Biotech SF
San Francisco Bay Area biotech stories.
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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