Exelixis Board Authorizes Repurchase Of Common Stock - Quick Facts

(RTTNews) - Exelixis, Inc. (EXEL) announced that the company's Board of Directors has authorized the repurchase of up to $550 million of the company's common stock before the end of 2023. The company noted that the timing and amount of any share repurchases under the share repurchase program will be based on a variety of factors, including ongoing assessments of the capital needs of the business, alternative investment opportunities, the market price of Exelixis' common stock and general market conditions.

Exelixis noted that the program does not obligate the company to acquire any particular amount of its common stock.