On March 20, 2023 Exelixis, Inc. (Nasdaq: EXEL) reported 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 (Press release, Exelixis, MAR 20, 2023, View Source [SID1234629044]).

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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. Share repurchases under the program may be made from time to time through a variety of methods, which may include open market purchases, in block trades, accelerated share repurchase transactions, exchange transactions, or any combination of such methods. The program does not obligate Exelixis to acquire any particular amount of its common stock, and the share repurchase program may be modified, suspended or discontinued at any time without prior notice.