View Filing Data

Print Document View Excel Document

Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Dec. 31, 2011	Feb. 15, 2012	Jun. 30, 2011
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2011
Document Fiscal Year Focus	2011
Document Fiscal Period Focus	FY
Trading Symbol	exel
Entity Registrant Name	EXELIXIS INC
Entity Central Index Key	0000939767
Entity Filer Category	Large Accelerated Filer
Current Fiscal Year End Date	--12-30
Entity Common Stock, Shares Outstanding		148,420,470
Entity Well-known Seasoned Issuer	Yes
Entity Public Float			$ 1,153,817,690
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010
ASSETS
Cash and cash equivalents	$ 74,257	$ 97,440
Marketable securities	120,005	65,224
Other receivables	30,190	5,896
Prepaid expenses and other current assets	4,372	14,926
Total current assets	228,824	183,486
Restricted cash and investments	4,199	6,399
Long-term investments	85,260	87,314
Property and equipment, net	8,506	15,811
Goodwill	63,684	63,684
Other assets	2,789	4,096
Total assets	393,262	360,790
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Accounts payable	1,957	2,046
Accrued clinical trial liabilities	21,729	30,975
Other accrued liabilities	8,423	15,026
Accrued compensation and benefits	8,943	6,555
Current portion of notes payable and bank obligations	4,870	8,848
Current portion of convertible loans		28,900
Current portion of restructuring	4,483	7,294
Deferred revenue	41,920	100,297
Total current liabilities	92,325	199,941
Long-term portion of notes payable and bank obligations	85,260	87,314
Long-term portion of convertible loans	91,385	83,396
Long-term portion of restructuring	9,495	6,987
Other long-term liabilities	7,844	9,005
Deferred revenue	16,321	202,472
Total liabilities	302,630	589,115
Commitments (Note 13)
Stockholders' equity (deficit):
Preferred stock, $0.001 par value, 10,000,000 shares authorized and no shares issued
Common stock, $0.001 par value; 200,000,000 shares authorized; issued and outstanding: 135,563,735 and 109,287,160 shares at December 31, 2011 and 2010, respectively	135	109
Additional paid-in-capital	1,196,992	953,608
Accumulated other comprehensive income	(138)	12
Accumulated deficit	(1,106,357)	(1,182,054)
Total stockholders' equity (deficit)	90,632	(228,325)
Total liabilities and stockholders' equity (deficit)	$ 393,262	$ 360,790

Consolidated Balance Sheet (Parenthetical) - $ / shares	Dec. 31, 2011	Dec. 31, 2010
Consolidated Balance Sheets [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	135,563,735	109,287,160
Common stock, shares outstanding	135,563,735	109,287,160

Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Revenues:
Contract	$ 41,309	$ 61,271	$ 54,141
License	245,549	96,363	97,618
Collaboration reimbursement	2,778	27,411	(4,582)
Total revenues	289,636	185,045	151,759
Operating expenses:
Research and development	156,836	210,678	234,702
General and administrative	33,129	33,020	34,382
Collaboration cost sharing			4,582
Restructuring charge	10,136	32,744
Total operating expenses	200,101	276,442	273,666
Income (loss) from operations	89,535	(91,397)	(121,907)
Other income (expense):
Interest income and other, net	1,462	138	1,510
Interest expense	(16,259)	(9,340)	(12,672)
Gain on sale of businesses	2,254	8,197	2,052
Loss on deconsolidation of Symphony Evolution, Inc.			(9,826)
Total other income (expense), net	(12,543)	(1,005)	(18,936)
Total	76,992	(92,402)	(140,843)
Income tax (provision) benefit	(1,295)	72	1,286
Consolidated net income (loss)	75,697	(92,330)	(139,557)
Loss attributed to noncontrolling interest			4,337
Net income (loss) attributable to Exelixis, Inc.	$ 75,697	$ (92,330)	$ (135,220)
Net income (loss) per share, basic, attributable to Exelixis, Inc.	$ 0.60	$ (0.85)	$ (1.26)
Net income (loss) per share, diluted, attributable to Exelixis, Inc.	$ 0.58	$ (0.85)	$ (1.26)
Shares used in computing basic income (loss) per share amounts	126,018	108,522	107,073
Shares used in computing diluted income (loss) per share amounts	130,479	108,522	107,073

Statement Of Other Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Statement Of Other Comprehensive Income (Loss) [Abstract]
Consolidated net income (loss)	$ 75,697	$ (92,330)	$ (139,557)
(Decrease)/increase in net unrealized gains on available-for-sale securities	(150)	(143)	155
Comprehensive income (loss)	75,547	(92,473)	(139,402)
Comprehensive loss attributable to noncontrolling interest			4,337
Comprehensive income (loss) attributable to Exelixis, Inc.	$ 75,547	$ (92,473)	$ (135,065)

- Definition

The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 8, 9, 10, 11, 12, 13, 14
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 30
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph A5
-Appendix A

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e557-108580

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Net Income
-URI http://asc.fasb.org/extlink&oid=6518256

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Other Comprehensive Income
-URI http://asc.fasb.org/extlink&oid=6519514

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e540-108580

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Comprehensive Income
-URI http://asc.fasb.org/extlink&oid=6508144

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph c(3)
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

- Definition

The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to noncontrolling interests, if any. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent.

+ References + Details

- Definition

The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the economic entity, including both controlling (parent) and noncontrolling interests. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, including any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent.

+ References + Details

- Definition

Appreciation or loss in value (before reclassification adjustment) of the total of unsold securities during the period being reported on, net of tax. Reclassification adjustments include: (1) the unrealized holding gain (loss), net of tax, at the date of the transfer for a debt security from the held-to-maturity category transferred into the available-for-sale category. Also includes the unrealized gain (loss) at the date of transfer for a debt security from the available-for-sale category transferred into the held-to-maturity category; (2) the unrealized gains (losses) realized upon the sale of securities, after tax; and (3) the unrealized gains (losses) realized upon the write-down of securities, after tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 115
-Paragraph 13
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 24
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 17, 22
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e637-108580

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e653-108580

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 55
-Paragraph 2
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=6920433&loc=d3e998-108581

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph c(3)
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Consolidated Statements Of Stockholders' Equity (Deficit) - USD ($)	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Other Comprehensive Income [Member]	Accumulated Deficit [Member]	Non-Controlling Interest [Member]	Total
Balance, shares at Dec. 31, 2008	106,331,183
Balance at Dec. 31, 2008	$ 106,000	$ 897,423,000		$ (954,504,000)	$ 714,000	$ (56,261,000)
Consolidated net income (loss)				(135,220,000)	(4,337,000)	(139,557,000)
Change in unrealized gains on available-for-sale securities			$ 155,000			155,000
Comprehensive income (loss)						(139,402,000)
Issuance of common stock under stock plans, shares	1,587,151
Issuance of common stock under stock plans	$ 2,000	5,407,000				5,409,000
Deconsolidation of Symphony Evolution Inc.					$ 3,623,000	3,623,000
Stock-based compensation expense		22,906,000				22,906,000
Balance at Dec. 31, 2009	$ 108,000	925,736,000	155,000	(1,089,724,000)		(163,725,000)
Balance, shares at Dec. 31, 2009	107,918,334
Consolidated net income (loss)				(92,330,000)		(92,330,000)
Change in unrealized gains on available-for-sale securities			(143,000)			(143,000)
Comprehensive income (loss)						(92,473,000)
Issuance of common stock under stock plans, shares	1,368,826
Issuance of common stock under stock plans	$ 1,000	6,760,000				6,761,000
Stock-based compensation expense		21,112,000				21,112,000
Balance at Dec. 31, 2010	$ 109,000	953,608,000	12,000	(1,182,054,000)		$ (228,325,000)
Balance, shares at Dec. 31, 2010	109,287,160					109,287,160
Consolidated net income (loss)				75,697,000		$ 75,697,000
Change in unrealized gains on available-for-sale securities			(150,000)			(150,000)
Comprehensive income (loss)						75,547,000
Issuance of common stock under stock plans, shares	3,488,669
Issuance of common stock under stock plans	$ 2,700	15,038,000				15,041,000
Sale of shares of common stock	$ 17,000	179,358,000				179,375,000
Sale of shares of common stock, shares	17,250,000
Issuance of common stock for settlement of convertible loan	$ 6,000	36,889,000				36,895,000
Issuance of common stock for settlement of convertible loan, shares	5,537,906
Stock-based compensation expense		12,099,000				12,099,000
Balance at Dec. 31, 2011	$ 135,000	$ 1,196,992,000	$ (138,000)	$ (1,106,357,000)		$ 90,632,000
Balance, shares at Dec. 31, 2011	135,563,735					135,563,735

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Cash flows from operating activities:
Consolidated net income (loss)	$ 75,697	$ (92,330)	$ (139,557)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization	6,822	10,543	12,595
Stock-based compensation expense	12,099	21,112	22,906
Impairment of property and equipment, net of proceeds from sales	497	3,327
Accretion of debt discount	7,989	3,596
Gain on sale of businesses	(2,254)	(8,197)	(2,052)
Loss on deconsolidation of Symphony Evolution, Inc.			9,826
Other	4,801	3,234	1,619
Changes in assets and liabilities:
Other receivables	(24,294)	5,968	(8,505)
Prepaid expenses and other current assets	10,553	(66)	(7,338)
Other assets	405	(1,807)	6,424
Accounts payable and other accrued expenses	(5,555)	(9,444)	9,008
Restructuring liability	(303)	14,281
Other long-term liabilities	(1,162)	(8,320)	(5,294)
Deferred revenue	(244,528)	(42,945)	85,777
Net cash used in operating activities	(159,233)	(101,048)	(14,591)
Cash flows from investing activities:
Purchases of investments held by Symphony Evolution, Inc.			(49)
Proceeds on sale of investments held by Symphony Evolution, Inc.			4,497
Purchases of property and equipment	(991)	(1,811)	(5,908)
Proceeds on sale of property and equipment	1,526	165
Proceeds on sale of businesses	3,010	9,000	2,200
Decrease (increase) in restricted cash and investments	2,200	45	(2,429)
Proceeds from sale of marketable securities	55,205	12,780	766
Proceeds from maturities of marketable securities	124,800	127,569	49,767
Purchases of marketable securities	(237,213)	(167,317)	(161,166)
Net cash used in by investing activities	(51,463)	(19,569)	(112,322)
Cash flows from financing activities:
Proceeds from issuance of stock, net of offering costs	179,375
Proceeds from exercise of stock options and warrants	12,436	2,684	273
Proceeds from employee stock purchase plan	1,734	3,132	3,826
Proceeds from notes payable and bank obligations	2,589	165,008	5,002
Principal payments on notes payable and bank obligations	(8,621)	(39,563)	(43,065)
Repayments, net from deconsolidation of Symphony Evolution, Inc.			(25)
Net cash provided by (used in) financing activities	187,513	131,261	(33,989)
Net (decrease) increase in cash and cash equivalents	(23,183)	10,644	(160,902)
Cash and cash equivalents, at beginning of year	97,440	86,796	247,698
Cash and cash equivalents, at end of year	74,257	97,440	86,796
Supplemental cash flow disclosure:
Cash paid for interest	6,835	$ 11,059	$ 10,532
Non-cash financing activity:
Issuance of common stock for settlement of convertible loan, including accrued interest	$ 36,895

Organization And Summary Of Significant Accounting Policies

12 Months Ended

Dec. 31, 2011

Organization And Summary Of Significant Accounting Policies [Abstract]

Organization And Summary Of Significant Accounting Policies

NOTE 1. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Organization

Exelixis, Inc. ("Exelixis," "we," "our" or "us") is a biotechnology company committed to developing small molecule therapies for the treatment of cancer. We are focusing our proprietary resources and development efforts exclusively on cabozantinib (XL184), our most advanced product candidate, in order to maximize the therapeutic and commercial potential of this compound. We believe cabozantinib has the potential to be a high-quality, broadly active, differentiated pharmaceutical product that can make a meaningful difference in the lives of patients. We have also established a portfolio of other novel compounds that we believe have the potential to address serious unmet medical needs, many of which are being advanced by partners as part of collaborations.

Basis of Consolidation

The consolidated financial statements include the accounts of Exelixis and our wholly owned subsidiaries as well as one former variable interest entity, Symphony Evolution, Inc. ("SEI"), for which we were the primary beneficiary. As of June 9, 2009, our purchase option for SEI expired and as a result, we were no longer considered to be the primary beneficiary. (Refer to Note 10). All significant intercompany balances and transactions have been eliminated.

Exelixis adopted a 52- or 53-week fiscal year that ends on the Friday closest to December 31. Fiscal year 2009, a 52-week year, ended on January 1, 2010, fiscal year 2010, a 52-week year, ended on December 31, 2010, and fiscal year 2011, a 52-week year, ended on December 30, 2011. Fiscal year 2012, a 52-week year, will end on December 28, 2012. For convenience, references in this report as of and for the fiscal years ended, January 1, 2010, December 31, 2010 and December 30, 2011 are indicated on a calendar year basis, ended December 31, 2009, 2010 and 2011, respectively.

Segment Information:

We operate in one business segment and we have operations solely in the United States, while some of our collaboration partners have headquarters outside of the United States. In fiscal years 2011, 2010 and 2009, 100% of our revenues were earned in the United States and all of our long-lived assets were located in the United States.

Use of Estimates

The preparation of the consolidated financial statements is in conformity with accounting principles generally accepted in the United States which requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses, and related disclosures. On an ongoing basis, management evaluates its estimates including, but not limited to, those related to revenue recognition, long-lived assets, derivative instruments, accrued liabilities, and share-based compensation. We base our estimates on historical experience and on various other market-specific and other relevant assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ materially from those estimates.

Cash and Investments

We consider all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. We invest in high-grade, short-term commercial paper and money market funds, which are subject to minimal credit and market risk.

All marketable securities are classified as available-for-sale and are carried at fair value. We view our available-for-sale portfolio as available for use in current operations. Accordingly, we have classified certain investments as short-term marketable securities, even though the stated maturity date may be one year or more beyond the current balance sheet date. Available-for-sale securities are stated at fair value based upon quoted market prices of the securities. We have classified certain investments as cash and cash equivalents or marketable securities that collateralize loan balances; however they are not restricted to withdrawal. Funds that are used to collateralize equipment lines of credit that extend for over 12 months have been classified as long term investments, in association with the loan arrangement. Unrealized gains and losses on available-for-sale investments are reported as a separate component of stockholders' equity (deficit). Realized gains and losses, net, on available-for-sale securities are recorded in our Consolidated Statement of Operations as Interest income and other, net. The cost of securities sold is based on the specific identification method. Interest and dividends on securities classified as available-for-sale are recorded in our Consolidated Statement of Operations as Interest income and other, net.

All of our marketable securities are subject to quarterly reviews for impairment that is deemed to be other-than-temporary. An investment is considered other-than-temporarily impaired when its fair value is below its amortized cost and (1) we intend to sell the security; (2) it is "more likely than not" that we will be required to sell the security before recovery of its amortized cost basis or (3) the present value of expected cash flows from the investment is not expected to recover the entire amortized cost basis.

The following summarizes available-for-sale securities included in cash and cash equivalents and restricted cash and investments as of December 31, 2011 (in thousands):


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Money market funds	$	81,986	$	—	$	—		$	81,986
Commercial paper		29,079		2		(1	)		29,080
Corporate bonds		116,068		22		(169	)		115,921
U.S. Government sponsored enterprises		37,237		12		—			37,249
Municipal bonds		19,488		—		(3	)		19,485

Total	$	283,858	$	36	$	(173	)	$	283,721


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
As reported:
Cash equivalents	$	74,256	$	1	$	—		$	74,257
Marketable securities		120,143		35		(173	)		120,005
Restricted cash and investments		4,199		—		—			4,199
Long-term investments		85,260		—		—			85,260

Total	$	283,858	$	36	$	(173	)	$	283,721

The following summarizes available-for-sale securities included in cash and cash equivalents and restricted cash and investments as of December 31, 2010 (in thousands):


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Money market funds	$	171,048	$	—	$	—		$	171,048
Commercial paper		19,283		—		—			19,283
Corporate bonds		36,869		18		(10	)		36,877
U.S. Government sponsored enterprises		18,811		5		—			18,816
Municipal bonds		10,913		—		(1	)		10,912

Total	$	256,924	$	23	$	(11	)	$	256,936


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
As reported:
Cash equivalents	$	98,001	$	—	$	(2	)	$	97,999
Marketable securities		65,210		23		(9	)		65,224
Restricted cash and investments		6,399		—		—			6,399
Long-term investments		87,314		—		—			87,314

Total	$	256,924	$	23	$	(11	)	$	256,936

As of December 31, 2011, all securities that were in an unrealized loss position have been so for less than one year and the unrealized losses were not attributed to credit risk. Based on the scheduled maturities of our marketable securities, we concluded that the unrealized losses in our investment securities are not other-than-temporary, as it is more likely than not that we will hold these investments for a period of time sufficient for a recovery of our cost basis.

Foreign Currency Forward Contract

We have entered into foreign currency forward contracts to reduce our net exposure to Eurodollar currency fluctuations. On March 30, 2011, we entered into a new foreign contract for a notional amount of $7.0 million that expired in December 2011. In December 2011, we received the $7.0 million from the French taxing authority relating to our 2009 Sanofi Collaboration Agreement and as a result, we settled all outstanding contracts for a net loss of $0.3 million and cash receipt of $6.7 million. The net unrealized loss on our foreign currency forward contracts, none of which were designated as a hedge, were recorded in our Consolidated Statement of Operations as Interest income and other, net.

Fair Value Measurements

The fair value of our financial instruments reflects the amounts that would be received upon sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The fair value hierarchy has the following three levels:

Level 1 – quoted prices in active markets for identical assets and liabilities.

Level 2 – observable inputs other than quoted prices in active markets for identical assets and liabilities.

Level 3 – unobservable inputs.

