New Issue: Exelixis raises $50.375 million in follow-on at $7.75, discounted from $8.20 close

By Ronda Fears

Nashville, Aug. 17 - Exelixis, Inc. sold 6.5 million shares of common stock off the shelf at $7.75 per share, discounted from Tuesday's closing level of $8.20, for gross proceeds of $50.375 million.

Goldman Sachs & Co. was bookrunner for the offering.

On Monday, the company said it plans to begin phase II trials by year-end for its three most advanced compounds - XL999, XL647, which are two anticancer drugs, and XL784, a diabetes treatment.

Issuer:	Exelixis, Inc.
Issue:	Follow-on stock offering
Gross proceeds:	$50.375 million
Shares:	6.5 million shares
Price:	$7.75 per share
Bookrunner:	Goldman Sachs & Co.
Pricing date:	Aug. 16
Settlement date:	Aug. 19
Ticker:	EXEL
Stock price:	$8.20 at close Aug. 16

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