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Updated Phase 1 Data for Exelixis' XL184 Demonstrate Pharmacodynamic and Clinical Anti-Tumor Activity
Date:10/23/2007

al disease. Exelixis has established strategic corporate alliances with major pharmaceutical and biotechnology companies, including GlaxoSmithKline, Bristol-Myers Squibb Company, Genentech, Wyeth Pharmaceuticals and Daiichi-Sankyo. For more information, please visit the company's web site at http://www.exelixis.com.

Forward-Looking Statements

This press release contains forward-looking statements, including without limitation statements related to the future development and potential efficacy of XL184 and the expected timing of the initiation of the phase 2 program of XL184. Words such as "believes," "will" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon Exelixis' current expectations. Forward-looking statements involve risks and uncertainties. Exelixis' actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, the lengthy, costly and uncertain process of clinical testing of XL184 and Exelixis' other compounds, the potential failure of XL184 and Exelixis' other compounds to demonstrate safety and efficacy in clinical testing and risks related to Exelixis' dependence on and relationship with GlaxoSmithKline. These and other risk factors are discussed under "Risk Factors" and elsewhere in Exelixis' Quarterly Report on Form 10-Q for the quarter ended June 30, 2007 and its other filings with the Securities and Exchange Commission. Exelixis expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward- looking statements contained herein to reflect any change in Exelixis' expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.


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