Exelixis is trading 4.06% down at $53.70 as the broader biotech sector faces selling pressure.
- The move appears to track the SPDR S&P Biotech ETF (XBI), which is down 3.15% during the session.
- Shares are pulling back after recently trading near 52-week high levels.
- No company-specific news was released, suggesting the decline is driven by a wider risk-off tone in the sector.