SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Jun. 27, 2018--
Exelixis, Inc. (Nasdaq: EXEL) today announced that it will be added to
Standard & Poor’s (S&P) MidCap 400 index, effective prior to the open of
trading on Monday, July 2. The company will be classified under S&P’s
Global Industry Classification Standard (GICS) Biotechnology
Sub-Industry index.
“S&P is a highly respected organization in the investment and financial
communities, so Exelixis’ addition to the S&P MidCap 400 is an important
milestone as we continue on our growth trajectory,” said Michael M.
Morrissey, Ph.D., President and Chief Executive Officer of Exelixis.
“Being recognized by S&P reflects our strong progress as an oncology
company, and our efforts to maximize shareholder value by growing
revenues and prudently reinvesting in our business. We remain deeply
committed to bringing forward the cancer treatments and regimens of the
future on our mission to help patients recover stronger and live longer.”
The S&P MidCap 400® provides investors with a benchmark
for mid-sized companies. The index, which is distinct from the large-cap
S&P 500®, measures the performance
of profitable mid-sized companies, reflecting the distinctive risk and
return characteristics of this market segment.
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 three
commercially available products, CABOMETYX® (cabozantinib),
COMETRIQ® (cabozantinib) and COTELLIC®
(cobimetinib), and have entered into partnerships with leading
pharmaceutical companies to bring these important medicines to patients
worldwide. Supported by revenues from our marketed products and
collaborations, we are committed to prudently reinvesting in our
business to maximize the potential of our pipeline. We are supplementing
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 earned a spot on Deloitte’s 2017 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.
About S&P Dow Jones Indices
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index-based concepts, data and research, and home to iconic financial
market indicators, such as the S&P 500® and the Dow Jones
Industrial Average®. More assets are invested in products
based on our indices than products based on indices from any other
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visit www.spdji.com.
Forward Looking Statement
This press release contains forward-looking statements, including,
without limitation, statements related to: the addition of Exelixis to
the S&P MidCap 400 index on July 2, 2018; Exelixis’ ability to continue
on its growth trajectory; Exelixis’ commitment to bringing forward the
cancer treatments and regimens of the future and its mission to help
patients recover stronger and live longer; and Exelixis’ plans to
reinvest in its business to maximize the potential of the company’s
pipeline. Words such as “will,” “continue,” “committed,” “mission,”
“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: a change to the
planned timing for Exelixis’ addition to S&P’s MidCap 400; market
acceptance of CABOMETYX, COMETRIQ, and COTELLIC and the availability of
coverage and reimbursement for these products; the risk that
unanticipated developments could adversely affect the commercialization
of CABOMETYX, COMETRIQ, and COTELLIC; risks and uncertainties related to
regulatory review and approval processes and Exelixis’ compliance with
applicable legal and regulatory requirements; risks related to the
potential failure of cabozantinib and cobimetinib 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’ dependence on its
relationships with its collaboration partners, including, the level of
their investment in the resources necessary to successfully
commercialize partnered products in the territories where they are
approved; 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; Exelixis’ ability to protect the company’s 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’
annual 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 and the Exelixis logo are registered U.S. trademarks.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180627005627/en/
Source: Exelixis, Inc.
Investors Contact:
Exelixis, Inc.
Susan
Hubbard, 650-837-8194
EVP, Public Affairs and Investor
Relations
shubbard@exelixis.com
or
Media
Contact:
For Exelixis, Inc.
Hal Mackins,
415-994-0040
hal@torchcommunications.com