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Exelixis Announces Full Year and Fourth Quarter 2007 Financial Results
Date:2/14/2008

ic nephropathy and we are

actively pursuing ways to monetize this asset.

-- Extended our research collaboration agreement with Bristol-Myers

Squibb Company to develop and commercialize novel therapies targeted

against the Liver X Receptor. We also received a milestone payment of

$5.0 million from Bristol-Myers Squibb as a result of the acceptance

of an IND, or foreign equivalent.

-- Submitted XL139 to Bristol-Myers Squibb Company in December 2007 under

our oncology collaboration agreement. In January 2008, Bristol-Myers

Squibb exercised its option to develop and commercialize XL139,

thereby triggering a $20.0 million selection milestone payment, and we

exercised our option to co-develop and co-commercialize the compound

in the United States and receive royalties on product sales outside of

the United States.

-- Received $18.0 million from the sale of a major portion of our plant

trait assets to Agrigenetics, Inc., a wholly-owned subsidiary of The

Dow Chemical Company.

-- Sold an 80.1% stake in Artemis to Taconic Farms, for $19.8 million.

Corporate Development

-- Completed a public offering of common stock, raising net proceeds of

$71.9 million.

-- Appointed Richard E. Buller, M.D., Ph.D. to the newly created position

of Vice President, Translational Medicine, Arthur DeCillis, M.D. to

the position of Vice President, Clinical Research, and Anne Champsaur,

M.D. to the position of Vice President, Drug Safety.

-- Appointed Jose Baselga, M.D., a leading expert in oncology drug

discovery, to our Scientific Advisory Board.

-- Appointed Carl B. Feldbaum, president emeritus of the Biotechnology

Industry Organization, to our Board of Directors.

"2007 was an exceptional year in the growth and development of Exelixis -- w
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SOURCE Exelixis, Inc.
Copyright©2008 PR Newswire.
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Related biology technology :

1. Exelixis Announces February 14 Webcast of Its Fourth Quarter and Full Year 2007 Financial Results Conference Call
2. Exelixis Announces February 12 Webcast of Presentation at the 10th Annual BIO CEO and Investor Conference
3. Exelixis Announces January 31 Webcast of Presentation at the 2008 Wachovia Healthcare Conference
4. Exelixis Announces Senior Management Promotions
5. Exelixis Announces January 10 Webcast of Presentation at the 26th Annual JPMorgan Healthcare Conference
6. Exelixis Submits XL139 Diligence Report to Bristol-Myers Squibb
7. Reminder: Exelixis Announces December 5 Webcast of Its Third Annual R&D Day
8. Exelixis Announces November 28 Webcast of Presentation at the Lazard Capital Markets Fourth Annual Healthcare Conference
9. Exelixis Announces November 27 Webcast of Presentation at the 19th Annual Piper Jaffray Health Care Conference
10. Exelixis Announces December 5 Webcast of Its Third Annual R&D Day
11. Exelixis Sells 80% Stake in Artemis to Taconic
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