Exelixis Eyes CABOMETYX Growth, Zanzalintinib Catalysts Across Cancer Franchises

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. Speaking at a company event, Andrew Peters, Exelixis’ senior vice president of strategy and investor relations, said the company views its business through “franchises” spanning products, disease indications and treatment modalities. In addition to its small-molecule therapies CABOMETYX and zanzalintinib, Exelixis is developing other approaches, including tissue factor antibody-drug conjugate XB371 and next-generation immuno-oncology bispecific XB628. “Over the last several years, we have really transformed the company, with the success of CABO, to really invest in all of those areas,” Peters said. He added that Exelixis is working toward building additional franchises beyond CABOMETYX.

CABOMETYX Share Gains and NET Opportunity Chris Senner, Exelixis’ chief financial officer, said CABOMETYX has continued to gain share among VEGF tyrosine kinase inhibitors in renal cell carcinoma, or RCC. The drug’s market share rose to 47% in the second quarter of 2026 from 45% in the prior-year period, according to Senner. Senner attributed growth to the company’s RCC base business as well as its neuroendocrine tumor, or NET, business. Peters said continued data generation and commercial execution are central to expanding adoption. Exelixis increased its NET sales force earlier in 2026, both to broaden coverage in that market and to prepare for a potential zanzalintinib launch, given the overlap between NET and colorectal cancer physicians. In second-line NETs, Senner said CABOMETYX held about a 45% share of new patients during the second quarter. He noted, however, that the overall revenue contribution will build over time because NETs are generally slow-growing tumors and patients may remain on treatment for extended periods. “What we haven’t seen yet is the stacking of those patients,” Senner said, adding that the company expects that process to develop through 2026, 2027 and 2028. He estimated the NET market’s total addressable market at approximately $1 billion at current pricing and described the indication as a significant contributor to Exelixis’ growth outlook through 2030. Peters cautioned that it remains early to make definitive assessments of real-world treatment duration in NETs because CABOMETYX had been approved in the indication for only a little more than a year.

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