Exelixis authorizes additional $750 million stock repurchase program

Exelixis Inc. (NASDAQ: EXEL) announced its board of directors authorized a new stock repurchase program to acquire up to $750 million of common stock before December 31, 2026.

The October 2025 authorization represents the fifth such program since March 2023. The company has repurchased $895.3 million of common stock as of September 30, 2025, at an average price of $37.18 per share under two existing programs totaling $1 billion authorized in August 2024 and February 2025.

Since the first repurchase program approval in March 2023, Exelixis has returned $1.9 billion to shareholders and reduced weighted-average diluted common shares outstanding from 326.3 million to 278.5 million shares as of September 30, 2025.

The company completed repurchases under the August 2024 program in the second quarter of 2025 and plans to complete the February 2025 program in the fourth quarter of 2025.

Stock repurchases may be executed through various methods including open market purchases, block trades, Rule 10b5-1 trading plans, accelerated share repurchase transactions, and exchange transactions. The timing and amount of repurchases will depend on factors including capital needs, investment opportunities, stock price, and market conditions.

The programs do not obligate the company to acquire any specific amount of stock and may be modified, suspended, or discontinued without notice, according to the press release statement.

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