Exelixis Inc. on Tuesday reported a first quarter loss of $27.5 million, or 24 cents a share, narrowed from a loss in the same period last year of $43.2 million, or 40 cents a share.
South San Francisco-based Exelixis (NASDAQ:EXEL) had revenue of $35.9 million, down from $42.2 million for the comparable period in 2010.
The narrowed loss was primarily because of decreases in operating expenses.
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