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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Name of Issuer)

(Title of Class of Securities)

(CUSIP Number)

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13D/A 0001175707 XXXXXXXX LIVE 7 Common Stock, par value $0.001 per share (the "Shares") 01/01/2026 false 0000939767 30161Q104 EXELIXIS, INC. 1851 Harbor Bay Parkway Alameda CA 94502 Hannah E. Dunn (415) 421-2132 Farallon Capital Management, L.L.C. One Maritime Plaza, Suite 2100 San Francisco CA 94111 0001175707 Farallon Capital Partners, L.P. b WC CA 0 1189334 0 1189334 1189334 N 0.4 PN 0000886687 Farallon Capital Institutional Partners, L.P. b WC CA 0 1397425 0 1397425 1397425 N 0.5 PN 0001245628 Farallon Capital Institutional Partners II, L.P. b WC CA 0 398340 0 398340 398340 N 0.1 PN 0001245629 Farallon Capital Institutional Partners III, L.P. b WC DE 0 201793 0 201793 201793 N 0.1 PN 0001690212 Four Crossings Institutional Partners V, L.P. b WC DE 0 263099 0 263099 263099 N 0.1 PN 0001340990 Farallon Capital Offshore Investors II, L.P. b WC E9 0 2487976 0 2487976 2487976 N 0.9 PN 0001501082 Farallon Capital (AM) Investors, L.P. b WC DE 0 142174 0 142174 142174 N 0.1 PN 0001643763 Farallon Capital F5 Master I, L.P. b WC E9 0 476750 0 476750 476750 N 0.2 PN 0001871852 Farallon Healthcare Partners Master, L.P. b WC E9 0 9152609 0 9152609 9152609 N 3.4 PN 0001040153 Farallon Partners, L.L.C. b AF DE 0 15232750 0 15232750 15232750 N 5.7 OO Y Farallon Institutional (GP) V, L.L.C. b AF DE 0 263099 0 263099 263099 N 0.1 OO Y Farallon F5 (GP), L.L.C. b AF DE 0 476750 0 476750 476750 N 0.2 OO Y Farallon Healthcare Partners (GP), L.L.C. b AF DE 0 9152609 0 9152609 9152609 N 3.4 OO Y Dapice Joshua J. b AF X1 0 15709500 0 15709500 15709500 N 5.9 IN Y Dreyfuss, Philip D. b AF X1 0 15709500 0 15709500 15709500 N 5.9 IN Y Dunn Hannah E. b AF X1 0 15709500 0 15709500 15709500 N 5.9 IN Y Fried, Richard B b AF X1 0 0 0 0 0 N 0 IN Y Gehani, Varun N. b AF X1 0 15709500 0 15709500 15709500 N 5.9 IN Y Giauque, Nicolas b AF I0 0 15709500 0 15709500 15709500 N 5.9 IN Y Husen, Avner A. b AF X1 0 15709500 0 15709500 15709500 N 5.9 IN Y Kim, David T. b AF X1 0 15709500 0 15709500 15709500 N 5.9 IN Y Linn, Michael G. b AF X1 0 15709500 0 15709500 15709500 N 5.9 IN Y Luo Patrick (Cheng) b AF F4 0 15709500 0 15709500 15709500 N 5.9 IN Y Patel, Rajiv A. b AF X1 0 0 0 0 0 N 0 IN Y Roberts, Jr., Thomas G. b AF X1 0 15709500 0 15709500 15709500 N 5.9 IN Y Saito Edric C. b AF X1 0 15709500 0 15709500 15709500 N 5.9 IN Y Seybold, William b AF X1 0 0 0 0 0 N 0 IN Y Short Daniel S. b AF X1 0 15709500 0 15709500 15709500 N 5.9 IN Y Spokes, Andrew J. M. b AF X0 0 15709500 0 15709500 15709500 N 5.9 IN Y Warren, John R. b AF X1 0 15709500 0 15709500 15709500 N 5.9 IN Y Wehrly, Mark C. b AF X1 0 15709500 0 15709500 15709500 N 5.9 IN Common Stock, par value $0.001 per share (the "Shares") EXELIXIS, INC. 1851 Harbor Bay Parkway Alameda CA 94502 This Amendment No. 7 to Schedule 13D (this "Amendment") hereby amends and supplements Item 2(a) by deleting the text under the caption "The Farallon Individual Reporting Persons" and replacing it in its entirety, to read as follows: "(xiv) The following persons, each of whom is a managing member or senior managing member, as the case may be, of the Farallon General Partner, and a manager or senior manager, as the case may be, of the FCIP V General Partner, the F5MI General Partner and the FHPM General Partner, with respect to the Shares held by the Farallon Funds: Joshua J. Dapice ("Dapice"); Philip D. Dreyfuss ("Dreyfuss"); Hannah E. Dunn ("Dunn"); Varun N. Gehani ("Gehani"); Nicolas Giauque ("Giauque"); Avner A. Husen ("Husen"); David T. Kim ("Kim"); Michael G. Linn ("Linn"); Patrick (Cheng) Luo ("Luo"); Thomas G. Roberts, Jr. ("Roberts"); Edric C. Saito ("Saito"); Daniel S. Short ("Short"); Andrew J. M. Spokes ("Spokes"); John R. Warren ("Warren"); and Mark C. Wehrly ("Wehrly"). Dapice, Dreyfuss, Dunn, Gehani, Giauque, Husen, Kim, Linn, Luo, Roberts, Saito, Short, Spokes, Warren and Wehrly are together referred to herein as the "Farallon Individual Reporting Persons." This Amendment reports that effective January 1, 2026, Husen became a member of the Farallon General Partner, a manager of the FCIP V General Partner, a manager of the F5MI General Partner and a manager of the FHPM General Partner. Accordingly, as of that date, Husen may be deemed a beneficial owner of the Shares held by the Farallon Funds. This Amendment also reports that effective December 31, 2025, each of Richard B. Fried ("Fried"), Rajiv A. Patel ("Patel") and William Seybold ("Seybold") ceased to be a member of the Farallon General Partner, a manager of the FCIP V General Partner, a manager of the F5MI General Partner and a manager of the FHPM General Partner. Accordingly, as of that date, each of Fried, Patel and Seybold may no longer be deemed a beneficial owner of the Shares held by the Farallon Funds. The other information required by Item 2 relating to the identity and background of the Reporting Persons is set forth in Exhibit 1.02 hereto." This Amendment hereby amends and restates Item 2(b) in its entirety, to read as follows: "The address of the principal business office of (i) each of the Farallon Funds is c/o Farallon Capital Management, L.L.C., One Maritime Plaza, Suite 2100, San Francisco, California 94111, and (ii) each of the FCIP V General Partner, the F5MI General Partner, the FHPM General Partner and the Farallon Individual Reporting Persons is set forth in Exhibit 1.02 hereto." This Amendment hereby amends and restates Item 2(c) in its entirety, to read as follows: "The principal business of each of the Farallon Funds is that of a private investment entity engaging in the purchase and sale of investments for its own account. The principal business of the Farallon General Partner is to act as the general partner of investment partnerships, including FCP, FCIP, FCIP II, FCIP III, FCOI II and FCAMI, and as the sole member of general partners of investment partnerships, including the FCIP V General Partner and the FHPM General Partner. The principal business of the FCIP V General Partner is to act as the general partner of FCIP V. The principal business of the F5MI General Partner is to act as the general partner of F5MI. The principal business of the FHPM General Partner is to act as the general partner of FHPM. The principal business of each of the Farallon Individual Reporting Persons is set forth in Exhibit 1.02 hereto." This Amendment hereby amends and supplements Item 5(a) by deleting the text under the caption "The Farallon Funds" and replacing it in its entirety, to read as follows as follows: "The information set forth in Rows 7 through 13 of the cover page hereto for each Farallon Fund is incorporated herein by reference for each such Farallon Fund. The percentage amount set forth in Row 13 for all cover pages filed herewith is calculated based upon the 268,112,157 Shares outstanding as of October 27, 2025, as reported by the Company in its Form 10-Q filed with the Securities and Exchange Commission on November 4, 2025." This Amendment hereby amends and supplements Item 5(c) by deleting the text under the caption "The Farallon Funds" and replacing it in its entirety, to read as follows: "The dates, number of Shares involved and the price per Share (excluding commissions) for all transactions in the Shares by the Farallon