Our financial instruments are valued using quoted prices in active markets or based upon other observable inputs. The following table sets forth the fair value of our financial assets that were measured on a recurring basis as of December 31, 2011 and 2010, respectively (in thousands):

As of December 31, 2011:


	Level 1		Level 2		Level 3		Total
Money market funds	$	81,986	$	—	$	—	$	81,986
Commercial paper		—		29,080		—		29,080
Corporate bonds		—		115,921		—		115,921
U.S. Government sponsored enterprises		—		37,249		—		37,249
Municipal bonds and variable rate demand notes		—		19,485		—		19,485

Total	$	81,986	$	201,735	$	—	$	283,721

As of December 31, 2010:


	Level 1		Level 2			Level 3		Total
Money market funds	$	171,048	$	—		$	—	$	171,048
Commercial paper		—		19,283			—		19,283
Corporate bonds		—		36,877			—		36,877
U.S. Government sponsored enterprises		—		18,816			—		18,816
Municipal bonds		—		10,912			—		10,912
Foreign currency forward contract		—		(156	)		—		(156	)

Total	$	171,048	$	85,732		$	—	$	256,780

We have estimated the fair value of our long-term debt instruments, where possible, using the net present value of the payments discounted at an interest rate that is consistent with our current borrowing rate for similar long-term debt. However, due to the unique structure of our 2010 financing agreement with entities affiliated with Deerfield Management Company L.P. ("Deerfield") and the current non-liquid market in structured notes, there is no practicable method to determine the fair value of this instrument. See Note 7 for details on the structure and terms of our 2010 financing with Deerfield. The estimated fair value of our outstanding debt, excluding our 2010 financing with Deerfield, was as follows (in thousands):


	December 31, 2011		December 31, 2010
GlaxoSmithKline loan	$	—	$	26,693
Equipment lines of credit		10,066		16,064
Silicon Valley Bank loan		77,835		77,480

Total	$	87,901	$	120,237

At December 31, 2011 and 2010, the book value of our debt outstanding, including our 2010 financing with Deerfield, was $181.5 million and $208.5 million, respectively. These items are described in further detail in Note 7 of the Notes to the Consolidated Financial Statements. Our payment commitments associated with these debt instruments are fixed during the corresponding terms and are comprised of interest payments, principal payments or a combination thereof. The fair value of our debt will fluctuate with movements of interest rates, increasing in periods of declining rates of interest, and declining in periods of increasing rates of interest.

In accordance with the terms of our loan and security agreement with GlaxoSmithKline, we elected to repay the third and final installment of the loan in shares of our common stock. The shares issued in connection with this repayment were valued at $6.66 per share, resulting in the issuance of 5,537,906 shares of our common stock to GlaxoSmithKline on October 27, 2011, as satisfaction in full of our $36.9 million repayment obligation, including $8.0 million in accrued interest, under the loan and security agreement.

Property and Equipment

Property and equipment are recorded at cost and depreciated using the straight-line method over the following estimated useful lives:


Equipment and furniture			5 years
Computer equipment and software			3 years
Leasehold improvements			Shorter of lease life or 7 years

Repairs and maintenance costs are charged to expense as incurred.

Goodwill

Goodwill amounts have been recorded as the excess purchase price over tangible assets, liabilities and intangible assets acquired based on their estimated fair value, by applying the purchase method. We evaluate goodwill for impairment on an annual basis and on an interim basis if events or changes in circumstances between annual impairment tests indicate that the asset might be impaired. When evaluating goodwill for impairment we must determine the reporting units that exist within Exelixis. We determined that our reporting units are consistent with our operating segments. We have allocated goodwill to our reporting units based on the relative fair value of the reporting units. We also evaluate other intangibles for impairment when impairment indicators are identified.

Long-Lived Assets

The carrying value of our long-lived assets is reviewed for impairment whenever events or changes in circumstances indicate that the asset may not be recoverable. An impairment loss would be recognized when estimated future cash flows expected to result from the use of the asset and its eventual disposition is less than its carrying amount. Long-lived assets include property and equipment and identified intangible assets. In 2011 and 2010, we wrote down property and equipment in the amount of approximately $0.5 million and $3.2 million, respectively, in connection with our 2010 and 2011 restructuring plans. These amounts exclude the impact of auction proceeds of $1.7 million subsequently received relating to the sale of these impaired assets. See Note 4 for further information on the restructuring plans.

Concentration of Credit Risk

Financial instruments that potentially subject us to concentrations of credit risk are primarily cash and cash equivalents, accounts receivable and investments in marketable securities. Cash equivalents and marketable securities consist of money market funds, taxable commercial paper, corporate bonds with high credit quality, U.S. government agency obligations and U.S. government sponsored enterprises. All cash and cash equivalents, and marketable securities are maintained with financial institutions that management believes are creditworthy. Other receivables are typically unsecured and are concentrated in the pharmaceutical and biotechnology industries. Accordingly, we may be exposed to credit risk generally associated with pharmaceutical and biotechnology companies. We have incurred no bad debt expense since inception.

The following table sets forth revenues recognized under our collaboration agreements that are 10% or more of total revenues during the years ending December 31, 2011, 2010 and 2009:


Collaborator	2011			2010			2009
Bristol-Myers Squibb		59	%		50	%		54	%
Sanofi		39	%		42	%		31	%

Revenue Recognition

License, research commitment and other non-refundable payments received in connection with research collaboration agreements are deferred and recognized on a straight-line basis over the period of continuing involvement, generally the research term specified in the agreement. Contract research revenues are recognized as services are performed pursuant to the terms of the agreements. Any amounts received in advance of performance are recorded as deferred revenue. Payments are not refundable if research is not successful. License fees are classified as license revenues in our consolidated statement of operations.

We enter into corporate collaborations under which we may obtain up-front license fees, research funding, and contingent milestone payments and royalties. Our deliverables under these arrangements typically consist of intellectual property rights and research and development services. We evaluate whether the delivered elements under these arrangements have value to our collaboration partner on a stand-alone basis and whether objective and reliable evidence of fair value of the undelivered item exists. Deliverables that do not meet these criteria are not evaluated separately for the purpose of revenue recognition. For a combined unit of accounting, non-refundable up-front fees and milestones are recognized in a manner consistent with the final deliverable, which is generally ratably over the period of the research and development obligation. Milestone payments are non-refundable and recognized as revenues over the period of the research arrangement. This typically results in a portion of the milestone being recognized at the date the milestone is achieved, which portion is equal to the applicable percentage of the research term that has elapsed at the date the milestone is achieved, and the balance being recognized over the remaining research term of the agreement. In certain situations, we may receive milestone payments after the end of our period of continued involvement. In such circumstances, we would recognize 100% of the milestone revenues when the milestone is achieved. Milestones payments, when recognized as revenue, are classified as contract revenues in our consolidated statement of operations.

Collaborative agreement reimbursement revenues or collaboration cost-sharing expenses are recorded as earned or owed based on the performance requirements by both parties under the respective contracts. For arrangements in which we and our collaborative partner are active participants in the agreement and for which both parties are exposed to significant risks and rewards depending on the commercial success of the activity, we present payments between the parties on a net basis. On an annual basis, to the extent that net research and development funding payments are received, Exelixis will record the net cash inflow as revenue. In annual periods when the net research and development funding payments result in a payable, these amounts are presented as collaboration cost-sharing expense. Agreement reimbursements are classified as either contract revenues or collaboration reimbursement in our consolidated statement of operations, depending on the terms of the agreement.

Revenues and expenses from collaborations that are not co-development agreements are recorded as contract revenues or research and development expenses in the period incurred.

Research and Development Expenses

Research and development costs are expensed as incurred and include costs associated with research performed pursuant to collaborative agreements. Research and development costs consist of direct and indirect internal costs related to specific projects as well as fees paid to other entities that conduct certain research activities on our behalf.

Substantial portions of our preclinical studies and all of our clinical trials have been performed by third-party contract research organizations ("CROs") and other vendors. We accrue expenses for preclinical studies performed by our vendors based on certain estimates over the term of the service period and adjust our estimates as required. We accrue expenses for clinical trial activities performed by CROs based upon the estimated amount of work completed on each trial. For clinical trial expenses, the significant factors used in estimating accruals include the number of patients enrolled, the number of active clinical sites, and the duration for which the patients will be enrolled in the trial. We monitor patient enrollment levels and related activities to the extent possible through internal reviews, correspondence with CROs and review of contractual terms. We base our estimates on the best information available at the time. However, additional information may become available to us which will allow us to make a more accurate estimate in future periods. In this event, we may be required to record adjustments to research and development expenses in future periods when the actual level of activity becomes more certain. Such increases or decreases in cost are generally considered to be changes in estimates and will be reflected in research and development expenses in the period first known. For example, during the years ended December 31, 2011 and 2010, we recorded a reduction related to prior periods of approximately $1.6 million and $0.9 million, or $0.01 per basic and diluted share, respectively, during 2011and 2010 to our accrued clinical trial liabilities and research and development expenses primarily related to our phase 2 and phase 3 clinical trials for cabozantinib.

Collaboration Arrangements

Collaborative agreement reimbursement revenues or collaboration cost-sharing expenses are recorded as earned or owed based on the performance requirements by both parties under the respective contracts. On December 11, 2008, we entered into a worldwide Collaboration Agreement with Bristol-Myers Squibb Company ("Bristol-Myers Squibb") for the development of cabozantinib and XL281, which was amended and restated by the Amended and Restated Collaboration Agreement dated as of April 15, 2011 by and between us and Bristol-Myers Squibb (as amended and restated, the "2008 Agreement"). However, on June 18, 2010, we regained full rights to develop and commercialize cabozantinib under the 2008 Agreement following receipt of notice from Bristol-Myers Squibb of its decision to terminate the 2008 Agreement, solely as to cabozantinib, on a worldwide basis. Prior to the termination of the 2008 Agreement as to cabozantinib, both parties were actively involved with compound development and certain research and development expenses were partially reimbursable to us on a net basis by compound. On an annual basis, amounts owed by Bristol-Myers Squibb to us, net of amounts reimbursable to Bristol-Myers Squibb by us for the development of cabozantinib and XL281, were recorded as collaboration reimbursement revenues. Conversely, research and development expenses would include the net settlement of amounts we owed Bristol-Myers Squibb for research and development expenses that Bristol-Myers Squibb incurred in connection with the development of cabozantinib, less amounts reimbursable to us by Bristol-Myers Squibb for the development of both cabozantinib and XL281. On July 8, 2011, we received written notification from Bristol-Myers Squibb of its decision to terminate the 2008 Agreement in its entirety. Due to this termination, which became effective on October 8, 2011, for the year ended December 31, 2011, reimbursement payments were presented as collaboration reimbursement revenues. We do not expect to record any further collaboration cost-sharing expense or collaboration reimbursement revenues under our current collaborations. See Note 2 for further information on our 2008 cancer collaboration with Bristol-Myers Squibb.

Net Income (Loss) Per Share

Basic net income (loss) per share is computed by dividing the net income (loss) attributable to Exelixis, Inc. for the period by the weighted average number of shares of common stock outstanding during the period. Diluted net income (loss) per share gives effect to potential incremental common shares issuable upon the exercise of stock options and warrants, and shares issuable pursuant to restricted stock units ("RSUs") (calculated based on the treasury stock method), and upon conversion of our convertible debt (calculated using an as-if-converted method).

The following table sets forth a reconciliation of basic and diluted net income (loss) per share (in thousands, except per share amounts):


	Year Ended December 31,
	2011		2010			2009
Numerator:
Net income (loss)	$	75,697	$	(92,330	)	$	(135,220	)

Denominator:
Shares used in computing basic income (loss) per share amounts		126,018		108,522			107,073

Add effect of dilutive securities:
Shares issuable upon the exercise of outstanding stock options		2,064		—			—
Shares issuable pursuant to the issuance of vested RSUs		515		—			—
Shares issuable pursuant to the exercise of warrants		1,858		—			—
Shares issuable upon the purchase of ESPP		24		—			—

Shares used in computing diluted net income (loss) per common share		4,461		—			—
Shares used in computing diluted income (loss) per share amounts		130,479		108,522			107,073

Net income (loss) per share, basic	$	0.60	$	(0.85	)	$	(1.26	)

Net income (loss) per share, diluted	$	0.58	$	(0.85	)	$	(1.26	)

The following table sets forth potential shares of common stock that are not included in the computation of diluted net loss per share because to do so would be antidilutive for the years ended December 31 2011, 2010 and 2009:


	2011(1)		2010		2009
Restricted stock units and options to purchase common stock		9,085,043		21,802,461		27,072,822
Conversion of loans		—		6,725,296		10,277,428
Warrants		—		2,250,000		3,000,000

		9,085,043		30,777,757		40,350,250

(1)	The Treasury Stock method was used to calculate the dilutive and excluded antidilutive share totals for the year ended December 31, 2011.

Foreign Currency Translation and Remeasurement

Assets and liabilities denominated in currencies other than the functional currency are remeasured using exchange rates in effect at the end of the period and related gains or losses are recorded in interest income and other, net. Gains and losses on the remeasurement of foreign currency assets and liabilities were not material for the periods presented.

Stock-Based Compensation

Stock-based compensation expense for all stock-based compensation awards is based on the grant date fair value estimated using the Black-Scholes option pricing model. We have limited historical information available to support the underlying estimates of certain assumptions required to value stock options. Because there is a market for options on our common stock, we have considered implied volatilities as well as our historical realized volatilities when developing an estimate of expected volatility. We estimate the term using historical data and peer data. We recognize compensation expense on a straight-line basis over the requisite service period. We have elected to use the simplified method to calculate the beginning pool of excess tax benefits.

We have employee and director stock option plans that are more fully described in Note 9.

Need to Raise Additional Capital

We have incurred net losses since inception. However, for the year ended December 31, 2011, we were in a net income position of $75.7 million, primarily as a result of the acceleration of deferred revenue under our 2008 collaboration agreement with Bristol-Myers Squibb that terminated in October 2011 and under our 2009 discovery collaboration agreement with Sanofi that terminated in December 2011. Notwithstanding our net income position for the year ended December 31, 2011, we anticipate further net losses and negative operating cash flow for the foreseeable future. Our ultimate success depends on the outcome of our research and development activities. In February 2012, we raised approximately $65 million in net proceeds from a public offering of our common stock. We may seek to raise funds through additional sales of equity or debt securities or through external borrowings. In addition, we may enter into additional strategic partnerships or collaborative arrangements for the development and commercialization of our compounds. If adequate funds are not available, we will be required to delay, reduce the scope of, or eliminate one or more of our development programs.

Recent Accounting Pronouncements

In October 2009, the FASB issued ASU No. 2009-13, Revenue Recognition – Multiple Deliverable Revenue Arrangements ("ASU 2009-13"). ASU 2009-13 provides application guidance on whether multiple deliverables exist, how the deliverables should be separated and how the consideration should be allocated to one or more units of accounting. This update establishes a selling price hierarchy for determining the selling price of a deliverable. The selling price used for each deliverable will be based on vendor-specific objective evidence, if available, third-party evidence if vendor-specific objective evidence is not available, or estimated selling price if neither vendor-specific or third-party evidence is available. Under ASU 2009-13, we may be required to exercise considerable judgment in determining the estimated selling price of delivered items under new agreements and our revenue under new agreements may be more accelerated as compared to the prior accounting standard. We adopted this guidance beginning January 1, 2011. While it has not had a material impact on our financial statements in 2011, we expect that this adoption could have a material impact on our financial statements going forward.

In June 2011, Accounting Standards Codification Topic 220, Comprehensive Income was amended to increase the prominence of items reported in other comprehensive income. Accordingly, a company can present all non-owner changes in stockholders' equity either in a single continuous statement of comprehensive income or in two separate but consecutive statements. We adopted this guidance in 2011 on a retrospective basis and have determined that it did not have a material effect on our consolidated financial statements.

Research And Collaboration Agreements

12 Months Ended

Dec. 31, 2011

Research And Collaboration Agreements [Abstract]

Research And Collaboration Agreements

NOTE 2. RESEARCH AND COLLABORATION AGREEMENTS

Merck

On December 21, 2011, we entered into an agreement with Merck & Co., Inc., known as MSD outside of the United States and Canada ("Merck"), pursuant to which we granted to Merck an exclusive worldwide license to our phosphoinositide-3 kinase delta ("PI3K-d") program, including XL499 and other related compounds. Pursuant to the terms of the agreement, Merck will have sole responsibility to research, develop, and commercialize compounds from our PI3K-d program.

Merck was required to pay us an upfront cash payment of $12.0 million in connection with the agreement, which we received on January 19, 2012. Under the terms of the agreement, we will complete the transfer of the license and associated knowledge transfer within ninety days of the effective date of the agreement and will recognize the upfront payment over the term of this technology transfer period. We will be eligible to receive potential development and regulatory milestone payments for multiple indications of up to $239.0 million. We will also be eligible to receive combined sales performance milestones and royalties on net-sales of products emerging from the agreement. Milestones and royalties are payable on compounds emerging from our PI3K-d program or from certain compounds that arise from Merck's internal discovery efforts targeting PI3K-d during a certain period.

Merck may at any time, upon specified prior notice to us, terminate the license. In addition, either of us may terminate the agreement for the other party's uncured material breach. In the event of termination by Merck at will or by us for Merck's uncured material breach, the license granted to Merck would terminate. In the event of a termination by us for Merck's uncured material breach, we would receive a royalty-free license from Merck to develop and commercialize certain joint products. In the event of termination by Merck for our uncured material breach, Merck would retain the licenses from us, and we would receive reduced royalties from Merck on commercial sales of products.

Sanofi

On December 22, 2011, we and Sanofi entered into an agreement (the "Termination Agreement") pursuant to which the parties mutually agreed to terminate the Collaboration Agreement (the "Collaboration Agreement") dated as of May 27, 2009 and effective as of July 7, 2009 for the discovery of inhibitors of Phosphoinositide-3 Kinase ("PI3K") alpha and beta. The termination of the Collaboration Agreement is effective as of the end of the day on December 22, 2011. The parties agreed to terminate the Collaboration Agreement in light of our decision in 2010 to focus our resources and development efforts on cabozantinib, our most advanced compound.

