Exelixis, Inc. (EXEL) Thursday announced that its Board of Directors has authorized an additional $500 million stock repurchase program, set to run through December 31.
The company expects to complete its existing $500 million buyback program, announced in August 2024, by the second quarter of 2025 before initiating repurchases under the new authorization.
This marks Exelixis' fourth repurchase initiative since March 2023, bringing total shareholder returns to over $1.2 billion by the end of 2024.
EXEL closed Thursday's trading at $35.09 up 0.06 percent or $0.02 on the Nasdaq.
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