Tuesday, April 12, 2011

Report: Exelixis hires Goldman Sachs to prepare for takeover offers

Rumors of Exelixis Inc. hiring Goldman Sachs to prepare for possible sale offers sent shares of the South San Francisco cancer drug company higher, according to Bloomberg.
A spokesman for Exelixis (NASDAQ: EXEL) told Bloomberg that the company does not comment on such reports, noting that sale rumors have “been around the company for a long time.”
Exelixis, which had been known for its prodigious pipeline of drugs, has garnered lots of attention over the past five months because of a single drug. The company has opted to focus on XL-184, or cabozantinib, which appears to stop cancerous growth not only in soft tissue but also on bone.

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