Under the Collaboration Agreement, the parties had agreed to combine efforts in establishing several pre-clinical PI3K programs and jointly share responsibility for research and preclinical activities related to isoform-selective inhibitors of PI3K-a and -ß. Sanofi was required to provide us with guaranteed annual research and development funding during the research term and was responsible for funding all development activities for each product following approval of the investigational new drug, or IND, application filed with the applicable regulatory authorities for such product. We were entitled to receive guaranteed research funding over three years to cover certain costs under the Collaboration Agreement. Sanofi had sole responsibility for all subsequent clinical, regulatory, commercial and manufacturing activities of any products arising from the collaboration; however, Sanofi could request that we conduct certain clinical trials at their expense. The research term under the collaboration was originally three years, although Sanofi had the right to extend the term for an additional one-year period upon prior written notice. We were eligible to receive development, regulatory and commercial milestones, as well as royalties on sales of any products commercialized under the Collaboration Agreement. The Collaboration Agreement would have automatically terminated under certain circumstances upon the expiration of the research term, in which case all licenses granted by a party to the other party would have terminated and reverted to the respective granting party, except that Sanofi would have retained the right to receive, under certain circumstances, the first opportunity to obtain a license from us to any isoform-selective PI3K inhibitor. In addition, after expiration of the research term, Sanofi had the right, upon certain prior written notice to us, to terminate the Collaboration Agreement in whole or as to particular products, in which case we would have received, subject to certain terms, conditions and obligations for us to make payments to Sanofi, exclusive licenses from Sanofi to research, develop and commercialize such products.

Pursuant to the terms of the Termination Agreement, the parties' material rights and obligations under the Collaboration Agreement have terminated, each party has released the other from any potential liabilities arising under the Collaboration Agreement prior to the termination effective date, each party retains ownership of the intellectual property that it generated under the Collaboration Agreement, and we have granted Sanofi covenants not-to-enforce with respect to certain of our intellectual property rights. The Termination Agreement required that Sanofi make a payment to us of $15.3 million within 10 business days after the termination effective date, which we received in January 2012. If either party or its affiliate or licensee develops and commercializes a therapeutic product containing an isoform-selective PI3K inhibitor that arose from such party's work (or was derived from such work) under the Collaboration Agreement, then such party will be obligated to pay royalties to the other party based upon the net sales of such products. The Termination Agreement provides that Sanofi will make a milestone payment to the us upon the first receipt by Sanofi or its affiliate or licensee of regulatory approval for the first therapeutic product containing an isoform-selective PI3K inhibitor that arose from Sanofi's work (or was derived from such work) under the Collaboration Agreement. In addition, the Termination Agreement provides that Sanofi will make a milestone payment to us upon the first compound that is subject to the covenant not-to-enforce reaching a pre-clinical event.

For purposes of recognizing up-front payments received under the Collaboration Agreement, prior to the effectiveness of the Termination Agreement, we were recognizing revenue through the end of the research term, which was estimated to be July 2013. As a result of the termination of the Collaboration Agreement, the estimated research term ended on December 22, 2011. Accordingly, we accelerated the remaining deferred revenue balance of $53.1 million as of that date, an increase of $0.42 per basic share or $0.41 per diluted share, and recognized a total of$73.6 million in revenue in the fourth fiscal quarter of 2011, relating to the up-front payment under the Collaboration Agreement and the termination payment pursuant to the Termination Agreement.

In addition to the Termination Agreement and the Collaboration Agreement, we and Sanofi remain parties to a global license agreement for the development and commercialization of XL147 (SAR245408) and XL765 (SAR245409), PI3K inhibitors that are in clinical development.

Bristol-Myers Squibb

TGR5 License Agreement

In October 2010, we entered into a global license agreement with Bristol-Myers Squibb for XL475 (and any potential backups), a preclinical compound that modulates the metabolic target known as TGR5 (the "TGR5 License Agreement"). Pursuant to the terms of the TGR5 License Agreement, Bristol-Myers Squibb will have a worldwide exclusive license to XL475 and will have sole control and responsibility for all subsequent research, development, commercial and manufacturing activities. The TGR5 License Agreement became effective in November 2010 following clearance under the Hart-Scott-Rodino Antitrust Improvement Act of 1976, as amended. The license agreement was amended and restated in April 2011 in connection with an assignment of patents to one of our wholly-owned subsidiaries.

Under the license agreement, Bristol-Myers Squibb received a worldwide exclusive license to XL475 and sole control and responsibility for all research, development, commercial and manufacturing activities. In November 2010 we received a nonrefundable upfront cash payment of $35.0 million from Bristol-Myers Squibb. Additionally, for each product developed by Bristol-Myers Squibb under the license, we will be eligible to receive development and regulatory milestones of up to $250.0 million in the aggregate and commercial milestones of up to $150.0 million in the aggregate, as well as royalties on commercial sales of any such products. As of December 31, 2011, we have recognized aggregate license revenue of $13.6 million under this agreement.

ROR Collaboration Agreement

In October 2010, we entered into a worldwide collaboration with Bristol-Myers Squibb pursuant to which each party granted to the other certain intellectual property licenses to enable the parties to discover, optimize and characterize ROR antagonists that may subsequently be developed and commercialized by Bristol-Myers Squibb. In November 2010 we received a nonrefundable upfront cash payment of $5.0 million from Bristol-Myers Squibb. Additionally, for each product developed by Bristol-Myers Squibb under the collaboration, we will be eligible to receive development and regulatory milestones of up to $255.0 million in the aggregate and commercial milestones of up to $150.0 million in the aggregate, as well as royalties on commercial sales of any such products. The collaboration agreement was amended and restated in April 2011 in connection with an assignment of patents to one of our wholly-owned subsidiaries. In July 2011, we achieved a development milestone of $2.5 million and have recognized aggregate license and contract revenues of $3.1 million under this agreement as of December 31, 2011.

2008 Cancer Collaboration

In December 2008, we entered into a worldwide collaboration with Bristol-Myers Squibb for cabozantinib and XL281 (BMS-908662), a RAF inhibitor. Upon effectiveness of the 2008 Agreement in December 2008, Bristol-Myers Squibb made a nonrefundable upfront cash payment of $195.0 million for the development and commercialization rights to both programs. The 2008 Agreement required Bristol-Myers Squibb to make additional license payments to us of $45.0 million, which were received during 2009.

On July 8, 2011, we and one of our wholly-owned subsidiaries received written notification from Bristol-Myers Squibb of its decision to terminate the 2008 Agreement, on a worldwide basis as to XL281. The termination was made pursuant to the terms of the 2008 Agreement and became effective on October 8, 2011. Bristol-Myers Squibb informed us that the termination was based upon Bristol-Myers Squibb's review of XL281 in the context of Bristol-Myers Squibb's overall research and development priorities and pipeline products. Upon the effectiveness of the termination, Bristol-Myers Squibb's license relating to XL281 terminated, and rights to XL281 reverted to us. We also received, subject to certain terms and conditions, licenses from Bristol-Myers Squibb to research, develop and commercialize XL281. We have discontinuted activities related to XL281 and do not currently expect to further research, develop or commercialize XL281.

Under the 2008 Agreement, we and Bristol-Myers Squibb originally agreed to co-develop cabozantinib and Bristol-Myers Squibb also received an exclusive worldwide license to develop and commercialize XL281. On June 18, 2010, we received a notice from Bristol-Myers Squibb of its decision to terminate the 2008 Agreement solely as to cabozantinib, on a worldwide basis, pursuant to the terms of the 2008 Agreement. We continued to carry out certain clinical trials of XL281 under the 2008 Agreement, and Bristol-Myers Squibb was responsible for funding all future development of XL281, including our activities. We were eligible for development and regulatory milestones of up to $315.0 million on XL281, sales performance milestones of up to $150.0 million and double-digit royalties on worldwide sales of XL281.

For purposes of recognizing upfront license fees received under the 2008 Agreement, prior to receiving the termination notification from Bristol-Myers Squibb in July 2011, we were recognizing revenue related to the upfront license fees through the estimated period of our involvement, or April 2014. As a result of the July 2011 termination, the estimated research term was revised to end on October 8, 2011. Accordingly, we accelerated the recognition of the remaining deferred revenue balance through the revised end of the research term and recognized an additional $99.1 million in revenue, or $0.79 per basic share or $0.76 per diluted share, during 2011. Amounts attributable to both programs under the 2008 Agreement consisted of the following (in thousands):


	Year Ended December 31,
	2011		2010		2009
Exelixis research and development expenses(1)	$	2,598	$	41,877	$	52,148
Net amount due from (owed to) collaboration partner	$	2,778	$	27,411	$	(4,582	)

(1)	Total research and development expenses attributable to us include direct third party expenditures plus estimated internal personnel costs are calculated in accordance with the terms of the particular collaboration.

2007 Cancer Collaboration

In December 2006, we entered into a worldwide collaboration with Bristol-Myers Squibb, which became effective in January 2007, to discover, develop and commercialize novel targeted therapies for the treatment of cancer. We were responsible for discovery and preclinical development of small molecule drug candidates directed against mutually selected targets. In January 2007, Bristol-Myers Squibb made an upfront payment of $60.0 million to us for which we granted Bristol-Myers Squibb the right to select up to three investigational new drug ("IND") candidates from six future Exelixis compounds. We recognized the upfront payment as revenues over the estimated research term.

For each IND candidate selected, we were entitled to receive a $20.0 million selection milestone from Bristol-Myers Squibb. Once selected, Bristol-Myers Squibb became responsible for leading the further development and commercialization of the selected IND candidates. In addition, we had the right to opt in to co-promote the selected IND candidates, in which case we would equally share all development costs and profits in the United States. In January 2008 and November 2008, Bristol-Myers Squibb exercised its option under the collaboration to develop and commercialize XL139 (BMS-833923), a Hedgehog inhibitor, and XL413 (BMS-863233), a CDC7 inhibitor, respectively. Under the terms of the collaboration agreement, the selection of XL139 and XL413 by Bristol-Myers Squibb entitled us to milestone payments of $20.0 million each, which we received in February 2008 and December 2008, respectively. In addition, we exercised our option under the collaboration agreement to co-develop and co-commercialize each of XL139 and XL413 in the United States. However, in September 2010, we and Bristol-Myers Squibb terminated the XL413 program due to an unfavorable pharmacological profile observed in phase 1 clinical evaluation. Additionally, in connection with an amendment to the collaboration which became effective in November 2010, we exercised our right to opt-out of further co-development of XL139 in consideration for a payment of $20.0 million. The collaboration agreement was amended and restated in April 2011 in connection with an assignment of patents to one of our wholly-owned subsidiaries. We have no further responsibility for conducting new activities or funding new development or commercialization activities with respect to XL139 and will therefore no longer be eligible to share profits on sales of any commercialized products under the collaboration. We will continue to be eligible to receive regulatory and commercial milestones as well as double-digit royalties on any future sales of any products commercialized under the collaboration. As a result of the November 2010 amendment to the collaboration, the research term has ended, and we have no further obligation to deliver to Bristol-Myers Squibb a third IND candidate under the collaboration.

LXR Collaboration

In December 2005, we entered into a collaboration agreement with Bristol-Myers Squibb for the discovery, development and commercialization of novel therapies targeted against LXR, a nuclear hormone receptor implicated in a variety of cardiovascular and metabolic disorders. This agreement became effective in January 2006, at which time we granted Bristol-Myers Squibb an exclusive worldwide license with respect to certain intellectual property primarily relating to compounds that modulate LXR. During the research term, we jointly identified drug candidates with Bristol-Myers Squibb that were ready for IND-enabling studies. After the selection of a drug candidate for further clinical development by Bristol-Myers Squibb, Bristol-Myers Squibb agreed to be solely responsible for further preclinical development as well as clinical development, regulatory, manufacturing and sales/marketing activities for the selected drug candidate. We do not have rights to reacquire the selected drug candidates selected by Bristol-Myers Squibb. The research term expired in January 2010. The collaboration agreement was amended and restated in April 2011 in connection with an assignment of patents to one of our wholly-owned subsidiaries.

Under the collaboration agreement, Bristol-Myers Squibb paid us a nonrefundable upfront payment in the amount of $17.5 million and was obligated to provide research and development funding of $10.0 million per year for an initial research period of two years. In September 2007, the collaboration was extended at Bristol-Myers Squibb's request through January 12, 2009, and in November 2008, the collaboration was further extended at Bristol-Myers Squibb's request through January 12, 2010. Under the collaboration agreement, Bristol-Myers Squibb is required to pay us development and regulatory milestones of up to $138.0 million per product for up to two products from the collaboration. In addition, we are also entitled to receive sales milestones and royalties on sales of any products commercialized under the collaboration. In connection with the extension of the collaboration through January 2009, and subsequently January 2010, Bristol-Myers Squibb paid us additional research funding of approximately $7.7 million and approximately $5.8 million, respectively. In December 2007, we received $5.0 million for achieving a development milestone.

Genentech

MEK Collaboration

In December 2006, we entered into a worldwide co-development agreement with Genentech for the development and commercialization of XL518, a small-molecule inhibitor of MEK. Genentech paid upfront and milestone payments of $25.0 million in December 2006 and $15.0 million in January 2007 upon signing of the co-development agreement and with the submission of an IND for XL518. Genentech paid us a milestone payment of $7.0 million in March 2010 to maintain Genentech's licenses to XL518.

Under the terms of the co-development agreement, we were responsible for developing XL518 through the end of a phase 1 clinical trial, and Genentech had the option to co-develop XL518, which Genentech could exercise after receipt of certain phase 1 data from us. In March 2008, Genentech exercised its option, triggering a payment to us of $3.0 million, which we received in April 2008. We were responsible for the phase 1 clinical trial until the point that a maximum tolerated dose, ("MTD"), was determined. After MTD was achieved, we granted to Genentech an exclusive worldwide revenue-bearing license to XL518 in March 2009 and Genentech is responsible for completing the phase 1 clinical trial and subsequent clinical development. We received an additional $7.0 million milestone payment in March 2010 under the terms of this agreement. Genentech is responsible for all further development costs of XL518 and we will share equally in the U.S. commercialization costs. On an annual basis, we are entitled to an initial equal share of U.S. profits and losses, which will decrease as sales increase, and we are also entitled to royalties on non-U.S. sales. We also have the option to co-promote in the United States. Genentech has the right to terminate the agreement without cause at any time. If Genentech terminates the co-development agreement without cause, all licenses that were granted to Genentech under the agreement terminate and revert to us. Additionally, we would receive, subject to certain conditions, licenses from Genentech to research, develop and commercialize reverted product candidates.

Notch Collaboration

In May 2005, we established a collaboration agreement with Genentech to discover and develop therapeutics directed against targets in the Notch signaling pathway. Under the terms of the collaboration agreement, we granted to Genentech a license to certain intellectual property. Genentech paid us a nonrefundable upfront license payment and was obligated to provide research and development funding over the three-year research term, totaling $16.0 million.

Under the collaboration agreement, Genentech had primary responsibility in the field of cancer for research and development activities as well as rights for commercialization of any products. In the fields of inflammatory disease and in the fields of tissue growth and repair, we had primary responsibility for research activities. In May 2008, the research term under the collaboration expired, at which time we had the option to elect to share a portion of the costs and profits associated with the development, manufacturing and commercialization of products in one of the fields. In June 2008, we elected to share a portion of the costs and profits associated with the development, manufacturing and commercialization of a therapeutic to treat tissue growth and repair. For all products under the collaboration agreement that were not elected as cost or profit sharing products, we may receive milestone and royalty payments. In June 2011, we earned an additional milestone of $2.0 million under this agreement that was recognized in full as contract revenue.

GlaxoSmithKline

In October 2002, we established a collaboration with GlaxoSmithKline to discover and develop novel therapeutics in the areas of vascular biology, inflammatory disease and oncology. The collaboration involved three agreements: (1) a product development and commercialization agreement (2) a stock purchase and stock issuance agreement; and (3) a loan and security agreement. During the term of the collaboration, we received $65.0 million in upfront and milestone payments, $85.0 million in research and development funding and loans in the principal amount of $85.0 million. In connection with the collaboration, GlaxoSmithKline purchased a total of three million shares of our common stock.

In October 2008, the development term under the collaboration concluded as scheduled. Under the terms of the collaboration, GlaxoSmithKline had the right to select up to two of the compounds in the collaboration for further development and commercialization. GlaxoSmithKline selected XL880 and had the right to choose one additional compound from a pool of compounds, which consisted of cabozantinib, XL281, XL228, XL820 and XL844 as of the end of the development term. For periods prior to the quarter ended June 30, 2008, revenues from upfront payments, premiums paid on equity purchases and milestones had been recognized assuming that the development term would be extended through the longest contractual period of October 27, 2010. However, as a result of the development term concluding on the earliest scheduled end date, the remaining deferred revenues was recognized through October 27, 2008. The change in the estimated development term increased our total revenues by $18.5 million or $0.17 per share for the period ended December 31, 2008.

In July 2008, we achieved proof-of-concept for cabozantinib and submitted the corresponding data report to GlaxoSmithKline. GlaxoSmithKline notified us in writing that it decided not to select cabozantinib for further development and commercialization and that it waived its right to select XL281, XL228, XL820 and XL844 for further development and commercialization. As a result, we retained the rights to develop, commercialize, and/or license all of the compounds, subject to payment to GSK of a 3% royalty on net sales of any product incorporating cabozantinib. As described under "– Bristol-Myers Squibb – 2008 Cancer Collaboration," in December 2008, we entered into a worldwide collaboration with Bristol-Myers Squibb for cabozantinib and XL281. We have discontinued development of XL820, XL228 and XL844.

The $85.0 million loan we received from GlaxoSmithKline had an interest rate of 4.0% per annum. In accordance with the terms of our loan and security agreement, we elected to repay the third and final installment of the loan in shares of our common stock. The shares issued in connection with this repayment were valued at $6.66 per share, resulting in the issuance of 5,537,906 shares of our common stock to GlaxoSmithKline on October 27, 2011, as satisfaction in full of our $36.9 million repayment obligation, including $8.0 million in accrued interest, under the loan and security agreement. GlaxoSmithKline subsequently released its related security interest in certain of our patents.

Boehringer Ingelheim

On May 7, 2009, we entered into a collaboration agreement with Boehringer Ingelheim International GmbH ("Boehringer Ingelheim") to discover, develop and commercialize products that consist of agonists of the sphingosine-1-phosphate type 1 receptor ("S1P1R"), a central mediator of multiple pathways implicated in a variety of autoimmune diseases.

