Exelixis Inc. is an oncology-focused biopharmaceutical company dedicated to discovering, developing, and commercializing new cancer therapies, including combination regimens. Operating through a single business segment, the company serves the healthcare and pharmaceutical markets and has built a portfolio of four marketed products. Its flagship molecule is cabozantinib, supported by a broad global intellectual property position, alongside patents related to cobimetinib.

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Exelixis conducts research to advance its existing products and to develop new and innovative products that cater to the diverse needs of its customers. Through collaborations with several external research institutions and collaborations, in-licensing arrangements, and similar business development relationships, focus on strengthening its technological development capabilities. The company's patent portfolio includes over 15 patents for cabozantinib, ensuring broad protection in the US and globally. In FY2025, the company spent US$825 million on its R&D activities, which as a percentage of revenue, stood at 35.5%.