Top 10 Holdings of Caligan Partners

5. Exelixis Inc (NASDAQ:EXEL)

Caligan Partners’ Equity Stake: $26.12 Million

Number of Hedge Fund Holders: 30

Exelixis Inc (NASDAQ:EXEL) is an oncology company specializing in discovering, developing, and commercializing new cancer medicines. Cabometyx is its most prized asset. It was the initial treatment for advanced renal cell carcinoma (RCC), or kidney cancer, to show enhancement in all three critical indicators of effectiveness: progression-free survival, overall survival, and objective response rate. Cabometyx is the top-rated treatment for RCC of its type and is also authorized for the treatment of hepatocellular carcinoma, a kind of liver cancer.

Exelixis Inc (NASDAQ:EXEL) has been the subject of activism over the past year over concerns over the level of research and development and lack of discipline in its research and development plan. The activism paid off, as the stock increased by 35% in 2023.

30 hedge funds out of 920 tracked by Insider Monkey held stakes in the company as of the end of Q1 2024, down from 33 in Q4 2023.