Under the terms of the agreement, Boehringer Ingelheim paid us a nonrefundable upfront cash payment of $15.0 million for the development and commercialization rights to our S1P1R agonist program, and we shared responsibility for discovery activities under the collaboration with Boehringer Ingelheim. The agreement provided that the parties would each conduct research under a mutually agreed upon research plan until such time that we submitted a compound that met agreed-upon criteria, or such later time as agreed upon by the parties. The parties were responsible for their respective costs and expenses incurred in connection with performing research under the collaboration. Under the collaboration, Boehringer Ingelheim also had the right, at its own expense, to conduct additional research on S1P1R agonists outside of the scope of the research plan agreed to by the parties. The agreement further provided that Boehringer Ingelheim would receive an exclusive worldwide license to further develop, commercialize and manufacture compounds developed under the collaboration and have sole responsibility for, and bear all costs and expenses associated with, all subsequent preclinical, clinical, regulatory, commercial and manufacturing activities. In return, we would potentially receive up to $339.0 million in further development, regulatory and commercial milestones and be eligible to receive royalties on worldwide sales of products commercialized under the collaboration. The upfront payment was recognized ratably over the estimated research term and recorded as license revenues from the effective date of the agreement. During the first half of 2010, the expected research term was extended from eleven months to twenty three months through March 2011, resulting in an extension of the term for revenue recognition purposes and a corresponding decrease in license revenues recognized each quarter. The agreement terminated in April 2011 and the parties have no further obligations to each other.

Daiichi Sankyo

In March 2006, Exelixis and Daiichi Sankyo Company Limited ("Daiichi Sankyo") entered into a collaboration agreement for the discovery, development and commercialization of novel therapies targeted against Mineralocorticoid Receptor ("MR"), a nuclear hormone receptor implicated in a variety of cardiovascular and metabolic diseases. Under the terms of the agreement, we granted to Daiichi Sankyo an exclusive, worldwide license to certain intellectual property primarily relating to compounds that modulate MR. Daiichi Sankyo is responsible for all further preclinical and clinical development, regulatory, manufacturing and commercialization activities for the compounds and we do not have rights to reacquire such compounds, except as described below.

Daiichi Sankyo paid us a nonrefundable upfront payment in the amount of $20.0 million and was obligated to provide research and development funding of $3.8 million over a 15-month research term. In June 2007, our collaboration agreement with Daiichi Sankyo was amended to extend the research term by six months over which Daiichi Sankyo was required to provide $1.5 million in research and development funding. In November 2007, the parties decided not to further extend the research term. For each product from the collaboration, we are also entitled to receive payments upon attainment of pre-specified development, regulatory and commercialization milestones. In December 2010, we received a milestone payment of $5.0 million in connection with an IND filing made by Daiichi Sankyo for a compound developed under the collaboration. In addition, we are also entitled to receive royalties on any sales of certain products commercialized under the collaboration. Daiichi Sankyo may terminate the agreement upon 90 days' written notice in which case Daiichi Sankyo's payment obligations would cease, its license relating to compounds that modulate MR would terminate and revert to us, and we would receive, subject to certain terms and conditions, licenses from Daiichi Sankyo to research, develop and commercialize compounds that were discovered under the collaboration.

Dispositions	12 Months Ended
Dispositions	Dec. 31, 2011
Dispositions [Abstract]
Dispositions	NOTE 3. DISPOSITIONS Artemis On November 20, 2007 (the "Taconic Closing Date"), we entered into a share sale and transfer agreement with Taconic Farms, Inc., ("Taconic"), pursuant to which Taconic acquired from us, for $19.8 million in cash, 80.1% of the outstanding share capital in our wholly-owned subsidiary, Artemis Pharmaceuticals GmbH ("Artemis"), located in Cologne, Germany. Subsequent to the transaction, Artemis was renamed TaconicArtemis GmbH. In connection with the sale and transfer agreement. In connection with the sale and transfer agreement, we also entered into a shareholders' agreement and approved amended articles of association of Artemis that govern the relationship between us and Taconic as shareholders of Artemis, particularly with respect to matters of corporate governance and the transfer of our respective ownership interests. The shareholders' agreement provided that we could require Taconic to purchase our remaining 19.9% interest in Artemis between 2010 and 2015 or in the event of a change in control of Taconic, and that Taconic could require us to sell our 19.9% interest to Taconic between 2013 and 2015 or in the event of a change in control of Exelixis, in each case subject to certain conditions set forth in the shareholders' agreement. On September 27, 2011, in accordance with the terms and conditions of the shareholders' agreement, we exercised our right to sell our remaining 19.9% interest in Artemis to Taconic and Taconic was obligated to remit payment for such interest within 90 days. Pursuant to the terms of the shareholders' agreement, in December 2011, we received $3.0 million in consideration of our remaining 19.9% interest, and we recognized a gain of $2.3 million after consideration of foreign currency and the write off of the carrying value of our investment in Artemis.

- Definition

The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 144
-Paragraph 43-48
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2941-110230

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1510-107760

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1020-107759

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1012-107759

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1474-107760

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 45
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6390789&loc=d3e2443-110228

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1436-107760

+ Details

Restructurings

12 Months Ended

Dec. 31, 2011

Restructurings [Abstract]

Restructurings

NOTE 4. RESTRUCTURINGS

During 2010, we implemented two restructuring plans that resulted in an overall reduction in our workforce of 386 employees. In March 2011, we implemented an additional restructuring plan that resulted in further terminations in 2011. Taking into consideration employees who have since been recalled, there has been an aggregate reduction in headcount from the 2010 and 2011 restructuring plans of 402 employees. The restructuring plans are a consequence of our decision to focus our proprietary resources and development efforts on the late-stage development and commercialization of cabozantinib.

In connection with the 2010 and 2011 restructuring plans, we have recorded aggregate restructuring charges of $42.9 million, of which $20.3 million related to termination benefits and $22.6 million related to facility-charges and the impairment of various assets. Our 2011 restrucuturing expense is primarily facility-related charges that relate to our buildings in South San Francisco, California and take into consideration our entry into two sublease agreements for portions of a building that we entered into in July 2011 as well as charges relating to the short-term exit of the second floor of another building in December 2011. Additionally, we had asset impairment charges of $3.7 million relating to excess equipment and other assets, partially offset by cash proceeds of $1.7 million from the sale of such assets.

With respect to our restructuring plans, we expect to incur additional restructuring charges of $1.9 million relating to the previously mentioned exit and sublease of our South San Francisco facilities. These charges will be recorded through the end of 2017, or the end of the building lease terms.

As of December 31, 2011, the 2010 and 2011 restructuring plans had resulted in aggregate cash expenditures of $23.4 million net of $1.7 million in cash received in connection with the sale of excess equipment and other assets, of which $14.1 million was paid in 2010 and $9.3 million was paid in 2011. We expect to pay an additional $15.9 million, net of cash received from our subtenants, relating to facility costs. We expect these additional facility costs to be paid through 2017, or the end of our lease terms of the buildings.

The total outstanding restructuring liability is included in Current portion of restructuring and Long-term portion of restructuring on our Condensed Consolidated Balance Sheet and is based upon restructuring charges recognized as of December 31, 2011 in connection with the 2010 and 2011 restructuring plans. As of December 31, 2011, the components of these liabilities are summarized in the following table (in thousands):


	Employee Severance And Other Benefits			Facility Charges			Asset Impairment			Legal and Other Fees			Total
Ending accrual balance as of December 31, 2010	$	5,523		$	8,688		$	—		$	70		$	14,281
Restructuring charge		2,566			8,480			(907	)		(3	)		10,136
Cash payments		(7,366	)		(3,469	)		—			(16	)		(10,851	)
Adjustments or non-cash credits including stock compensation expense		(717	)		222			(619	)		—			(1,114	)
Proceeds from sale of assets		—			—			1,526			—			1,526

Ending accrual balance as of December 31, 2011	$	6		$	13,921		$	—		$	51		$	13,978

The restructuring charges that we expect to incur in connection with the restructuring plans are subject to a number of assumptions, and actual results may materially differ. We may also incur other material charges not currently contemplated due to events that may occur as a result of, or associated with, the restructuring plans.

- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

+ References + Details

Property And Equipment

12 Months Ended

Dec. 31, 2011

Property And Equipment [Abstract]

Property And Equipment

NOTE 5. PROPERTY AND EQUIPMENT

Property and equipment consists of the following (in thousands):


	December 31,
	2011			2010
Laboratory equipment	$	28,795		$	43,356
Computer equipment and software		11,743			20,163
Furniture and fixtures		3,230			4,772
Leasehold improvements		15,961			21,993
Construction-in-progress		155			373

		59,884			90,657
Less accumulated depreciation and amortization		(51,378	)		(74,846	)

	$	8,506		$	15,811

For the years ended December 31, 2011, 2010 and 2009, we recorded depreciation expense of $6.8 million, $10.5 million and $12.6 million, respectively. In 2011 and 2010, we recorded impairment charges in the amount of approximately $0.5 million and $3.2 million in connection with our 2010 restructuring plans, partially offset by auction proceeds of $1.7 million.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

+ References + Details

Deerfield Credit Facility	12 Months Ended
Deerfield Credit Facility	Dec. 31, 2011
Deerfield Credit Facility [Abstract]
Deerfield Credit Facility	NOTE 6. DEERFIELD CREDIT FACILITY On June 4, 2008, we entered into a facility agreement with entities affiliates with Deerfield Management Company L.P. ("Deerfield"), pursuant to which Deerfield agreed to loan to us up to $150.0 million. We had the right to draw down on the loan facility through December 4, 2009, with any amounts drawn being due on June 4, 2013. The facility agreement was terminated in November 2009. As a result of the termination, we incurred a $5.2 million charge to interest expense relating to the write-off of deferred financing costs. We did not draw on the facility agreement at any time prior to its termination. Pursuant to the facility agreement, we paid Deerfield a one-time transaction fee of $3.8 million, or 2.5% of the loan facility. In addition, we were obligated to pay an annual commitment fee of $3.4 million that was payable quarterly and was recognized as interest expense as incurred. Pursuant to the facility agreement, we issued six-year warrants to Deerfield to purchase an aggregate of 1,000,000 shares of our common stock at an exercise price of $7.40 per share. Warrants issued upon execution of the facility agreement were assigned a value of $3.4 million using the Black-Scholes option pricing model. The related assumptions were as follows: risk-free interest rate of 3.41%, expected life of six years, volatility of 62% and expected dividend yield of 0%. See Note 7 regarding the 2010 Deerfield Financing.

Debt

12 Months Ended

Dec. 31, 2011

Debt [Abstract]

Debt

NOTE 7. DEBT

Our debt consists of the following (in thousands):


	December 31,
	2011			2010
GlaxoSmithKline convertible loans	$	—		$	28,900
Bank equipment lines of credit		10,130			16,162
Silicon Valley Bank Term Loan		80,000			80,000
Deerfield notes		91,385			83,396

		181,515			208,458
Less: current portion		(4,870	)		(37,748	)

Long-term debt	$	176,645		$	170,710

Deerfield Financing

On June 2, 2010, we entered into a note purchase agreement with Deerfield, pursuant to which, on July 1, 2010, we sold to Deerfield an aggregate of $124.0 million initial principal amount of our secured convertible notes due June 2015 for an aggregate purchase price of $80.0 million, less closing fees and expenses of approximately $2.0 million. The outstanding principal amount of the notes bears interest in the annual amount of $6.0 million, payable quarterly in arrears. We will be required to make mandatory prepayments on the notes on an annual basis in 2013, 2014 and 2015 equal to 15% of certain revenues from our collaborative arrangements received during the prior fiscal year, subject to a maximum annual prepayment amount of $27.5 million and, for payments due in January 2013 and 2014, a minimum prepayment amount of $10.0 million. We may also prepay all or a portion (not less than $5.0 million) of the principal amount of the notes at an optional prepayment price based on a discounted principal amount (during the first three years of the term, subject to a prepayment premium) determined as of the date of prepayment, plus accrued and unpaid interest, plus in the case of a prepayment of the full principal amount of the notes (other than prepayments upon the occurrence of specified transactions relating to a change of control or a substantial sale of assets), all accrued interest that would have accrued between the date of such prepayment and the next anniversary of the note purchase agreement. In lieu of making any optional or mandatory prepayment in cash, subject to certain limitations (including a cap on the number of shares issuable under the note purchase agreement), we have the right to convert all or a portion of the principal amount of the notes into, or satisfy all or any portion of the optional prepayment amounts or mandatory prepayment amounts (other than the first $10.0 million of mandatory prepayments required in 2013 and 2014) with shares of our common stock. Additionally, in lieu of making any payment of accrued and unpaid interest in respect of the notes in cash, subject to certain limitations, we may elect to satisfy any such payment with shares of our common stock. The number of shares of our common stock issuable upon conversion or in settlement of principal and interest obligations will be based upon the discounted trading price of our common stock over a specified trading period. Upon certain changes of control of our company, a sale or transfer of assets in one transaction or a series of related transactions for a purchase price of more than $400 million or a sale or transfer of more than 50% of our assets, Deerfield may require us to prepay the notes at the optional prepayment price, plus accrued and unpaid interest and any other accrued and reimbursable expenses (the "Put Price"). Upon an event of default, Deerfield may declare all or a portion of the Put Price to be immediately due and payable.

We also entered into a security agreement in favor of Deerfield which provides that our obligations under the notes will be secured by substantially all of our assets except intellectual property. The note purchase agreement and the security agreement include customary representations and warranties and covenants made by us, including restrictions on the incurrence of additional indebtedness. The balance of unamortized closing fee and expenses of $1.8 million is recorded in the accompanying consolidated balance sheet as long-term assets. The carrying value of the loan as of December 31, 2011 is $91.4 million.

Silicon Valley Bank Loan and Security Agreement

In December 2004, we entered into a loan modification agreement to the loan and security agreement originally entered into in May 2002. The terms associated with the original $16.0 million line of credit under the May 2002 agreement were not modified. The loan modification agreement provided for an additional equipment line of credit in the amount of up to $20.0 million with a draw down period of one year. Pursuant to the terms of the modified agreement, we were required to make interest only payments through February 2006 at an annual rate of 0.70% on all outstanding advances. This equipment line of credit was fully drawn as of March 31, 2006 and was fully paid off as of March 31, 2010.

In December 2006, we entered into a second loan modification agreement to the loan and security agreement originally entered into in May 2002. The terms associated with the original line of credit under the May 2002 agreement and December 2004 loan modification agreement were not modified. The December 2006 loan modification agreement provided for an additional equipment line of credit in the amount of up to $25.0 million with a draw down period of approximately one year. Each advance must be repaid in 48 equal, monthly installments of principal, plus accrued interest, at an annual rate of 0.85% fixed and is subject to a prepayment penalty of 1.0%. The loan facility is secured by a non-interest bearing certificate of deposit account with the bank, in an amount equal to at least 100% of the outstanding obligations under the line of credit. This equipment line of credit was fully drawn as of December 31, 2008. The outstanding obligation under the line of credit as of December 31, 2011 and 2010 was zero and $2.9 million, respectively.

In December 2007, we entered into a third loan modification agreement to the loan and security agreement originally entered into in May 2002 with Silicon Valley Bank. The terms associated with the original line of credit under the May 2002 agreement and the subsequent loan modifications were not modified. The December 2007 loan modification agreement provides for an additional equipment line of credit in the amount of up to $30.0 million with a draw down period of approximately 2 years(the "2007 Line of Credit"). Each advance must be repaid in 48 equal, monthly installments of principal, plus accrued interest, at an annual rate of 0.75% fixed. In December 2009, we amended the agreement and extended the draw down period on the 2007 Line-of-Credit for an additional 18 months through June 2011 and increased the principal amount of the line of credit from $30.0 million to $33.6 million. Pursuant to the terms of the amendment, we are required to make minimum draws of $2.5 million every 6 months through June 2011, for total additional draws of $7.5 million. The loan facility requires security for the 2007 Line of Credit in the form of a non-interest bearing certificate of deposit account with the bank, in an amount equal to at least 100% of the outstanding obligations under the line of credit. In June 2008, we drew down $13.6 million under this agreement, in December 2009, we drew down $5.0 million, and we drew down an additional $2.5 million in each of June 2010, December 2010 and June 2011 in accordance with the terms of the modified agreement. In accordance with the amended loan terms, the 2007 Line of Credit has expired and we have no further draw down obligations under the line of credit.

On June 2, 2010, we amended our loan and security agreement with Silicon Valley Bank to provide for a new seven-year term loan in the amount of $80.0 million. The principal amount outstanding under the term loan accrues interest at 1.0% per annum, which interest is due and payable monthly. We are required to repay the term loan in one balloon principal payment, representing 100% of the principal balance and accrued and unpaid interest, on May 31, 2017. We have the option to prepay all, but not less than all, of the amounts advanced under the term loan, provided that we pay all unpaid accrued interest thereon that is due through the date of such prepayment and the interest on the entire principal balance of the term loan that would otherwise have been paid after such prepayment date until the maturity date of the term loan. We are required to maintain at all times on deposit in one or more non-interest bearing demand deposit accounts with Silicon Valley Bank or one of its affiliates a compensating balance, constituting support for the obligations under the term loan, with a principal balance in value equal to at least 100% of the outstanding principal balance of the term loan.

In August 2011, we amended our term loan agreement to allow for the compensating balance to be maintained on deposit in one or more investment accounts with Silicon Valley Bank or one of its affiliates. This compensating balance is to have a value equal to at least 100%, but not to exceed 107%, of the outstanding principal balance of the term loan and all lines of credit associated with Silicon Valley Bank. Any amounts outstanding under the term loan during the continuance of an event of default under the loan and security agreement will, at the election of Silicon Valley Bank, bear interest at a per annum rate equal to 6.0%. If one or more events of default under the loan and security agreement occurs and continues beyond any applicable cure period, Silicon Valley Bank may declare all or part of the obligations under the loan and security agreement to be immediately due and payable and stop advancing money or extending credit to us under the loan and security agreement.

The outstanding obligation under the term loan and all other lines of credit with Silicon Valley Bank as of December 31, 2011 and December 31, 2010 was $90.1 million and $96.1 million, respectively. The total collateral balance as of December 31, 2011 and December 31, 2010 was $85.3 million and $96.9 million, respectively and is reflected in our Condensed Consolidated Balance Sheet as Cash and cash equivalents and Marketable securities as the deposit account is not restricted as to withdrawal, however, withdrawal of some or all of this amount such that the collateral balance falls below the required level could result in Silicon Valley Bank declaring the obligation immediately due and payable.

