Thursday, February 9, 2012

Exelixis to sell 10M shares to pay for R&D, other expenses

Cancer drug developer Exelixis Inc. plans to sell 10 million shares of common stock
The South San Francisco-based company (NASDAQ: EXEL), which has centered its drug-development efforts around the cancer-fighting drug cabozantinib, said in a Securities and Exchange Commission filing Thursday that it will use net proceeds from the offering for research and development, capital expenditures, working capital and other purposes.

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