🔴 Exelixis is trading 4.76% down today after Q2 revenue miss and full-year guidance cut

Exelixis is trading at $54.00 (4.76% down) after its August 5, 2026 earnings update missed revenue estimates and prompted a cut to full-year guidance.

• The company reported $628.7 million in second-quarter revenue, falling below the $636.4 million analyst estimate.
• The pressure is largely tied to CABOMETYX U.S. net product revenue of $570.6 million versus the $585.0 million expected, reinforcing concerns about softer demand.
• The stock's decline reflects an earnings-driven reset following the downward revision of the company's full-year 2026 revenue outlook.