Aggregate future principal payments of our total long-term debt as of December 31, 2010 are as follows (in thousands):


Year Ending December 31,(1)
2012	$	4,870
2013		30,670
2014		29,262
2015		69,328
2016		—
Thereafter		80,000

		214,130
Less current portion		(4,870	)

	$	209,260

(1)	Amounts include principal payments associated with the accretion of the Deerfield financing and assumes the maximum earliest possible payments that could be required to be made under the agreement terms. The actual timing of payments made may differ materially.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References + Details

Common Stock And Warrants

12 Months Ended

Dec. 31, 2011

Common Stock And Warrants [Abstract]

Common Stock And Warrants

NOTE 8. COMMON STOCK AND WARRANTS

Sale of Shares of Common Stock

In March 2011, we completed a public offering of 17.3 million shares of our common stock pursuant to a shelf registration statement previously filed with the SEC, which the SEC declared effective on May 8, 2009. We received approximately $179.4 million in net proceeds from the offering after deducting the underwriting discount and related offering expenses.

In February 2012, we completed a public offering of 12.7 million shares of our common stock pursuant to a shelf registration statement previously filed with the SEC, which the SEC declared effective on May 8, 2009. We received approximately $65 million in net proceeds from the offering after deducting the underwriting discount and related offering expenses.

Warrants

We have granted warrants to purchase shares of capital stock to SEI in connection with our financing transaction as described in Note 10. As of December, 31, 2011, SEI transferred the rights to all of these warrants to other parties and only 441,215 of the original 2 million warrants granted remain outstanding and exercisable.

In addition, in June 2008 we issued 1,000,000 six-year warrants to Deerfield pursuant to the facility agreement described in Note 6.

At December 31, 2011, the following warrants to purchase common stock were outstanding and exercisable:


Date Issued	Exercise Price per Share		Expiration Date		Number of Shares
June 4, 2008	$	7.40		June 4, 2014		1,000,000
June 10, 2009	$	6.05		June 10, 2014		441,215

						1,441,215

Employee Benefit Plans

12 Months Ended

Dec. 31, 2011

Employee Benefit Plans [Abstract]

Employee Benefit Plans

NOTE 9. EMPLOYEE BENEFIT PLANS

Stock Option Plans

We have several stock option plans under which we have granted incentive stock options and non-qualified stock options to employees, directors and consultants. The Board of Directors or a designated Committee of the Board is responsible for administration of our employee stock option plans and determines the term, exercise price and vesting terms of each option. Prior to 2011, options issued to our employees had a four-year vesting term, an exercise price equal to the fair market value on the date of grant, and a ten year life from the date of grant (five years for incentive stock options granted to holders of more than 10% of Exelixis' voting stock and 6.2 years for options issued in exchange for options cancelled under our 2009 option exchange program). On May 18, 2011, at the annual meeting of stockholders, the Exelixis, Inc. 2011 Equity Incentive Plan (the "2011 Plan") was approved and adopted as the successor plan to the Prior Plans. Stock options issued under the 2011 Plan have a four-year vesting term, an exercise price equal to the fair market value on the date of grant, and a seven year life from the date of grant.

On December 9, 2005, Exelixis' Board of Directors adopted a Change in Control and Severance Benefit Plan (the "Plan") for executives and certain non-executives. Eligible Plan participants include Exelixis employees with the title of vice president and higher. If a participant's employment with Exelixis is terminated without cause during a period commencing one month before and ending thirteen months following a change in control, then the Plan participant is entitled to have the vesting of all of such participant's stock options accelerated with the exercise period being extended to no more than one year. Effective December 23, 2008, we amended and restated the Plan to bring it into compliance with Section 409A of the Internal Revenue Code of 1986, as amended. Effective December 1, 2010, we further amended and restated the Plan to principally bring it into compliance with other rules governing such plans.

Stock Purchase Plan

In January 2000, we adopted the 2000 Employee Stock Purchase Plan (the "ESPP"). The ESPP allows for qualified employees (as defined in the ESPP) to purchase shares of our common stock at a price equal to the lower of 85% of the closing price at the beginning of the offering period or 85% of the closing price at the end of each six month purchase period. Compensation expense related to our ESPP was $0.7 million, $1.3 million, and $2.4 million for the years ended December 31, 2011, 2010 and 2009, respectively. As of December 31, 2011, we had 2,685,200 shares available for grant under our ESPP. We issued 375,305 shares, 689,093 shares, and 1,278,336 shares of common stock during the years ended December 31, 2011, 2010, and 2009, respectively, pursuant to the ESPP at an average price per share of $4.62, $4.55, and $2.99, respectively.

Stock-Based Compensation

We recorded and allocated employee stock-based compensation expense as follows (in thousands):


	Year Ended December 31, 2011		Year Ended December 31, 2010		Year Ended December 31, 2009
Research and development expense	$	5,935	$	11,535	$	15,708
General and administrative expense		5,459		7,931		7,109
Restructuring-related stock compensation expense		625		1,505		—

Total employee stock-based compensation expense	$	12,019	$	20,971	$	22,817

In addition, we recognized stock-based compensation expense of $0.1 million relating to nonemployees in each of the years ended December 31, 2011, 2010 and 2009.

During July 2010, our former Chief Executive Officer, George A. Scangos, Ph.D., resigned as an employee of Exelixis and in connection with such resignation agreed to cancel unvested stock options exercisable for 981,302 shares of our common stock and unvested RSUs with respect to 101,050 shares of our common stock. Due to Dr. Scangos' continued services as a director of Exelixis he was entitled to retain his stock options and RSUs. Therefore, we treated the cancellation as a modification of his stock option and RSU agreements and recorded a non-cash compensation charge of approximately $1.5 million to our consolidated statement of operations.

We use the Black-Scholes option pricing model to value our stock options. The expected life computation is based on historical exercise patterns and post-vesting termination behavior. We considered implied volatility as well as our historical volatility in developing our estimate of expected volatility. The fair value of employee share-based payments awards was estimated using the following assumptions and weighted average fair values:


	Stock Options
	2011			2010			2009(1)
Weighted average grant-date fair value	$	3.5		$	3.60		$	3.61
Risk-free interest rate		1.07	%		2.25	%		2.25	%
Dividend yield		0	%		0	%		0	%
Volatility		70	%		70	%		65	%
Expected life		5.5 years			5.2 years			5.4 years



	ESPP
	2011			2010			2009
Weighted average grant-date fair value	$	2.85		$	1.87		$	1.70
Risk-free interest rate		0.11	%		0.21	%		0.18	%
Dividend yield		0	%		0	%		0	%
Volatility		68	%		68	%		64	%
Expected life		6 months			6 months			2.6 months

(1)	These exclude the assumptions used to estimate the fair value of the options granted under the stock option exchange program as discussed below.

On July 7, 2009, we commenced a stock option exchange program approved by our stockholders on May 14, 2009. The exchange program was open to all eligible employees who, at the start of the exchange program, were employed by us or one of our subsidiaries and remained employed through August 5, 2009, the date that the replacement stock options were granted. As a result of the exchange, 9.9 million options were cancelled, of which 7.3 million and 2.6 million were vested and unvested, respectively. Of the 7.2 million replacement options that were granted, 5.1 million were issued in exchange for vested options and vested over a one year term, while 2.1 million options were issued in exchange for unvested options that vest over three years, with a one year cliff. In association with these grants, we recognized incremental compensation cost of approximately zero, $0.4 million and $0.3 million ratably over the vesting period, as of December 31, 2011, 2010, and 2009 respectively.

The fair value of replacement options issued under the option exchange was estimated using the following assumptions and resulted in the following weighted average fair values:


Weighted average fair value of awards	$	2.82
Risk-free interest rate		2.1	%
Dividend yield		0	%
Volatility		67	%
Expected life		3.7 years

A summary of all option activity was as follows for the following fiscal years ended December 31:


	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value
Options outstanding at December 31, 2008		24,141,186		$	9.67
Granted		12,180,734			5.93
Exercised		(59,763	)		4.57
Cancelled		(11,868,559	)		10.39

Options outstanding at December 31, 2009		24,393,598		$	7.46
Granted		243,500			6.28
Exercised		(495,098	)		5.42
Cancelled		(4,511,970	)		7.35

Options outstanding at December 31, 2010		19,630,030		$	7.52
Granted		2,545,625			5.86
Exercised		(2,161,804	)		5.75
Cancelled		(2,577,473	)		9.79

Options outstanding at December 31, 2011		17,436,378		$	7.16		4.92 years	$	216,760

Exercisable at December 31, 2011		13,319,848		$	7.54		4.31 years	$	166,966

At December 31, 2011, a total of 10,274,293 shares equivalents were available for grant under our stock option plans.

The aggregate intrinsic value in the table above represents the total intrinsic value (the difference between our closing stock price on the last trading day of fiscal 2011 and the exercise prices, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their options on December 31, 2011. Total intrinsic value of options exercised was $7.0 million, $0.8 million and $0.2 million for 2011, 2010 and 2009, respectively. Total fair value of employee options vested and expensed in 2011, 2010 and 2009 was $8.4 million, $16.2 million and $20.4 million, respectively.

The following table summarizes information about stock options outstanding and exercisable at December 31, 2011:


	Options Outstanding						Options Outstanding and Exercisable
Exercise Price Range	Number		Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price		Number of Exercisable		Weighted Average Exercise Price
$3.05 - $ 5.47		1,775,716		6.71	$	4.87		1,164,344	$	4.77
$5.50		2,140,059		6.74		5.50		0		0.00
$5.61		21,553		7.63		5.61		11,761		5.61
$5.63		3,329,797		3.72		5.63		3,082,881		5.63
$5.64 - $ 7.05		1,827,969		3.60		6.35		1,642,264		6.38
$7.12 - $ 7.51		2,141,795		6.55		7.28		1,289,960		7.26
$7.56 - $ 8.90		2,696,347		3.37		8.69		2,687,996		8.69
$8.92 - $ 9.50		1,764,871		4.11		9.00		1,764,871		9.00
$9.53 - $15.70		1,737,271		4.92		10.94		1,674,771		10.92
$16.62		1,000		0.00		16.62		1,000		16.62

		17,436,378		4.89	$	7.16		13,319,848	$	7.54

As of December 31, 2011, $10.7 million of total unrecognized compensation expense related to stock options is expected to be recognized over a weighted-average period of 2.79 years. Cash received from option exercises and purchases under the ESPP in 2011 and 2010 was $14.2 million and $5.8 million, respectively. A summary of all RSU activity for the fiscal year ended December 31, 2011 is presented below:


	Shares			Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value
RSUs outstanding at December 31, 2010		2,172,431		$	7.31
Awarded		356,498			6.17
Released		(648,437	)		7.43
Forfeited		(488,801	)		7.45

Awards outstanding at December 31, 2011		1,391,691		$	6.92		1.48 years	$	6,589,665

As of December 31, 2011, $6.3 million of total unrecognized compensation expense related to employee RSUs was expected to be recognized over a weighted-average period of 2.64 years.

401(k) Retirement Plan

We sponsor a 401(k) Retirement Plan whereby eligible employees may elect to contribute up to the lesser of 20% of their annual compensation or the statutorily prescribed annual limit allowable under Internal Revenue Service regulations. The 401(k) Retirement Plan permits Exelixis to make matching contributions on behalf of all participants. Beginning in 2002 through 2010, we matched 50% of the first 4% of participant contributions into the 401(k) Retirement Plan in the form of Exelixis common stock. However, beginning in January 2011, we will match 100% of the first 3% of participant contributions into the 401(k) Retirement Plan in the form of Exelixis common stock. We recorded expense of $0.8 million, $1.0 million and $1.1 million related to the stock match for the years ended December 31, 2011, 2010 and 2009, respectively.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph 64, 65, A240
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 93-6
-Paragraph 53
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 40
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929

+ Details

Symphony Evolution	12 Months Ended
Symphony Evolution	Dec. 31, 2011
Symphony Evolution [Abstract]
Symphony Evolution	NOTE 10. SYMPHONY EVOLUTION On June 9, 2005 (the "Symphony Closing Date"), we entered into a series of related agreements providing for the financing of the clinical development of XL784, XL647 and XL999 (the "Programs"). Pursuant to the agreements, Symphony Evolution, Inc. ("SEI") invested $80.0 million to fund the clinical development of these Programs and we licensed to SEI our intellectual property rights related to these Programs. SEI is a wholly owned subsidiary of Symphony Evolution Holdings LLC ("Holdings"), which provided $40.0 million in funding to SEI at closing, and an additional $40.0 million in June 2006. Pursuant to the agreements, we issued to Holdings a five-year warrant to purchase 750,000 shares of our common stock at $8.90 per share in June 2005. We issued an additional five-year warrant to purchase 750,000 shares of our common stock at $8.90 per share in connection with the additional $40.0 million in funding in June 2006. As part of the agreement, we also received an exclusive purchase option to acquire all of the equity of SEI, thereby allowing us to reacquire XL647, XL784 and XL999 at our sole discretion. The purchase option expired on June 9, 2009. As a result of the expiration of the purchase option, we issued a third warrant to Symphony Evolution Holdings LLC to purchase 500,000 shares of our common stock at a price of $6.05 per share with a five-year term. The expiration of the purchase option triggered a reconsideration event regarding our need to consolidate SEI, a variable interest entity. Upon the expiration of the purchase option, we no longer held a variable interest in the variable interest entity. Accordingly, we deconsolidated SEI and derecognized the SEI assets, liabilities and noncontrolling interest from our financial statements. In the second quarter, we recognized a loss of $9.8 million upon the deconsolidation of the variable interest entity. For the period prior to the expiration of the purchase option, we concluded that SEI was a variable interest entity for which we were the primary beneficiary. As a result, we included the financial condition and results of operations of SEI in our consolidated financial statements. Accordingly, we had deducted the losses attributable to the noncontrolling interest in SEI from our net loss in the consolidated statement of operations and we also reduced the noncontrolling interest holders' ownership interest in SEI in the consolidated balance sheet by SEI's losses. The noncontrolling interest holders' ownership in the consolidated balance sheet was $0.7 million as of December 31, 2008. Prior to 2009, we would not allocate losses to the noncontrolling interest in SEI such that the carrying value of the noncontrolling interest would be reduced below zero. However, with the adoption of updated reporting standards for noncontrolling interests in consolidated financial statements in the first quarter of fiscal year 2009, we would allocate losses to the noncontrolling interest in SEI such that the noncontrolling interest could have a negative carrying value. For the years ended December 31, 2011, 2010, and 2009, the losses attributed to the noncontrolling interest holders were zero, zero and $4.3 million, respectively.

Income Taxes

12 Months Ended

Dec. 31, 2011

Income Taxes [Abstract]

Income Taxes

NOTE 11. INCOME TAXES

We recorded an income tax benefit (provision) of $(1.3) million and $0.1 million for the periods ended December 31, 2011 and 2010, respectively. In 2009 and 2010, we recorded an income tax benefit as a result of the enactment of the Housing and Economic Recovery Act of 2008. Under this Act, corporations otherwise eligible for bonus first-year depreciation could instead elect to claim a refundable credit for R&D tax credits generated prior to 2006. This tax benefit was extended for tax year 2009 with the enactment of the American Recovery and Reinvestment Tax Act of 2009. Approximately $0.6 million of the 2011 provision relates to an adjustment of the refund received in 2009 and 2010 under these Acts after we further evaluated the qualified expenses from which the refund calculation was originally based. The remaining amount of $0.7 million relates to a tax deferred revenue adjustment that resulted in a state tax liability due to state net operating loss carryover limitations. As a result of these circumstances, we have revised our 2010 footnote disclosures to reflect the changes to our reported deferred tax assets as of December 31, 2010 from amounts previously reported.

Our consolidated net income (loss) includes the following components (in thousands):


	Year Ended December 31,
	2011		2010			2009
Domestic	$	76,992	$	(92,402	)	$	(140,843	)
Foreign		—		—			—

Total	$	76,992	$	(92,402	)	$	(140,843	)

A reconciliation of income taxes at the statutory federal income tax rate to net income taxes included in the accompanying consolidated statement of operations is as follows (in thousands):


	Year Ended December 31,
	2011			2010			2009
U.S. federal taxes (benefit) at statutory rate	$	26,177		$	(31,417	)	$	(47,886	)
Unutilized net operating losses		(29,650	)		29,636			42,954
Non-Deductable Interest		2,809			—			—
Stock based compensation		627			1,709			2,641
State Tax Expense		660			—			—
Other		36			72			2,291
Refundable Tax Credit		636			(72	)		(1,286	)

Total	$	1,295		$	(72	)	$	(1,286	)

Deferred tax assets and liabilities reflect the net tax effects of net operating loss and tax credit carryforwards and temporary differences between the carrying amounts of assets and liabilities for financial reporting and the amounts used for income tax purposes.

Our deferred tax assets and liabilities consist of the following (in thousands):


	December 31,
	2011			2010 Revised(1)
Deferred tax assets:
Net operating loss carryforwards(1)	$	318,638		$	273,395
Tax credit carryforwards		54,726			70,566
Capitalized research and development costs		805			1,836
Deferred revenue(1)		18,400			97,935
Accruals and reserves not currently deductible		6,522			7,087
Book over tax depreciation		6,543			7,251
Amortization of deferred stock compensation – non-qualified		25,865			23,145

Total deferred tax assets		431,499			481,215
Valuation allowance		(431,499	)		(481,215	)

Net deferred tax assets		—			—
Deferred tax liabilities:

Net deferred taxes	$	—		$	—

(1)

The 2010 deferred tax asset balances of net operating loss carryforwards and deferred revenue have been revised to correct an error that we identified in 2011. These revisions reflect additional revenue amounts that should have been included in income recognized for tax purposes in 2010. The revision in the 2010 deferred tax asset balances reflects a decrease in the net operating losses of $62.8 million with a corresponding increase of the same amount in deferred revenue. There was no impact on the balance sheet or statement of operations as of or for any periods presented.

Realization of deferred tax assets is dependent upon future earnings, if any, the timing and amount of which are uncertain. Accordingly, the net deferred tax assets have been fully offset by a valuation allowance. The valuation allowance decreased by $49.7 million and increased by $25.2 million and $52.4 million during 2011, 2010 and 2009, respectively.

At December 31, 2011, we had federal net operating loss carryforwards of approximately $863 million, which expire in the years 2018 through 2031, and federal research and development tax credits of approximately $66 million which expire in the years 2019 through 2029. We also had net operating loss carryforwards for California of approximately $724 million, which expire in the years 2013 through 2031, and California research and development tax credits of approximately $18 million which have no expiration.

