Exelixis Prices 25M Share Offering @$5.40/Share

Exelixis, Inc.

today announced the pricing of its underwritten public offering of 25,000,000 shares of newly issued common stock at a price to the public of $5.40 per share. The gross proceeds to Exelixis from this offering are expected to be approximately $135 million, before deducting the underwriting discount and other estimated offering expenses payable by Exelixis. Exelixis also granted the underwriters a 30-day option to purchase up to an additional 3,750,000 shares of its common stock. All of the shares are being sold by Exelixis. Exelixis currently expects to use the net proceeds from the offerings for general corporate purposes, including for clinical trials, build-out of commercial infrastructure, research and development, capital