Exelixis Raises $118 Million in Initial Public Offering

Exelixis Inc. (South San Francisco, CA) last week held an initial public offering of 9.1 million shares of common stock at a price of $13.00 per share. The original filing range for the offering was $10–12 per share. The shares are trading on the Nasdaq National Market under the symbol EXEL.

The offering was led by Goldman, Sachs & Co., with Credit Suisse First Boston and SG Cowen co-managing the offering. The underwriters were granted a 30-day over allotment option to purchase 1.4 million additional shares of common stock from the company.

Exelixis Inc. is focused on comparative genomics and model system genetics. These technologies provide a rapid, efficient, and cost-effective way to move from DNA sequence data to knowledge about the function of genes and the proteins that they encode. The company's technologies focus on the identification and validation of novel screening targets and proteins and their function for the pharmaceutical, diagnostic, agricultural, and animal health industries.

For more information: Exelixis Inc., 260 Littlefield Ave., South San Francisco, CA 94080. Tel: 650-825-2200. Fax: 650-825-2205.

Edited by Jim Pomager