Under the Internal Revenue Code and similar state provisions, certain substantial changes in our ownership could result in an annual limitation on the amount of net operating loss and credit carryforwards that can be utilized in future years to offset future taxable income. The annual limitation may result in the expiration of net operating losses and credit carryforwards before utilization.

We track the portion of our deferred tax assets attributable to stock option benefits; these amounts are no longer included in our gross or net deferred tax assets. The tax benefit of stock options total $6 million at December 31, 2011 and will only be recorded when we realize a reduction in taxes payable.

Accounting Standards Codification Topic 740-10 clarifies the accounting for uncertainty in income taxes by prescribing the recognition threshold a tax position is required to meet before being recognized in the financial statements. It also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition.

We had $46.4 million of unrecognized tax benefits as of January 1, 2011. The following table summarizes the activity related to our unrecognized tax benefits for the year ended December 31, 2011 (in thousands):


	Year Ended December 31, 2011
Balance at January 1, 2011	$	46,381
Decrease relating to prior year provision		(9,782	)
Increase relating to current year provision		2,711

Ending Balance at December 31, 2011	$	39,310

Included in the balance of unrecognized tax benefits as of December 31, 2011 are $126,000 of tax benefits that, if recognized, would affect the effective tax rate. All of our deferred tax assets are subject to a valuation allowance. As of December 31, 2011, the company accrued interest of $9,000, but no penalties, related to tax contingencies. Any tax-related interest and penalties are included in income tax expense in the consolidated statements of operations. We do not anticipate that the amount of unrecognized tax benefits existing as of December 31, 2011 will significantly decrease over the next 12 months.

We file U.S. and state income tax returns in jurisdictions with varying statues of limitations during which such tax returns may be audited and adjusted by the relevant tax authorities. The 1995 through 2011 years generally remain subject to examination by federal and most state tax authorities to the extent of net operating losses and credits generated during these periods and are being utilized in the open tax periods. The Company's 2008, 2009 and 2010 tax years are currently under audit by the Internal Revenue Service.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 136, 172
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 43, 44, 45, 46, 47, 48, 49
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319

+ Details

Commitments

12 Months Ended

Dec. 31, 2011

Commitments [Abstract]

Commitments

NOTE 12. COMMITMENTS

Leases

We lease office and research space and certain equipment under operating leases that expire at various dates through the year 2018. Certain operating leases contain renewal provisions and require us to pay other expenses. In connection with the sale of our cell factory business, we assigned our lease to our Portland facility to the purchaser and as a result of our March 2010 restructuring plan, we exited certain facilities in San Diego and South San Francisco. Aggregate future minimum lease payments under our operating leases are as follows (in thousands):


Year Ending December 31,	Operating Leases(1)
2012	$	19,397
2013		19,130
2014		19,539
2015		19,831
2016		16,431
Thereafter		11,910

	$	106,238

(1)	Minimum payments have not been reduced by minimum sublease rentals of $18.7 million due in the future under noncancelable subleases.

The following is a summary of aggregate future minimum lease payments under operating leases at December 31, 2011 by material operating lease agreements (in thousands):

Original
Term
(Expiration)

Renewal Option

Future
Minimum
Lease
Payment

Building Lease #1&2

May 2017

2 additional periods of 5 years

60,428

Building Lease #3

July 2018

1additional period of 5 years

29,586

Building Lease #4

December 2015

1additional period of 3 years

16,224

Total

106,238

Rent expense under operating leases was $21.3 million, $28.0 million and $21.0 million for the years ended December 31, 2011, 2010 and 2009, respectively. Rent expense under operating leases was net of sublease rentals of $1.9 million and $0.3 million for the years ended December 2011 and 2010, respectively. There were no sublease rentals in 2009.

Letter of Credit and Restricted Cash

We entered into a standby letter of credit with a bank in July 2004, which is related to a building lease, with a value of $0.5 million at each of December 31, 2011 and 2010. We entered into two standby letters of credit with a bank in May 2007, which is related to our workers compensation insurance policy, for a combined value of $0.8 million at each of December 2011 and 2010. As of December 31, 2011, the full amount of our three letters of credit was still available. As part of a purchasing card program with a bank we initiated during 2007, we were required to provide collateral in the form of a non-interest bearing certificate of deposit. The collateral at December 31, 2011 and 2010 was $2.9 million and $5.1 million, respectively., and we recorded these amounts in the accompanying Consolidated Balance Sheet as Restricted cash and investments as the securities are restricted as to withdrawal.

Indemnification Agreements

In connection with the sale of our plant trait business, we agreed to indemnify the purchaser and its affiliates up to a specified amount if they incur damages due to any infringement or alleged infringement of certain patents. We have certain collaboration licensing agreements, which contain standard indemnification clauses. Such clauses typically indemnify the customer or vendor for an adverse judgment in a lawsuit in the event of our misuse or negligence. We consider the likelihood of an adverse judgment related to an indemnification agreement to be remote. Furthermore, in the event of an adverse judgment, any losses under such an adverse judgment may be substantially offset by corporate insurance.

- Definition

The entire disclosure for commitments and contingencies.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 14
-Paragraph 3
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 9, 10, 11, 12
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.25)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6952336&loc=d3e14435-108349

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 440
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6394976&loc=d3e25287-109308

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6449706&loc=d3e16207-108621

+ Details

Quarterly Financial Data

12 Months Ended

Dec. 31, 2011

Quarterly Financial Data [Abstract]

Quarterly Financial Data

NOTE 13. QUARTERLY FINANCIAL DATA (UNAUDITED)

The following tables summarize the unaudited quarterly financial data for the last two fiscal years (in thousands, except per share data):


	2011 Quarter Ended
		March 31,			June 30,			September 30,		December 31,
Total revenues		$	35,893		$	32,162		$	128,272	$	94,309
Income (loss) from operations			(23,730	)		(18,008	)		79,699		51,574
Net income (loss) attributable to Exelixis, Inc.			(27,490	)		(20,975	)		77,865		46,297
Basic net income (loss) per share, attributable to Exelixis, Inc.		$	(0.24	)	$	(0.16	)	$	0.60	$	.35
Diluted net income (loss) per share, attributable to Exelixis, Inc.		$	(0.24	)	$	(0.16	)	$	0.59	$	.35



	2010 Quarter Ended
	March 31,(1,4)			June 30,(2,4)			September 30,			December 31,(3)
Total revenues	$	42,199		$	47,596		$	54,474		$	40,776
Loss from operations		(47,452	)		(25,631	)		(4,205	)		(14,109	)
Net loss attributable to Exelixis, Inc.		(43,249	)		(22,614	)		(8,603	)		(17,864	)
Basic and diluted net loss per share, attributable to Exelixis, Inc.	$	(0.40	)	$	(0.21	)	$	(0.08	)	$	(0.16	)

(1)

In connection with the March 2010 restructuring plan, we recorded a charge of approximately $16.1 million in the first quarter of 2010 primarily related to termination benefits, which includes the modification of certain stock option awards previously granted to the terminated employees. The modification accelerates the vesting of any stock options that would have vested over the period beginning from cessation of employment through August 5, 2010. Employees who were terminated in March also received an additional two months to exercise their options, for which a small charge was taken. The remainder of the charge was for the impairment of various assets and for non-cash charges relating to the closure of our facility in San Diego, California.

(2)

We recorded further restructuring expenses of approximately $9.4 million during the second quarter of 2010 associated primarily with lease-exit costs in connection with the sublease and exit of our South San Francisco building, partially offset by a reduction in termination benefits following the recall of certain employees that were originally terminated under the restructuring plan and the continued delay in the termination of a small group of employees impacted by the restructuring plan.

(3)

In connection with the December 2010 restructuring plan, we recorded a charge of approximately $6.9 million in the fourth quarter of 2010 primarily related to termination benefits, which includes the modification of certain stock option awards previously granted to the terminated employees. The modification allows employees who were terminated under the plan to exercise their options until September 2011. The remainder of the charge was for the impairment of various assets relating to idle equipment in our South San Francisco location.

(4)

In the second quarter of 2009, we signed an amendment to our arrangement with Agrigenetics for which we received $1.8 million in July 2009. We received additional payments of $2.7 million and $4.5 million in March 2010 and May 2010 respectively and recognized these as additional gains in other income.

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

+ References + Details

Organization And Summary Of Significant Accounting Policies (Policy)

12 Months Ended

Dec. 31, 2011

Organization And Summary Of Significant Accounting Policies [Abstract]

Organization

Organization

Basis Of Consolidation

Basis of Consolidation

Segment Information

Segment Information:

Use Of Estimates

Use of Estimates

Cash And Investments

Cash and Investments

The following summarizes available-for-sale securities included in cash and cash equivalents and restricted cash and investments as of December 31, 2011 (in thousands):


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Money market funds	$	81,986	$	—	$	—		$	81,986
Commercial paper		29,079		2		(1	)		29,080
Corporate bonds		116,068		22		(169	)		115,921
U.S. Government sponsored enterprises		37,237		12		—			37,249
Municipal bonds		19,488		—		(3	)		19,485

Total	$	283,858	$	36	$	(173	)	$	283,721


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
As reported:
Cash equivalents	$	74,256	$	1	$	—		$	74,257
Marketable securities		120,143		35		(173	)		120,005
Restricted cash and investments		4,199		—		—			4,199
Long-term investments		85,260		—		—			85,260

Total	$	283,858	$	36	$	(173	)	$	283,721

The following summarizes available-for-sale securities included in cash and cash equivalents and restricted cash and investments as of December 31, 2010 (in thousands):


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Money market funds	$	171,048	$	—	$	—		$	171,048
Commercial paper		19,283		—		—			19,283
Corporate bonds		36,869		18		(10	)		36,877
U.S. Government sponsored enterprises		18,811		5		—			18,816
Municipal bonds		10,913		—		(1	)		10,912

Total	$	256,924	$	23	$	(11	)	$	256,936


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
As reported:
Cash equivalents	$	98,001	$	—	$	(2	)	$	97,999
Marketable securities		65,210		23		(9	)		65,224
Restricted cash and investments		6,399		—		—			6,399
Long-term investments		87,314		—		—			87,314

Total	$	256,924	$	23	$	(11	)	$	256,936

Foreign Currency Forward Contract

Foreign Currency Forward Contract

Fair Value Measurements

Fair Value Measurements

Level 1 – quoted prices in active markets for identical assets and liabilities.

Level 2 – observable inputs other than quoted prices in active markets for identical assets and liabilities.

Level 3 – unobservable inputs.

As of December 31, 2011:


	Level 1		Level 2		Level 3		Total
Money market funds	$	81,986	$	—	$	—	$	81,986
Commercial paper		—		29,080		—		29,080
Corporate bonds		—		115,921		—		115,921
U.S. Government sponsored enterprises		—		37,249		—		37,249
Municipal bonds and variable rate demand notes		—		19,485		—		19,485

Total	$	81,986	$	201,735	$	—	$	283,721

As of December 31, 2010:


	Level 1		Level 2			Level 3		Total
Money market funds	$	171,048	$	—		$	—	$	171,048
Commercial paper		—		19,283			—		19,283
Corporate bonds		—		36,877			—		36,877
U.S. Government sponsored enterprises		—		18,816			—		18,816
Municipal bonds		—		10,912			—		10,912
Foreign currency forward contract		—		(156	)		—		(156	)

Total	$	171,048	$	85,732		$	—	$	256,780


	December 31, 2011		December 31, 2010
GlaxoSmithKline loan	$	—	$	26,693
Equipment lines of credit		10,066		16,064
Silicon Valley Bank loan		77,835		77,480

Total	$	87,901	$	120,237

Property And Equipment

Property and Equipment

Property and equipment are recorded at cost and depreciated using the straight-line method over the following estimated useful lives:


Equipment and furniture			5 years
Computer equipment and software			3 years
Leasehold improvements			Shorter of lease life or 7 years

Repairs and maintenance costs are charged to expense as incurred.

Goodwill

Goodwill

Long-Lived Assets

Long-Lived Assets

Concentration Of Credit Risk

Concentration of Credit Risk

The following table sets forth revenues recognized under our collaboration agreements that are 10% or more of total revenues during the years ending December 31, 2011, 2010 and 2009:


Collaborator	2011			2010			2009
Bristol-Myers Squibb		59	%		50	%		54	%
Sanofi		39	%		42	%		31	%

Revenue Recognition

Revenue Recognition

Collaborative agreement reimbursement revenues or collaboration cost-sharing expenses are recorded as earned or owed based on the performance requirements by both parties under the respective contracts. For arrangements in which we and our collaborative partner are active participants in the agreement and for which both parties are exposed to significant risks and rewards depending on the commercial success of the activity, we present payments between the parties on a net basis. On an annual basis, to the extent that net research and development funding payments are received, Exelixis will record the net cash inflow as revenue. In annual periods when the net research and development funding payments result in a payable, these amounts are presented as collaboration cost-sharing expense. Agreement reimbursements are classified as either contract revenues or collaboration reimbursement in our consolidated statement of operations, depending on the terms of the agreement.

Revenues and expenses from collaborations that are not co-development agreements are recorded as contract revenues or research and development expenses in the period incurred.

Research And Development Expenses

Research and Development Expenses

Collaboration Arrangements

Collaboration Arrangements

Collaborative agreement reimbursement revenues or collaboration cost-sharing expenses are recorded as earned or owed based on the performance requirements by both parties under the respective contracts. On December 11, 2008, we entered into a worldwide Collaboration Agreement with Bristol-Myers Squibb Company ("Bristol-Myers Squibb") for the development of cabozantinib and XL281, which was amended and restated by the Amended and Restated Collaboration Agreement dated as of April 15, 2011 by and between us and Bristol-Myers Squibb (as amended and restated, the "2008 Agreement"). However, on June 18, 2010, we regained full rights to develop and commercialize cabozantinib under the 2008 Agreement following receipt of notice from Bristol-Myers Squibb of its decision to terminate the 2008 Agreement, solely as to cabozantinib, on a worldwide basis. Prior to the termination of the 2008 Agreement as to cabozantinib, both parties were actively involved with compound development and certain research and development expenses were partially reimbursable to us on a net basis by compound. On an annual basis, amounts owed by Bristol-Myers Squibb to us, net of amounts reimbursable to Bristol-Myers Squibb by us for the development of cabozantinib and XL281, were recorded as collaboration reimbursement revenues. Conversely, research and development expenses would include the net settlement of amounts we owed Bristol-Myers Squibb for research and development expenses that Bristol-Myers Squibb incurred in connection with the development of cabozantinib, less amounts reimbursable to us by Bristol-Myers Squibb for the development of both cabozantinib and XL281. On July 8, 2011, we received written notification from Bristol-Myers Squibb of its decision to terminate the 2008 Agreement in its entirety. Due to this termination, which became effective on October 8, 2011, for the year ended December 31, 2011, reimbursement payments were presented as collaboration reimbursement revenues. We do not expect to record any further collaboration cost-sharing expense or collaboration reimbursement revenues under our current collaborations. See Note 2 for further information on our 2008 cancer collaboration with Bristol-Myers Squibb.

Net Income (Loss) Per Share

Net Income (Loss) Per Share

The following table sets forth a reconciliation of basic and diluted net income (loss) per share (in thousands, except per share amounts):


	Year Ended December 31,
	2011		2010			2009
Numerator:
Net income (loss)	$	75,697	$	(92,330	)	$	(135,220	)

Denominator:
Shares used in computing basic income (loss) per share amounts		126,018		108,522			107,073

Add effect of dilutive securities:
Shares issuable upon the exercise of outstanding stock options		2,064		—			—
Shares issuable pursuant to the issuance of vested RSUs		515		—			—
Shares issuable pursuant to the exercise of warrants		1,858		—			—
Shares issuable upon the purchase of ESPP		24		—			—

Shares used in computing diluted net income (loss) per common share		4,461		—			—
Shares used in computing diluted income (loss) per share amounts		130,479		108,522			107,073

Net income (loss) per share, basic	$	0.60	$	(0.85	)	$	(1.26	)

Net income (loss) per share, diluted	$	0.58	$	(0.85	)	$	(1.26	)


	2011(1)		2010		2009
Restricted stock units and options to purchase common stock		9,085,043		21,802,461		27,072,822
Conversion of loans		—		6,725,296		10,277,428
Warrants		—		2,250,000		3,000,000

		9,085,043		30,777,757		40,350,250

(1)	The Treasury Stock method was used to calculate the dilutive and excluded antidilutive share totals for the year ended December 31, 2011.

Foreign Currency Translation And Remeasurement

Foreign Currency Translation and Remeasurement

Stock-Based Compensation

Stock-Based Compensation

We have employee and director stock option plans that are more fully described in Note 9.

