Canadian Halal Investor.

NASDAQ Shariah screener · October 2026

Is Exelixis, Inc. (EXEL) Halal?

PASS

Exelixis, Inc. · NASDAQ: EXEL · Healthcare

The short answer

Exelixis passes all three Shariah gates: it runs a permissible oncology-medicines business, carries zero interest-bearing debt (0.0% of its ~$14.33 billion market cap), and interest income of about 2.98% of revenue is under the 5% ceiling. Musaffa also rates EXEL halal.

Gate 1 — Business activity: PASS

Gate 1 — business activity: PASS. Exelixis, Inc., based in Alameda, California, is an oncology company innovating next-generation cancer medicines. Per its FY2025 Form 10-K (fiscal year ended January 2, 2026), it has four marketed pharmaceutical products, two of which are formulations of its flagship molecule cabozantinib — CABOMETYX® tablets for advanced renal cell carcinoma and COMETRIQ® — plus COTELLIC® for advanced melanoma. Its lead clinical asset, zanzalintinib, was under FDA review for certain forms of colorectal cancer, with an extensive late-stage program across other indications and a pipeline spanning small molecules and antibody-drug conjugates (ADCs). Sales related to cabozantinib account for the majority of revenues.

The company discovers, develops and sells prescription cancer treatments — a permissible business activity. It is not an interest-based lender and is not involved in tobacco, gambling or pork production. No haram core business line is disclosed; the business passes gate 1.

Gate 2 — Debt and cash: PASS

Gate 2 — interest-bearing debt: PASS (0.0%, ceiling 33%). Per Exelixis's Q2 2026 condensed consolidated balance sheet (June 30, 2026), the company reports no interest-bearing debt at all — total liabilities of $650,472 thousand consist entirely of operating items (accounts payable, accrued compensation and clinical trial liabilities, rebates and fees due to customers, collaboration liabilities, and operating lease liabilities), with no borrowings or notes payable.

$0 of interest-bearing debt against a market capitalization of about $14.33 billion (Finnhub, October 2, 2026) is 0.0%, well under the 33% ceiling. Cash and cash equivalents of $281,448 thousand plus marketable securities of $557,937 thousand current and $544,930 thousand non-current at June 30, 2026 total about $1,384.3 million, roughly 9.7% of market cap.

Gate 3 — Non-compliant income: PASS

Gate 3 — non-compliant income: PASS (2.98%, ceiling 5%). Exelixis's FY2025 Form 10-K separately discloses interest income on its consolidated statements of income: $69,213 thousand for the year ended January 2, 2026. Against FY2025 total revenues of $2,320,126 thousand, that is about 2.98%, under the 5% ceiling.

Key figures used

Frequently asked questions

What does Exelixis do?

Exelixis, Inc. (NASDAQ: EXEL) is an oncology company developing next-generation cancer medicines. Per its FY2025 Form 10-K, it has four marketed pharmaceutical products, two of which are formulations of its flagship molecule cabozantinib: CABOMETYX tablets for advanced renal cell carcinoma and COMETRIQ, plus COTELLIC for advanced melanoma. Its lead clinical asset, zanzalintinib, was under FDA review for certain forms of colorectal cancer at the time of the 10-K, alongside a late-stage pipeline of small molecules and antibody-drug conjugates (ADCs). Sales related to cabozantinib account for the majority of its revenues.

Is Exelixis's business Shariah compliant?

Exelixis discovers, develops and sells oncology medicines - cancer drugs, not interest-based lending - and it is not involved in tobacco, gambling or pork production. Developing and selling prescription cancer treatments is a permissible business activity. No haram core business line is disclosed in its 10-K, so the business passes this screener's first gate.

How much interest-bearing debt does Exelixis have?

Exelixis carries no interest-bearing debt. Per its Q2 2026 condensed consolidated balance sheet (June 30, 2026), total liabilities of $650,472 thousand consist of operating items - accounts payable, accrued compensation, clinical trial and collaboration liabilities, customer rebates and fees, and operating lease liabilities - with no borrowings or notes payable reported. $0 of interest-bearing debt against a market capitalization of about $14.33 billion is 0.0%, well under the 33% ceiling.

How much interest income does Exelixis earn?

Exelixis's FY2025 Form 10-K separately discloses interest income on its consolidated statements of income: $69,213 thousand for the year ended January 2, 2026. Against FY2025 total revenues of $2,320,126 thousand, that is about 2.98% - under the 5% non-compliant income ceiling.

What do third-party Shariah screeners say about Exelixis?

Musaffa publishes an Exelixis (EXEL) page and currently classifies the stock as halal under its AAOIFI methodology (as of October 2026). Zoya also publishes an EXEL page and flags the stock as Shariah-compliant, showing interest income of $69,213,000 against revenue of $2,320,126,000 (2.98%) - the same figures used here. I could not verify a ShariaPortfolio rating page for EXEL from public sources. Third-party screeners apply different assumptions and update on different schedules, and their results can change when new financial statements are published - always check the latest screening before investing.

Sources

Screened 2026-10-02 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).