NEW YORK, Aug. 01, 2025 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Exelixis, Inc. (“Exelixis” or the “Company”) (NASDAQ: EXEL). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Exelixis and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On July 28, 2025, Exelixis issued a press release “report[ing] financial results for the second quarter of 2025” and “provid[ing] an update on progress toward achieving key corporate objectives, and outlined its commercial, clinical and pipeline development milestones.” Among other items, Exelixis reported that net product revenues for cabozantinib were approximately 2% below the consensus estimate of $531.3 million. Exelixis also disclosed that “[b]ased on our evaluation of emerging data from the phase 2 portion of the STELLAR-305 study in advanced squamous cell carcinoma of the head and neck, emerging competition in this indication and assessment of other potentially larger commercial opportunities, we have made the decision not to proceed to the phase 3 portion of the trial.”
On this news, Exelixis’s stock price fell $7.45 per share, or 16.78%, to close at $36.94 per share on July 29, 2025.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