Funds in the past sixty days are set forth in Exhibit 1.B attached hereto and such information is incorporated herein by reference. All of such transactions were open-market transactions." This Amendment hereby amends and supplements Item 7 by adding the following thereto: "There is filed herewith as Exhibit 1.02 certain information required by Item 2 relating to the identity and background of the Reporting Persons. There is filed herewith as Exhibit 1.B the sixty-day trading history of the Farallon Funds referenced in Item 5(c). There is filed herewith as Exhibit 6 a Power of Attorney for Avner A. Husen. There is filed herewith as Exhibit 7 a written agreement relating to the filing of joint acquisition statements as required by Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended." Farallon Capital Partners, L.P. /s/ Hannah E. Dunn Hannah E. Dunn, Managing Member of its General Partner 01/05/2026 Farallon Capital Institutional Partners, L.P. /s/ Hannah E. Dunn Hannah E. Dunn, Managing Member of its General Partner 01/05/2026 Farallon Capital Institutional Partners II, L.P. /s/ Hannah E. Dunn Hannah E. Dunn, Managing Member of its General Partner 01/05/2026 Farallon Capital Institutional Partners III, L.P. /s/ Hannah E. Dunn Hannah E. Dunn, Managing Member of its General Partner 01/05/2026 Four Crossings Institutional Partners V, L.P. /s/ Hannah E. Dunn Hannah E. Dunn, Manager of its General Partner 01/05/2026 Farallon Capital Offshore Investors II, L.P. /s/ Hannah E. Dunn Hannah E. Dunn, Managing Member of its General Partner 01/05/2026 Farallon Capital (AM) Investors, L.P. /s/ Hannah E. Dunn Hannah E. Dunn, Managing Member of its General Partner 01/05/2026 Farallon Capital F5 Master I, L.P. /s/ Hannah E. Dunn Hannah E. Dunn, Manager of its General Partner 01/05/2026 Farallon Healthcare Partners Master, L.P. /s/ Hannah E. Dunn Hannah E. Dunn, Manager of its General Partner 01/05/2026 Farallon Partners, L.L.C. /s/ Hannah E. Dunn Hannah E. Dunn, Managing Member 01/05/2026 Farallon Institutional (GP) V, L.L.C. /s/ Hannah E. Dunn Hannah E. Dunn, Manager 01/05/2026 Farallon F5 (GP), L.L.C. /s/ Hannah E. Dunn Hannah E. Dunn, Manager 01/05/2026 Farallon Healthcare Partners (GP), L.L.C. /s/ Hannah E. Dunn Hannah E. Dunn, Manager 01/05/2026 Dapice Joshua J. /s/ Hannah E. Dunn Hannah E. Dunn, as attorney-in-fact 01/05/2026 Dreyfuss, Philip D. /s/ Hannah E. Dunn Hannah E. Dunn, as attorney-in-fact 01/05/2026 Dunn Hannah E. /s/ Hannah E. Dunn Hannah E. Dunn 01/05/2026 Fried, Richard B /s/ Hannah E. Dunn Hannah E. Dunn, as attorney-in-fact 01/05/2026 Gehani, Varun N. /s/ Hannah E. Dunn Hannah E. Dunn, as attorney-in-fact 01/05/2026 Giauque, Nicolas /s/ Hannah E. Dunn Giauque, Nicolas 01/05/2026 Husen, Avner A. /s/ Hannah E. Dunn Hannah E. Dunn, as attorney-in-fact 01/05/2026 Kim, David T. /s/ Hannah E. Dunn Hannah E. Dunn, as attorney-in-fact 01/05/2026 Linn, Michael G. /s/ Hannah E. Dunn Hannah E. Dunn, as attorney-in-fact 01/05/2026 Luo Patrick (Cheng) /s/ Hannah E. Dunn Hannah E. Dunn, as attorney-in-fact 01/05/2026 Patel, Rajiv A. /s/ Hannah E. Dunn Hannah E. Dunn, as attorney-in-fact 01/05/2026 Roberts, Jr., Thomas G. /s/ Hannah E. Dunn Hannah E. Dunn, as attorney-in-fact 01/05/2026 Saito Edric C. /s/ Hannah E. Dunn Hannah E. Dunn, as attorney-in-fact 01/05/2026 Seybold, William /s/ Hannah E. Dunn Hannah E. Dunn, as attorney-in-fact 01/05/2026 Short Daniel S. /s/ Hannah E. Dunn Hannah E. Dunn, as attorney-in-fact 01/05/2026 Spokes, Andrew J. M. /s/ Hannah E. Dunn Hannah E. Dunn, as attorney-in-fact 01/05/2026 Warren, John R. /s/ Hannah E. Dunn Hannah E. Dunn, as attorney-in-fact 01/05/2026 Wehrly, Mark C. /s/ Hannah E. Dunn Hannah E. Dunn, as attorney-in-fact 01/05/2026