-- Former equity research analyst joins Exelixis following twelve
years covering the biotechnology sector --
SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--May 22, 2018--
Exelixis,
Inc. (NASDAQ: EXEL) today announced the appointment of Andrew R.
Peters as Vice President, Strategy. In this newly created role, Mr.
Peters will work with the Exelixis leadership team to further refine the
company’s mid- and long-term strategy focused on advancing the next
generation of Exelixis medicines.
Mr. Peters has thirteen years of experience in the biotechnology
industry, including twelve as an equity research analyst covering
small-, mid- and large-cap biotechnology companies. He joins Exelixis
from Deutsche Bank Securities where he served as a director and senior
analyst from May 2016 to May 2018.
“It’s a pivotal time for Exelixis as we seek to expand the company’s
pipeline beyond CABOMETYX, our lead marketed product, through targeted
business development and a return to internal drug discovery,” said
Michael M. Morrissey, Ph.D., President and Chief Executive Officer of
Exelixis. “Andrew’s extensive experience as a biotechnology industry
analyst makes him a valuable addition to the Exelixis team as we work to
identify potential future growth opportunities for the company. His
familiarity with Exelixis and the biotech landscape should make for a
seamless transition into his new role.”
Prior to joining Deutsche Bank Securities, from 2006 to 2016 Mr. Peters
served in equity research analyst roles at UBS Securities, Susquehanna
International Group, and Morgan Joseph & Co., Inc. He began his career
in the biotechnology industry in the business development group at
Amylin Pharmaceuticals. Mr. Peters holds a Master of BioScience degree
from the Keck Graduate Institute of Applied Life Sciences and obtained
his Bachelor of Arts in Science and Management (with a Biotechnology
Sequence) from Claremont McKenna College.
About Exelixis
Founded in 1994, Exelixis, Inc. (NASDAQ: EXEL) is a commercially
successful, oncology-focused biotechnology company that strives to
accelerate the discovery, development and commercialization of new
medicines for difficult-to-treat cancers. Following early work in model
genetic systems, we established a broad drug discovery and development
platform that has served as the foundation for our continued efforts to
bring new cancer therapies to patients in need. We discovered our lead
compounds, cabozantinib and cobimetinib, and advanced them into clinical
development before entering into partnerships with leading
biopharmaceutical companies in our efforts to bring these medicines to
patients globally. We are steadfast in our commitment to prudently
reinvest in our business to maximize the potential of our pipeline. We
intend to supplement our existing therapeutic assets with targeted
business development activities and internal drug discovery – all to
deliver the next generation of Exelixis medicines and help patients
recover stronger and live longer. Exelixis recently earned a spot on
Deloitte’s Technology Fast 500 list, a yearly award program honoring the
500 fastest-growing companies over the past four years. For more
information about Exelixis, please visit www.exelixis.com,
follow @ExelixisInc
on Twitter or like Exelixis,
Inc. on Facebook.
Exelixis Forward-Looking Statement Disclaimer
This press release contains forward-looking statements, including,
without limitation, statements related to: Exelixis’ intention to expand
the company’s pipeline beyond CABOMETYX, including through targeted
business development and a return to internal drug discovery; and
Exelixis’ mission to deliver the next generation of Exelixis medicines
and help patients recover stronger and live longer. Words such as
“will,” “focused,” “intend,” “should,” “commitment,” “potential,” or
other similar expressions identify forward-looking statements, but the
absence of these words does not necessarily mean that a statement is not
forward-looking. In addition, any statements that refer to expectations,
projections or other characterizations of future events or circumstances
are forward-looking statements. These forward-looking statements are
based upon Exelixis’ current plans, assumptions, beliefs, expectations,
estimates and projections. Forward-looking statements involve risks and
uncertainties. Actual results and the timing of events could differ
materially from those anticipated in the forward-looking statements as a
result of these risks and uncertainties, which include, without
limitation: competition in the areas of business development activities
and the inherent uncertainty of the drug discovery process; the level of
costs associated with Exelixis’ commercialization, research and
development, in-licensing or acquisition of product candidates, and
other activities; Exelixis’ dependence on third-party vendors for the
development, manufacture and supply of its products; the degree of
market acceptance of CABOMETYX, COMETRIQ, and COTELLIC and the
availability of sufficient coverage and adequate reimbursement for these
products; Exelixis’ dependence on its relationships with its
collaboration partners, including the level of their investment in the
resources necessary to successfully commercialize partnered compounds in
the territories where they are approved; risks and uncertainties related
to regulatory review and approval processes and Exelixis’ compliance
with applicable regulatory and legal requirements; risks related to the
potential failure of cabozantinib and cobimetinib, both alone and in
combination with other therapies, to demonstrate safety and efficacy in
clinical testing; Exelixis’ ability and the ability of its collaborators
to conduct clinical trials of cabozantinib and cobimetinib, both alone
and in combination with other therapies, sufficient to achieve a
positive completion; Exelixis’ ability to protect its intellectual
property rights; market competition, including the potential for
competitors to obtain approval for generic versions of Exelixis’
marketed products; changes in economic and business conditions, and
other factors discussed under the caption “Risk Factors” in Exelixis’
quarterly report on Form 10-Q filed with the Securities and Exchange
Commission (SEC) on May 2, 2018, and in Exelixis’ future filings with
the SEC. The forward-looking statements made in this press release speak
only as of the date of this press release. Exelixis expressly disclaims
any duty, 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.
Exelixis, the Exelixis logo and CABOMETYX are registered U.S.
trademarks.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180522006313/en/
Source: Exelixis, Inc.
Investors Contact:
Exelixis, Inc.
Susan
Hubbard, 650-837-8194
Executive Vice President, Public
Affairs & Investor Relations
shubbard@exelixis.com
or
Media
Contact:
For Exelixis, Inc.
Hal
Mackins, 415-994-0040
hal@torchcommunications.com