"Our deal with Deerfield provides a high level of flexibility and uniquely addresses the challenges that pre-commercial biotech companies face in a challenging capital markets environment," said Frank Karbe, chief financial officer of Exelixis. "Most notably, it provides guaranteed access to capital and a high degree of control as to when and to what degree we draw and repay funds, thereby substantially increasing our ability to manage our cost of capital and minimize dilution."
Conference Call and Webcast
Exelixis management will discuss the Deerfield arrangement during a conference call beginning at 5:00 a.m. PT/8:00 a.m. ET Thursday, June 5. To listen to a webcast of the discussion, visit the Event Calendar page under Investors at http://www.exelixis.com. An archive of the webcast will be available until 7:00 a.m. PT/10:00 a.m. ET on July 5, 2008. Access numbers for this replay are 1-888-286-8010 (domestic) and 1-617-801-6888 (international); the replay passcode number is 33494166.
Exelixis, Inc. is a development-stage biotechnology company dedicated
to the discovery and development of novel small molecule therapeutics for
the treatment of cancer and other serious diseases. The company is
leveraging its fully integrated drug discovery platform to fuel the growth
of its development pipeline, which is primarily focused on cancer.
Currently, Exelixis' broad product pipeline includes investigational
compounds in phase 2 and phase 1 clinical development. Exelixis has
established strategic corporate alliances with major pharmaceutical and
biotechnology companies, including GlaxoSmit
|SOURCE Exelixis, Inc.|
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