Exelixis Announces Proposed Public Offering of 10M Shares

Exelixis, Inc.

today announced that it plans to offer, subject to market and other conditions, 10,000,000 shares of its common stock in an underwritten public offering. The company expects to grant the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of common stock in connection with the offering. All of the shares in the offering will be sold by Exelixis. The shares will be issued pursuant to a prospectus supplement filed as part of a shelf registration statement previously filed with the Securities and Exchange Commission (SEC) on Form S-3.