Exelixis Announces a Newly Authorized $500 Million Stock Repurchase Program
Exelixis (NASDAQ: EXEL) has announced a new $500 million stock repurchase program authorized by its Board of Directors, to be completed by December 31, 2025. The company plans to initiate this program after completing its current $500 million repurchase program, which is expected to conclude in Q2 2025.
This marks Exelixis' fourth stock repurchase program since March 2023, with the company having already returned over $1.2 billion to shareholders through these initiatives as of the end of fiscal year 2024. The repurchases may be executed through various methods, including open market purchases, block trades, and accelerated share repurchase transactions. The timing and volume of repurchases will be determined by factors including capital needs, alternative investments, stock price, and market conditions.
Exelixis (NASDAQ: EXEL) ha annunciato un nuovo programma di riacquisto di azioni del valore di 500 milioni di dollari autorizzato dal suo Consiglio di Amministrazione, che dovrà essere completato entro il 31 dicembre 2025. L'azienda prevede di avviare questo programma dopo aver concluso il suo attuale programma di riacquisto da 500 milioni di dollari, che si prevede si concluda nel secondo trimestre del 2025.
Questo segna il quarto programma di riacquisto di azioni di Exelixis da marzo 2023, con l'azienda che ha già restituito oltre 1,2 miliardi di dollari agli azionisti tramite queste iniziative fino alla fine dell'anno fiscale 2024. I riacquisti possono essere effettuati attraverso vari metodi, inclusi acquisti sul mercato aperto, transazioni in blocco e operazioni accelerate di riacquisto di azioni. Il momento e il volume dei riacquisti saranno determinati da fattori tra cui le esigenze di capitale, investimenti alternativi, prezzo delle azioni e condizioni di mercato.
Exelixis (NASDAQ: EXEL) ha anunciado un nuevo programa de recompra de acciones de 500 millones de dólares autorizado por su Junta Directiva, que se completará antes del 31 de diciembre de 2025. La compañía planea iniciar este programa después de completar su actual programa de recompra de 500 millones de dólares, que se espera que concluya en el segundo trimestre de 2025.
Esto marca el cuarto programa de recompra de acciones de Exelixis desde marzo de 2023, con la compañía que ya ha devuelto más de 1.2 mil millones de dólares a los accionistas a través de estas iniciativas hasta el final del año fiscal 2024. Las recompras pueden llevarse a cabo a través de varios métodos, incluidos compras en el mercado abierto, operaciones en bloque y transacciones aceleradas de recompra de acciones. El momento y el volumen de las recompras se determinarán por factores como las necesidades de capital, inversiones alternativas, el precio de las acciones y las condiciones del mercado.
Exelixis (NASDAQ: EXEL)는 이사회에서 승인한 5억 달러 규모의 자사주 매입 프로그램을 발표했으며, 이는 2025년 12월 31일까지 완료될 예정입니다. 회사는 현재 진행 중인 5억 달러 자사주 매입 프로그램을 마친 후 이 프로그램을 시작할 계획이며, 이는 2025년 2분기에 종료될 것으로 예상됩니다.
이는 2023년 3월 이후 Exelixis의 네 번째 자사주 매입 프로그램으로, 회사는 2024 회계 연도 말까지 이러한 이니셔티브를 통해 12억 달러 이상을 주주에게 반환했습니다. 자사주 매입은 공개 시장 구매, 블록 거래 및 가속화된 주식 매입 거래 등 다양한 방법으로 수행될 수 있습니다. 자사주 매입의 시기와 규모는 자본 필요, 대체 투자, 주가 및 시장 조건 등 여러 요인에 따라 결정됩니다.
Exelixis (NASDAQ: EXEL) a annoncé un nouveau programme de rachat d'actions de 500 millions de dollars approuvé par son conseil d'administration, qui doit être achevé d'ici le 31 décembre 2025. La société prévoit de lancer ce programme après avoir terminé son programme de rachat actuel de 500 millions de dollars, qui devrait se terminer au deuxième trimestre de 2025.
Ceci marque le quatrième programme de rachat d'actions d'Exelixis depuis mars 2023, la société ayant déjà restitué plus de 1,2 milliard de dollars aux actionnaires grâce à ces initiatives jusqu'à la fin de l'exercice fiscal 2024. Les rachats peuvent être effectués par divers moyens, y compris des achats sur le marché ouvert, des transactions en bloc et des opérations de rachat d'actions accélérées. Le calendrier et le volume des rachats seront déterminés par des facteurs tels que les besoins en capital, les investissements alternatifs, le prix des actions et les conditions du marché.
Exelixis (NASDAQ: EXEL) hat ein neues Aktienrückkaufprogramm im Wert von 500 Millionen Dollar angekündigt, das von seinem Vorstand genehmigt wurde und bis zum 31. Dezember 2025 abgeschlossen sein soll. Das Unternehmen plant, dieses Programm nach Abschluss seines aktuellen Rückkaufprogramms über 500 Millionen Dollar zu starten, das voraussichtlich im zweiten Quartal 2025 endet.
