Monday, August 6, 2012

Exelixis shares fall on stock, debt offering news

Exelixis Inc. plans to offer 20 million shares and $225 million in debt, the South San Francisco biotech company said Monday. The company (NASDAQ: EXEL), which could win approval in late November for its cancer drug cabozantinib, saw its stock fall 13 percent after the news. On the day, Exelixis stock lost 73 cents, closing at $4.85 per share.

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