Need To Raise Additional Capital

Need to Raise Additional Capital

Organization And Summary Of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2011

Dec. 31, 2010

Organization And Summary Of Significant Accounting Policies [Abstract]

Schedule Of Available-For-Sale Securities Included In Cash And Cash Equivalents And Restricted Cash And Investments


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Money market funds	$	81,986	$	—	$	—		$	81,986
Commercial paper		29,079		2		(1	)		29,080
Corporate bonds		116,068		22		(169	)		115,921
U.S. Government sponsored enterprises		37,237		12		—			37,249
Municipal bonds		19,488		—		(3	)		19,485

Total	$	283,858	$	36	$	(173	)	$	283,721


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
As reported:
Cash equivalents	$	74,256	$	1	$	—		$	74,257
Marketable securities		120,143		35		(173	)		120,005
Restricted cash and investments		4,199		—		—			4,199
Long-term investments		85,260		—		—			85,260

Total	$	283,858	$	36	$	(173	)	$	283,721


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Money market funds	$	171,048	$	—	$	—		$	171,048
Commercial paper		19,283		—		—			19,283
Corporate bonds		36,869		18		(10	)		36,877
U.S. Government sponsored enterprises		18,811		5		—			18,816
Municipal bonds		10,913		—		(1	)		10,912

Total	$	256,924	$	23	$	(11	)	$	256,936


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
As reported:
Cash equivalents	$	98,001	$	—	$	(2	)	$	97,999
Marketable securities		65,210		23		(9	)		65,224
Restricted cash and investments		6,399		—		—			6,399
Long-term investments		87,314		—		—			87,314

Total	$	256,924	$	23	$	(11	)	$	256,936

Schedule Of Fair Value Of Financial Assets Measured On A Recurring Basis


	Level 1		Level 2		Level 3		Total
Money market funds	$	81,986	$	—	$	—	$	81,986
Commercial paper		—		29,080		—		29,080
Corporate bonds		—		115,921		—		115,921
U.S. Government sponsored enterprises		—		37,249		—		37,249
Municipal bonds and variable rate demand notes		—		19,485		—		19,485

Total	$	81,986	$	201,735	$	—	$	283,721


	Level 1		Level 2			Level 3		Total
Money market funds	$	171,048	$	—		$	—	$	171,048
Commercial paper		—		19,283			—		19,283
Corporate bonds		—		36,877			—		36,877
U.S. Government sponsored enterprises		—		18,816			—		18,816
Municipal bonds		—		10,912			—		10,912
Foreign currency forward contract		—		(156	)		—		(156	)

Total	$	171,048	$	85,732		$	—	$	256,780

Schedule Of Estimated Fair Value Of Outstanding Debt


	December 31, 2011		December 31, 2010
GlaxoSmithKline loan	$	—	$	26,693
Equipment lines of credit		10,066		16,064
Silicon Valley Bank loan		77,835		77,480

Total	$	87,901	$	120,237

Estimated Useful Lives Of Property Plant And Equipment


Equipment and furniture			5 years
Computer equipment and software			3 years
Leasehold improvements			Shorter of lease life or 7 years

Schedule Of Revenues Recognized Under Collaboration Agreements


Collaborator	2011			2010			2009
Bristol-Myers Squibb		59	%		50	%		54	%
Sanofi		39	%		42	%		31	%

Schedule Of Reconciliation Of Basic And Diluted Net Income (Loss) Per Share


	Year Ended December 31,
	2011		2010			2009
Numerator:
Net income (loss)	$	75,697	$	(92,330	)	$	(135,220	)

Denominator:
Shares used in computing basic income (loss) per share amounts		126,018		108,522			107,073

Add effect of dilutive securities:
Shares issuable upon the exercise of outstanding stock options		2,064		—			—
Shares issuable pursuant to the issuance of vested RSUs		515		—			—
Shares issuable pursuant to the exercise of warrants		1,858		—			—
Shares issuable upon the purchase of ESPP		24		—			—

Shares used in computing diluted net income (loss) per common share		4,461		—			—
Shares used in computing diluted income (loss) per share amounts		130,479		108,522			107,073

Net income (loss) per share, basic	$	0.60	$	(0.85	)	$	(1.26	)

Net income (loss) per share, diluted	$	0.58	$	(0.85	)	$	(1.26	)

Schedule Of Potential Shares Of Common Stock Not Included In Computation Of Diluted Net Loss Per Share


	2011(1)		2010		2009
Restricted stock units and options to purchase common stock		9,085,043		21,802,461		27,072,822
Conversion of loans		—		6,725,296		10,277,428
Warrants		—		2,250,000		3,000,000

		9,085,043		30,777,757		40,350,250

(1)	The Treasury Stock method was used to calculate the dilutive and excluded antidilutive share totals for the year ended December 31, 2011.

- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References + Details

- Definition

Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

+ References + Details

Research And Collaboration Agreements (Tables)

12 Months Ended

Dec. 31, 2011

Research And Collaboration Agreements [Abstract]

Schedule Of Amounts Attributable To Programs Under 2008 Agreement


	Year Ended December 31,
	2011		2010		2009
Exelixis research and development expenses(1)	$	2,598	$	41,877	$	52,148
Net amount due from (owed to) collaboration partner	$	2,778	$	27,411	$	(4,582	)

(1)	Total research and development expenses attributable to us include direct third party expenditures plus estimated internal personnel costs are calculated in accordance with the terms of the particular collaboration.

Restructurings (Tables)

12 Months Ended

Dec. 31, 2011

Restructurings [Abstract]

Schedule Of Outstanding Restructuring Liability


	Employee Severance And Other Benefits			Facility Charges			Asset Impairment			Legal and Other Fees			Total
Ending accrual balance as of December 31, 2010	$	5,523		$	8,688		$	—		$	70		$	14,281
Restructuring charge		2,566			8,480			(907	)		(3	)		10,136
Cash payments		(7,366	)		(3,469	)		—			(16	)		(10,851	)
Adjustments or non-cash credits including stock compensation expense		(717	)		222			(619	)		—			(1,114	)
Proceeds from sale of assets		—			—			1,526			—			1,526

Ending accrual balance as of December 31, 2011	$	6		$	13,921		$	—		$	51		$	13,978

Property And Equipment (Tables)

12 Months Ended

Dec. 31, 2011

Property And Equipment [Abstract]

Schedule Of Property And Equipment


	December 31,
	2011			2010
Laboratory equipment	$	28,795		$	43,356
Computer equipment and software		11,743			20,163
Furniture and fixtures		3,230			4,772
Leasehold improvements		15,961			21,993
Construction-in-progress		155			373

		59,884			90,657
Less accumulated depreciation and amortization		(51,378	)		(74,846	)

	$	8,506		$	15,811

Debt (Tables)

12 Months Ended

Dec. 31, 2011

Debt [Abstract]

Schedule Of Debt


	December 31,
	2011			2010
GlaxoSmithKline convertible loans	$	—		$	28,900
Bank equipment lines of credit		10,130			16,162
Silicon Valley Bank Term Loan		80,000			80,000
Deerfield notes		91,385			83,396

		181,515			208,458
Less: current portion		(4,870	)		(37,748	)

Long-term debt	$	176,645		$	170,710

Schedule Of Future Principal Payments Of Total Long-Term Debt


Year Ending December 31,(1)
2012	$	4,870
2013		30,670
2014		29,262
2015		69,328
2016		—
Thereafter		80,000

		214,130
Less current portion		(4,870	)

	$	209,260

(1)	Amounts include principal payments associated with the accretion of the Deerfield financing and assumes the maximum earliest possible payments that could be required to be made under the agreement terms. The actual timing of payments made may differ materially.

Common Stock And Warrants (Tables)

12 Months Ended

Dec. 31, 2011

Common Stock And Warrants [Abstract]

Schedule Of Warrants To Purchase Common Stock Outstanding And Exercisable


Date Issued	Exercise Price per Share		Expiration Date		Number of Shares
June 4, 2008	$	7.40		June 4, 2014		1,000,000
June 10, 2009	$	6.05		June 10, 2014		441,215

						1,441,215

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References + Details

Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2011

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule Of Allocated Employee Stock-Based Compensation Expense


	Year Ended December 31, 2011		Year Ended December 31, 2010		Year Ended December 31, 2009
Research and development expense	$	5,935	$	11,535	$	15,708
General and administrative expense		5,459		7,931		7,109
Restructuring-related stock compensation expense		625		1,505		—

Total employee stock-based compensation expense	$	12,019	$	20,971	$	22,817

Schedule Of Fair Value Of Employee Share-Based Payments Awards Stock Option Assumptions And Weighted Average Fair Values


	Stock Options
	2011			2010			2009(1)
Weighted average grant-date fair value	$	3.5		$	3.60		$	3.61
Risk-free interest rate		1.07	%		2.25	%		2.25	%
Dividend yield		0	%		0	%		0	%
Volatility		70	%		70	%		65	%
Expected life		5.5 years			5.2 years			5.4 years

Schedule Of Fair Value Of Employee Share-Based Payments Awards ESPP Assumptions And Weighted Average Fair Values



	ESPP
	2011			2010			2009
Weighted average grant-date fair value	$	2.85		$	1.87		$	1.70
Risk-free interest rate		0.11	%		0.21	%		0.18	%
Dividend yield		0	%		0	%		0	%
Volatility		68	%		68	%		64	%
Expected life		6 months			6 months			2.6 months

(1)	These exclude the assumptions used to estimate the fair value of the options granted under the stock option exchange program as discussed below.

Summary Of All Stock Option Activity


	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value
Options outstanding at December 31, 2008		24,141,186		$	9.67
Granted		12,180,734			5.93
Exercised		(59,763	)		4.57
Cancelled		(11,868,559	)		10.39

Options outstanding at December 31, 2009		24,393,598		$	7.46
Granted		243,500			6.28
Exercised		(495,098	)		5.42
Cancelled		(4,511,970	)		7.35

Options outstanding at December 31, 2010		19,630,030		$	7.52
Granted		2,545,625			5.86
Exercised		(2,161,804	)		5.75
Cancelled		(2,577,473	)		9.79

Options outstanding at December 31, 2011		17,436,378		$	7.16		4.92 years	$	216,760

Exercisable at December 31, 2011		13,319,848		$	7.54		4.31 years	$	166,966

Summary Of Information About Stock Options Outstanding


	Options Outstanding						Options Outstanding and Exercisable
Exercise Price Range	Number		Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price		Number of Exercisable		Weighted Average Exercise Price
$3.05 - $ 5.47		1,775,716		6.71	$	4.87		1,164,344	$	4.77
$5.50		2,140,059		6.74		5.50		0		0.00
$5.61		21,553		7.63		5.61		11,761		5.61
$5.63		3,329,797		3.72		5.63		3,082,881		5.63
$5.64 - $ 7.05		1,827,969		3.60		6.35		1,642,264		6.38
$7.12 - $ 7.51		2,141,795		6.55		7.28		1,289,960		7.26
$7.56 - $ 8.90		2,696,347		3.37		8.69		2,687,996		8.69
$8.92 - $ 9.50		1,764,871		4.11		9.00		1,764,871		9.00
$9.53 - $15.70		1,737,271		4.92		10.94		1,674,771		10.92
$16.62		1,000		0.00		16.62		1,000		16.62

		17,436,378		4.89	$	7.16		13,319,848	$	7.54

Summary Of All RSU Activity


	Shares			Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value
RSUs outstanding at December 31, 2010		2,172,431		$	7.31
Awarded		356,498			6.17
Released		(648,437	)		7.43
Forfeited		(488,801	)		7.45

Awards outstanding at December 31, 2011		1,391,691		$	6.92		1.48 years	$	6,589,665

Replacement Options [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule Of Fair Value Of Employee Share-Based Payments Awards Stock Option Assumptions And Weighted Average Fair Values


Weighted average fair value of awards	$	2.82
Risk-free interest rate		2.1	%
Dividend yield		0	%
Volatility		67	%
Expected life		3.7 years

- Definition

Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

+ References + Details

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2011

Income Taxes [Abstract]

Schedule Of Consolidated Net Income (Loss)


	Year Ended December 31,
	2011		2010			2009
Domestic	$	76,992	$	(92,402	)	$	(140,843	)
Foreign		—		—			—

Total	$	76,992	$	(92,402	)	$	(140,843	)

Schedule Of Reconciliation Of Income Taxes At The Statutory Federal Income Tax Rate To Net Income Taxes


	Year Ended December 31,
	2011			2010			2009
U.S. federal taxes (benefit) at statutory rate	$	26,177		$	(31,417	)	$	(47,886	)
Unutilized net operating losses		(29,650	)		29,636			42,954
Non-Deductable Interest		2,809			—			—
Stock based compensation		627			1,709			2,641
State Tax Expense		660			—			—
Other		36			72			2,291
Refundable Tax Credit		636			(72	)		(1,286	)

Total	$	1,295		$	(72	)	$	(1,286	)

Schedule Of Deferred Assets And Liabilities


	December 31,
	2011			2010 Revised(1)
Deferred tax assets:
Net operating loss carryforwards(1)	$	318,638		$	273,395
Tax credit carryforwards		54,726			70,566
Capitalized research and development costs		805			1,836
Deferred revenue(1)		18,400			97,935
Accruals and reserves not currently deductible		6,522			7,087
Book over tax depreciation		6,543			7,251
Amortization of deferred stock compensation – non-qualified		25,865			23,145

Total deferred tax assets		431,499			481,215
Valuation allowance		(431,499	)		(481,215	)

Net deferred tax assets		—			—
Deferred tax liabilities:

Net deferred taxes	$	—		$	—

(1)

Schedule Of Unrecognized Tax Benefits


	Year Ended December 31, 2011
Balance at January 1, 2011	$	46,381
Decrease relating to prior year provision		(9,782	)
Increase relating to current year provision		2,711

Ending Balance at December 31, 2011	$	39,310

Commitments (Tables)

12 Months Ended

Dec. 31, 2011

Commitments [Abstract]

Schedule Of Aggregate Future Minimum Lease Payments Under Operating Leases


Year Ending December 31,	Operating Leases(1)
2012	$	19,397
2013		19,130
2014		19,539
2015		19,831
2016		16,431
Thereafter		11,910

	$	106,238

(1)	Minimum payments have not been reduced by minimum sublease rentals of $18.7 million due in the future under noncancelable subleases.

Schedule Of Aggregate Future Minimum Lease Payments Under Operating Leases By Material Lease Agreements

Original
Term
(Expiration)

Renewal Option

Future
Minimum
Lease
Payment

Building Lease #1&2

May 2017

2 additional periods of 5 years

60,428

Building Lease #3

July 2018

1additional period of 5 years

29,586

Building Lease #4

December 2015

1additional period of 3 years

16,224

Total

106,238

Quarterly Financial Data (Tables)

12 Months Ended

Dec. 31, 2011

Quarterly Financial Data [Abstract]

Schedule Of Quarterly Financial Data


	2011 Quarter Ended
		March 31,			June 30,			September 30,		December 31,
Total revenues		$	35,893		$	32,162		$	128,272	$	94,309
Income (loss) from operations			(23,730	)		(18,008	)		79,699		51,574
Net income (loss) attributable to Exelixis, Inc.			(27,490	)		(20,975	)		77,865		46,297
Basic net income (loss) per share, attributable to Exelixis, Inc.		$	(0.24	)	$	(0.16	)	$	0.60	$	.35
Diluted net income (loss) per share, attributable to Exelixis, Inc.		$	(0.24	)	$	(0.16	)	$	0.59	$	.35



	2010 Quarter Ended
	March 31,(1,4)			June 30,(2,4)			September 30,			December 31,(3)
Total revenues	$	42,199		$	47,596		$	54,474		$	40,776
Loss from operations		(47,452	)		(25,631	)		(4,205	)		(14,109	)
Net loss attributable to Exelixis, Inc.		(43,249	)		(22,614	)		(8,603	)		(17,864	)
Basic and diluted net loss per share, attributable to Exelixis, Inc.	$	(0.40	)	$	(0.21	)	$	(0.08	)	$	(0.16	)

(1)

(2)

(3)

(4)

Organization And Summary Of Significant Accounting Policies (Narrative) (Details) - USD ($)
$ / shares in Units, $ in Thousands

1 Months Ended

3 Months Ended

12 Months Ended

Oct. 27, 2011

Feb. 29, 2012

Dec. 31, 2011

Mar. 31, 2011

Dec. 31, 2011

Sep. 30, 2011

Jun. 30, 2011

Mar. 31, 2011

Dec. 31, 2010

^[2]

Sep. 30, 2010

Jun. 30, 2010

^[3],[4]

Mar. 31, 2010

^[3],[5]

Dec. 31, 2011

Dec. 31, 2010

Dec. 31, 2009

Mar. 30, 2011

Organization And Summary Of Significant Policies [Line Items]

Foreign currency forward contract, notional amount

$ 7,000

Received from French taxing authority relating to our 2009 Sanofi Collaboration Agreement

$ 7,000

Cash receipt from foreign currency forward contracts

6,700

Losses on fair values of the foreign currency forward contracts held

300

Book value of debt outstanding

^[1]

214,130

Per share value of shares issued for repayment of loan

$ 6.66

Number of shares issued for repayment of loan

5,537,906

Issuance of common stock for settlement of convertible loan, including accrued interest

36,895

Value of amount paid off in accrued interest

$ 8,000

Amount written-down for property and equipment

500

$ 3,200

Proceeds from sale of assets

1,700

Amount of reduction relating to prior periods

1,600

900

Net income position

46,297

$ 77,865

$ (20,975)

$ (27,490)

$ (17,864)

$ (8,603)

$ (22,614)

$ (43,249)

75,697

$ (92,330)

$ (135,220)

Proceeds from issuance of stock, net of offering costs

$ 65,000

$ 179,400

$ 179,375

United States [Member]

Organization And Summary Of Significant Policies [Line Items]

Percentage of geographic revenue over total revenue

100.00%

2010 And 2011 Restructuring Plans [Member]

Organization And Summary Of Significant Policies [Line Items]

Amount written-down for property and equipment

$ 500

$ 3,200

Proceeds from sale of assets

$ 1,700

[1]	Amounts include principal payments associated with the accretion of the Deerfield financing and assumes the maximum earliest possible payments that could be required to be made under the agreement terms. The actual timing of payments made may differ materially.
[2]	In connection with the December 2010 restructuring plan, we recorded a charge of approximately $6.9 million in the fourth quarter of 2010 primarily related to termination benefits, which includes the modification of certain stock option awards previously granted to the terminated employees. The modification allows employees who were terminated under the plan to exercise their options until September 2011. The remainder of the charge was for the impairment of various assets relating to idle equipment in our South San Francisco location.
[3]	In the second quarter of 2009, we signed an amendment to our arrangement with Agrigenetics for which we received $1.8 million in July 2009. We received additional payments of $2.7 million and $4.5 million in March 2010 and May 2010 respectively and recognized these as additional gains in other income.
[4]	We recorded further restructuring expenses of approximately $9.4 million during the second quarter of 2010 associated primarily with lease-exit costs in connection with the sublease and exit of our South San Francisco building, partially offset by a reduction in termination benefits following the recall of certain employees that were originally terminated under the restructuring plan and the continued delay in the termination of a small group of employees impacted by the restructuring plan.
[5]	In connection with the March 2010 restructuring plan, we recorded a charge of approximately $16.1 million in the first quarter of 2010 primarily related to termination benefits, which includes the modification of certain stock option awards previously granted to the terminated employees. The modification accelerates the vesting of any stock options that would have vested over the period beginning from cessation of employment through August 5, 2010. Employees who were terminated in March also received an additional two months to exercise their options, for which a small charge was taken. The remainder of the charge was for the impairment of various assets and for non-cash charges relating to the closure of our facility in San Diego, California.