Dies ist das vierte Aktienrückkaufprogramm von Exelixis seit März 2023, wobei das Unternehmen bereits über 1,2 Milliarden Dollar an Aktionäre durch diese Initiativen bis zum Ende des Geschäftsjahres 2024 zurückgegeben hat. Die Rückkäufe können durch verschiedene Methoden durchgeführt werden, einschließlich Käufe am offenen Markt, Blockgeschäfte und beschleunigte Aktienrückkauftransaktionen. Der Zeitpunkt und das Volumen der Rückkäufe werden durch Faktoren wie Kapitalbedarf, alternative Investitionen, Aktienkurse und Marktbedingungen bestimmt.
- Authorization of new $500 million stock repurchase program
- Strong track record of shareholder returns with $1.2 billion already returned
- Consistent share repurchase strategy with fourth program since March 2023
- Flexible implementation approach allowing for market-optimized execution
- None.
Insights
The announcement of Exelixis' fourth $500 million stock repurchase program since March 2023 reveals a compelling narrative about the company's financial strength and capital allocation strategy. With over $1.2 billion already returned to shareholders, this systematic approach to capital returns demonstrates exceptional cash flow generation capability - particularly noteworthy in the biotechnology sector where companies typically prioritize R&D reinvestment over shareholder returns.
The program's structure offers significant strategic flexibility through multiple implementation methods, including open market purchases, block trades, and accelerated share repurchase transactions. This flexibility, combined with the extended timeline through December 2025, enables management to optimize execution based on market conditions and capitalize on potential share price volatility.
The consistent implementation of buyback programs suggests robust free cash flow generation from Exelixis' commercial portfolio, primarily driven by CABOMETYX. The company's ability to maintain this level of shareholder returns while presumably maintaining investment in its pipeline indicates strong operational execution and financial management. The accelerated pace of completing the previous program (expected in Q2 2025) suggests strong conviction in the company's valuation and financial outlook.
From a financial metrics perspective, these buybacks should provide meaningful support to earnings per share through share count reduction, while the flexible implementation structure helps protect against overpaying. The program represents approximately 5% of the current market capitalization, a meaningful size that could help offset potential dilution from employee stock compensation while providing price support.
Most notably, this continued commitment to shareholder returns differentiates Exelixis from many biotech peers who typically retain cash for R&D or M&A. This signals management's confidence in both their current cash position and future cash flow generation capacity, while maintaining flexibility to pursue strategic opportunities through the program's measured implementation approach.
- Completion of currently ongoing stock repurchase program expected in the second quarter of 2025 -
Exelixis plans on completing the currently ongoing
Stock repurchases under the newly authorized program may be made from time to time through a variety of methods, which may include open market purchases, in block trades, accelerated share repurchase transactions, exchange transactions, or any combination of such methods. The timing and amount of any share repurchases under the stock repurchase program will be based on a variety of factors, including ongoing assessments of the capital needs of the business, alternative investment opportunities, the market price of Exelixis’ common stock and general market conditions.
About Exelixis
Exelixis is a globally ambitious oncology company innovating next-generation medicines and regimens at the forefront of cancer care. Powered by drug discovery and development excellence, we are rapidly evolving our product portfolio to target an expanding range of tumor types and indications with our clinically differentiated pipeline of small molecules, antibody-drug conjugates and other biotherapeutics. This comprehensive approach harnesses decades of robust investment in our science and partnerships to advance our investigational programs and extend the impact of our flagship commercial product, CABOMETYX® (cabozantinib). Exelixis is driven by a bold scientific pursuit to create transformational treatments that give more patients hope for the future. For information about the company and its mission to help cancer patients recover stronger and live longer, visit www.exelixis.com, follow @ExelixisInc on X (Twitter), like Exelixis, Inc. on Facebook and follow Exelixis on LinkedIn.
Forward-Looking Statements
This press release contains forward-looking statements, including, without limitation, statements related to Exelixis’ intended share repurchases and repurchase timeframe; and Exelixis’ scientific pursuit to create transformational treatments that give more patients hope for the future. Any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements and are based upon Exelixis’ current plans, assumptions, beliefs, expectations, estimates and projections. Forward-looking statements involve risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in the forward-looking statements as a result of these risks and uncertainties, which include, without limitation: Exelixis’ ability to effect repurchases under the current and newly authorized share repurchase programs due to changes in stock price, corporate or other economic or market conditions; the nature of other investment opportunities Exelixis may have from time to time; and other factors affecting Exelixis discussed under the caption “Risk Factors” in Exelixis’ Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) on February 11, 2025, and in Exelixis’ future filings with the SEC. All forward-looking statements in this press release are based on information available to Exelixis as of the date of this press release, and Exelixis undertakes no obligation to update or revise any forward-looking statements contained herein, except as required by law.
Exelixis, the Exelixis logo and CABOMETYX are registered
View source version on businesswire.com: https://www.businesswire.com/news/home/20250220736723/en/
Chris Senner
Chief Financial Officer
Exelixis, Inc.
650-837-7240
csenner@exelixis.com
Susan Hubbard
EVP, Public Affairs & Investor Relations
Exelixis, Inc.
650-837-8194
shubbard@exelixis.com
Source: Exelixis, Inc.
FAQ
What is the size and timeline of Exelixis' new stock repurchase program (EXEL)?
How much has Exelixis (EXEL) returned to shareholders through stock repurchases since March 2023?
When will Exelixis (EXEL) complete its current stock repurchase program?
How many stock repurchase programs has Exelixis (EXEL) implemented since March 2023?
What methods will Exelixis (EXEL) use for its stock repurchase program?
