis is headquartered at 1851 Harbor Bay Parkway, Alameda, CA 94502, in the San Francisco Bay Area. It also has a South San Francisco presence mentioned in earlier records. No other offices are disclosed.
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