Organization And Summary Of Significant Accounting Policies (Schedule Of Available-For-Sale Securities Included In Cash And Cash Equivalents And Restricted Cash And Investments) (Details) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, Amortized Cost	$ 283,858	$ 256,924
Available-for-sale securities, Gross Unrealized Gains	36	23
Available-for-sale securities, Gross Unrealized Losses	(173)	(11)
Available-for-sale securities, Fair Value	283,721	256,936
Money Market Funds [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, Amortized Cost	81,986	171,048
Available-for-sale securities, Fair Value	81,986	171,048
Commercial Paper [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, Amortized Cost	29,079	19,283
Available-for-sale securities, Gross Unrealized Gains	2
Available-for-sale securities, Gross Unrealized Losses	(1)
Available-for-sale securities, Fair Value	29,080	19,283
Corporate Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, Amortized Cost	116,068	36,869
Available-for-sale securities, Gross Unrealized Gains	22	18
Available-for-sale securities, Gross Unrealized Losses	(169)	(10)
Available-for-sale securities, Fair Value	115,921	36,877
U.S. Government Sponsored Enterprises [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, Amortized Cost	37,237	18,811
Available-for-sale securities, Gross Unrealized Gains	12	5
Available-for-sale securities, Fair Value	37,249	18,816
Municipal Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, Amortized Cost	19,488	10,913
Available-for-sale securities, Gross Unrealized Losses	(3)	(1)
Available-for-sale securities, Fair Value	19,485	10,912
Cash Equivalents [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, Amortized Cost	74,256	98,001
Available-for-sale securities, Gross Unrealized Gains	1
Available-for-sale securities, Gross Unrealized Losses		(2)
Available-for-sale securities, Fair Value	74,257	97,999
Marketable Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, Amortized Cost	120,143	65,210
Available-for-sale securities, Gross Unrealized Gains	35	23
Available-for-sale securities, Gross Unrealized Losses	(173)	(9)
Available-for-sale securities, Fair Value	120,005	65,224
Restricted Cash And Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, Amortized Cost	4,199	6,399
Available-for-sale securities, Fair Value	4,199	6,399
Long-Term Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale securities, Amortized Cost	85,260	87,314
Available-for-sale securities, Fair Value	$ 85,260	$ 87,314

Organization And Summary Of Significant Accounting Policies (Schedule Of Estimated Fair Value Of Outstanding Debt) (Details) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010
Debt Instrument [Line Items]
Fair value of outstanding debt	$ 87,901	$ 120,237
Glaxo SmithKline Loan [Member]
Debt Instrument [Line Items]
Fair value of outstanding debt		26,693
Equipment Lines Of Credit [Member]
Debt Instrument [Line Items]
Fair value of outstanding debt	10,066	16,064
Silicon Valley Bank Loan [Member]
Debt Instrument [Line Items]
Fair value of outstanding debt	$ 77,835	$ 77,480

Organization And Summary Of Significant Accounting Policies (Estimated Useful Lives Of Property Plant And Equipment) (Details)	12 Months Ended
	Dec. 31, 2011
Equipment And Furniture [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives, years	5 years
Computer Equipment And Software [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives, years	3 years
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives, years	Shorter of lease life or 7 years

Organization And Summary Of Significant Accounting Policies (Schedule Of Revenues Recognized Under Collaboration Agreements) (Details)	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Bristol-Myers Squibb [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Percent of revenue by collaborator over total revenue	59.00%	50.00%	54.00%
Sanofi [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Percent of revenue by collaborator over total revenue	39.00%	42.00%	31.00%

Organization And Summary Of Significant Accounting Policies (Schedule Of Reconciliation Of Basic And Diluted Net Income (Loss) Per Share) (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2011

Sep. 30, 2011

Jun. 30, 2011

Mar. 31, 2011

Dec. 31, 2010

^[1]

Sep. 30, 2010

Jun. 30, 2010

^[2],[3]

Mar. 31, 2010

^[2],[4]

Dec. 31, 2011

Dec. 31, 2010

Dec. 31, 2009

Organization And Summary Of Significant Policies [Line Items]

Net income (loss)

$ 46,297

$ 77,865

$ (20,975)

$ (27,490)

$ (17,864)

$ (8,603)

$ (22,614)

$ (43,249)

$ 75,697

$ (92,330)

$ (135,220)

Shares used in computing basic income (loss) per share amounts

126,018

108,522

107,073

Shares issuable pursuant to the exercise of warrants

1,858

Shares issuable upon the purchase of ESPP

Shares used in computing diluted net income (loss) per common share

4,461

Shares used in computing diluted income (loss) per share amounts

130,479

108,522

107,073

Net income (loss) per share, basic

$ 0.35

$ 0.60

$ (0.16)

$ (0.24)

$ 0.60

$ (0.85)

$ (1.26)

Net income (loss) per share, diluted

$ 0.35

$ 0.59

$ (0.16)

$ (0.24)

$ 0.58

$ (0.85)

$ (1.26)

Stock Options [Member]

Organization And Summary Of Significant Policies [Line Items]

Shares issuable upon the exercise of outstanding stock options

2,064

Restricted Stock Units (RSUs) [Member]

Organization And Summary Of Significant Policies [Line Items]

Shares issuable upon the exercise of outstanding stock options

515

[1]	In connection with the December 2010 restructuring plan, we recorded a charge of approximately $6.9 million in the fourth quarter of 2010 primarily related to termination benefits, which includes the modification of certain stock option awards previously granted to the terminated employees. The modification allows employees who were terminated under the plan to exercise their options until September 2011. The remainder of the charge was for the impairment of various assets relating to idle equipment in our South San Francisco location.
[2]	In the second quarter of 2009, we signed an amendment to our arrangement with Agrigenetics for which we received $1.8 million in July 2009. We received additional payments of $2.7 million and $4.5 million in March 2010 and May 2010 respectively and recognized these as additional gains in other income.
[3]	We recorded further restructuring expenses of approximately $9.4 million during the second quarter of 2010 associated primarily with lease-exit costs in connection with the sublease and exit of our South San Francisco building, partially offset by a reduction in termination benefits following the recall of certain employees that were originally terminated under the restructuring plan and the continued delay in the termination of a small group of employees impacted by the restructuring plan.
[4]	In connection with the March 2010 restructuring plan, we recorded a charge of approximately $16.1 million in the first quarter of 2010 primarily related to termination benefits, which includes the modification of certain stock option awards previously granted to the terminated employees. The modification accelerates the vesting of any stock options that would have vested over the period beginning from cessation of employment through August 5, 2010. Employees who were terminated in March also received an additional two months to exercise their options, for which a small charge was taken. The remainder of the charge was for the impairment of various assets and for non-cash charges relating to the closure of our facility in San Diego, California.

Organization And Summary Of Significant Accounting Policies (Schedule Of Potential Shares Of Common Stock Not Included In Computation Of Diluted Net Loss Per Share) (Details) - shares

12 Months Ended

Dec. 31, 2011

^[1]

Dec. 31, 2010

Dec. 31, 2009

Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]

Potential shares of common stock not included in computation of diluted net loss per share

9,085,043

30,777,757

40,350,250

Restricted Stock Units And Options To Purchase Common Stock [Member]

Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]

Potential shares of common stock not included in computation of diluted net loss per share

9,085,043

21,802,461

27,072,822

Conversion Of Loans [Member]

Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]

Potential shares of common stock not included in computation of diluted net loss per share

6,725,296

10,277,428

Warrants [Member]

Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]

Potential shares of common stock not included in computation of diluted net loss per share

2,250,000

3,000,000

[1]	The Treasury Stock method was used to calculate the dilutive and excluded antidilutive share totals for the year ended December 31, 2011.

- Definition

Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 13, 14
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 171
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 40
-Subparagraph c
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Diluted Earnings Per Share
-URI http://asc.fasb.org/extlink&oid=6510752

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Contingent Stock Agreement
-URI http://asc.fasb.org/extlink&oid=6508534

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Antidilution
-URI http://asc.fasb.org/extlink&oid=6505113

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 07-4
-Paragraph 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Research And Collaboration Agreements (Merck To Bristol-Myers Squibb) (Narrative1) (Details) $ / shares in Units, $ in Millions			1 Months Ended										3 Months Ended	12 Months Ended
	Jul. 07, 2009	Jun. 18, 2008 USD ($)	Jan. 19, 2012 USD ($)	Jul. 31, 2011 USD ($)	Nov. 30, 2010 USD ($)	Jan. 31, 2010 USD ($)	Jan. 31, 2009 USD ($)	Dec. 31, 2008 USD ($)	Feb. 29, 2008 USD ($)	Dec. 31, 2007 USD ($)	Jan. 31, 2007 USD ($)	May 31, 2005 USD ($)	Dec. 31, 2011 USD ($) $ / shares	Dec. 31, 2011 USD ($) $ / shares	Dec. 31, 2009 USD ($)
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Number of business days with in which proceeds made from termination of agreement														10
Merck [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Upfront cash payment			$ 12.0
Potential development and regulatory milestone payments														$ 239.0
Sanofi [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Proceeds from termination of agreement														15.3
Deferred revenue													$ 53.1	53.1
Deferred revenue per share, Basic \| $ / shares													$ 0.42
Deferred revenue per share, Diluted \| $ / shares													$ 0.41
Deferred revenue recognized													$ 73.6
Original research term, years	3
Extended research term, years	1
TGR5 License Agreement [Member] \| Bristol-Myers Squibb [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Upfront cash payment					$ 35.0
Maximum amount eligible for development and regulatory milestones					250.0
Maximum amount eligible for commercial milestones under collaborations agreement					150.0
Aggregate license revenue														13.6
ROR Collaboration Agreement [Member] \| Bristol-Myers Squibb [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Upfront cash payment					5.0
Maximum amount eligible for development and regulatory milestones					255.0
Maximum amount eligible for commercial milestones under collaborations agreement					150.0
License and contract revenues														3.1
Income from development milestone				$ 2.5
2008 Cancer Collaboration [Member] \| Bristol-Myers Squibb [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Upfront cash payment								$ 195.0
Maximum amount eligible for development and regulatory milestones		$ 315.0
Additional license payments															$ 45.0
Maximum amount eligible for sales performance milestones		$ 150.0
Deferred revenue													$ 99.1	$ 99.1
Deferred revenue per share, Basic \| $ / shares														$ 0.79
Deferred revenue per share, Diluted \| $ / shares														$ 0.76
2007 Cancer Collaboration [Member] \| Bristol-Myers Squibb [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Upfront cash payment											$ 60.0
Selected milestone earnings entitled and received								$ 20.0	$ 20.0
Collaboration agreement opt-out consideration payment					$ 20.0
Cancer Collaboration [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Research and development fund												$ 16.0
Number of years for initial research												3
LXR Collaboration [Member] \| Bristol-Myers Squibb [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Upfront cash payment														$ 17.5
Maximum amount eligible for development and regulatory milestones														138.0
Research and development fund														$ 10.0
Number of years for initial research														2
Additional research fund						$ 5.8	$ 7.7
Income from development milestone										$ 5.0

Research And Collaboration Agreements (Genentech To Daiichi Sankyo) (Narrative2) (Details) $ / shares in Units, $ in Millions					1 Months Ended											3 Months Ended	12 Months Ended
	Oct. 27, 2011 USD ($) $ / shares shares	Oct. 27, 2011 $ / shares shares	Jun. 30, 2010	May 07, 2009 USD ($)	Jun. 30, 2011 USD ($)	Dec. 31, 2010 USD ($) shares	Mar. 31, 2010 USD ($)	Jul. 31, 2008	Mar. 31, 2008 USD ($)	Jun. 30, 2007 USD ($)	Jan. 31, 2007 USD ($)	Dec. 31, 2006 USD ($)	Mar. 31, 2006 USD ($)	May 31, 2005 USD ($)	Oct. 31, 2002 USD ($)	Dec. 31, 2008 USD ($) $ / shares	Dec. 31, 2011 USD ($) shares
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Purchase an aggregate shares of common stock \| shares						109,287,160											135,563,735
Genentech [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Upfront and milestone payments											$ 15.0	$ 25.0
Milestone payment							$ 7.0
Payment to use exercise of option related to co-development agreement									$ 3.0
Additional milestone received							$ 7.0
Glaxo SmithKline [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Upfront and milestone payments															$ 65.0
Research and development funding and loans															$ 85.0
Total revenue increased due to deferred revenue recognized																$ 18.5
Total revenue increased due to deferred revenue recognized per share \| $ / shares																$ 0.17
Percent of royalty on net sales								3.00%
Interest rate on loan from related party		4.00%
Purchase an aggregate shares of common stock \| shares	5,537,906.00	5,537,906.00
Shares repayment price \| $ / shares	$ 6.66	$ 6.66
Repayment of loan from agreement	$ 36.9
Repayment of accrued interest from agreement	$ 8.0
Boehringer Ingelheim [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Original research term, months/years				11
Original research term, years				11
Extended research term, months/years			23
Extended research term, years			23
Upfront cash payment				$ 15.0
Potential development and regulatory milestone payments																	$ 339.0
Daiichi Sankyo [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Original research term, months/years													15
Original research term, years													15
Extended research term, months/years										6
Extended research term, years										6
Milestone payment						$ 5.0
Upfront cash payment													$ 20.0
Research and development fund										$ 1.5			$ 3.8
Cancer Collaboration [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Number of years for initial research														3
Research and development fund														$ 16.0
Additional milestone received					$ 2.0

Research And Collaboration Agreements (Schedule Of Amounts Attributable To Programs Under 2008 Agreement) (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2011

Dec. 31, 2010

Dec. 31, 2009

Research And Collaboration Agreements [Abstract]

Exelixis research and development expenses

^[1]

$ 2,598

$ 41,877

$ 52,148

Net amount due from (owed to) collaboration partner

$ 2,778

$ 27,411

$ (4,582)

[1]	Total research and development expenses attributable to us include direct third party expenditures plus estimated internal personnel costs are calculated in accordance with the terms of the particular collaboration.

Dispositions (Details) $ in Millions	Nov. 20, 2011 USD ($)	Sep. 27, 2011	Sep. 27, 2011 USD ($)
Dispositions [Abstract]
Cash received for sale of shares in subsidiary	$ 19.8		$ 3.0
Outstanding share capital of wholly-owned subsidiary sold	80.10%
Minority interest		19.90%	19.90%
Gain recognized			$ 2.3
Payment for interest, maximum		90

Restructurings (Narrative) (Details) $ in Thousands	3 Months Ended			12 Months Ended
Restructurings (Narrative) (Details) $ in Thousands	Dec. 31, 2010 USD ($)	Jun. 30, 2010 USD ($)	Mar. 31, 2010 USD ($)	Dec. 31, 2011 USD ($) employees	Dec. 31, 2010 USD ($) employees
Restructuring Cost and Reserve [Line Items]
Overall reduction of employees \| employees					386
Aggregate reduction in headcount \| employees				402
Aggregate restructuring charges	$ 6,900	$ 9,400	$ 16,100	$ 10,136	$ 32,744
Proceeds from sale of assets				1,700
Restructuring reserve to be settled with cash				15,900
Aggregate cash expenditures				10,851
Aggregate cash expenditures, auction proceeds				1,700
Aggregate cash expenditures paid				9,300	$ 14,100
Termination Benefits [Member]
Restructuring Cost and Reserve [Line Items]
Aggregate restructuring charges				20,300
Facility Charges And Impairment Of Various Assets [Member]
Restructuring Cost and Reserve [Line Items]
Aggregate restructuring charges				22,600
2010 And 2011 Restructuring Plans [Member]
Restructuring Cost and Reserve [Line Items]
Aggregate restructuring charges				42,900
Asset impairment charges				3,700
Proceeds from sale of assets				1,700
Aggregate cash expenditures				23,400
South San Francisco Facilities [Member]
Restructuring Cost and Reserve [Line Items]
Expected additional payment for restructuring				$ 1,900

Restructurings (Schedule Of Outstanding Restructuring Liability) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010
Restructuring Cost and Reserve [Line Items]
Ending accrual balance as of December 31, 2010	$ 14,281
Restructuring charge	10,136
Cash payments	(10,851)
Adjustments or non-cash credits including stock compensation expense	(1,114)
Proceeds from sale of assets	1,526	$ 165
Ending accrual balance as of December 31, 2011	13,978	14,281
Employee Severance And Other Benefits [Member]
Restructuring Cost and Reserve [Line Items]
Ending accrual balance as of December 31, 2010	5,523
Restructuring charge	2,566
Cash payments	(7,366)
Adjustments or non-cash credits including stock compensation expense	(717)
Ending accrual balance as of December 31, 2011	6	5,523
Facility Charges [Member]
Restructuring Cost and Reserve [Line Items]
Ending accrual balance as of December 31, 2010	8,688
Restructuring charge	8,480
Cash payments	(3,469)
Adjustments or non-cash credits including stock compensation expense	222
Ending accrual balance as of December 31, 2011	13,921	8,688
Asset Impairment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charge	(907)
Adjustments or non-cash credits including stock compensation expense	(619)
Proceeds from sale of assets	1,526
Legal And Other Fees [Member]
Restructuring Cost and Reserve [Line Items]
Ending accrual balance as of December 31, 2010	70
Restructuring charge	(3)
Cash payments	(16)
Ending accrual balance as of December 31, 2011	$ 51	$ 70

Property And Equipment (Schedule Of Property And Equipment) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Property And Equipment [Abstract]
Laboratory equipment	$ 28,795	$ 43,356
Computer equipment and software	11,743	20,163
Furniture and fixtures	3,230	4,772
Leasehold improvements	15,961	21,993
Construction-in-progress	155	373
Property and equipment, gross	59,884	90,657
Less accumulated depreciation and amortization	(51,378)	(74,846)
Property and equipment, net	8,506	15,811
Depreciation expense	6,822	10,543	$ 12,595
Impairment charges	500	$ 3,200
Asset impairment charges, auction proceeds	$ 1,700

Deerfield Credit Facility (Details) $ / shares in Units, $ in Millions	1 Months Ended		12 Months Ended
	Nov. 30, 2009 USD ($)	Jun. 30, 2008 shares	Dec. 31, 2011 USD ($) years $ / shares shares	Jun. 04, 2008 USD ($)
Line of Credit Facility [Line Items]
Maturity period of warrants, year \| years			6
Deerfield Financing [Member]
Line of Credit Facility [Line Items]
Line of credit, borrowing capacity				$ 150.0
Interest expense	$ 5.2
One-time transaction fee			$ 3.8
Transaction fee percent			2.50%
Annual commitment fee			$ 3.4
Warrants to purchase aggregate shares of common stock \| shares		1,000,000	1,000,000
Exercise price of common stock per share \| $ / shares			$ 7.40
Value of warrants issued upon execution of the facility agreement			$ 3.4
Risk-free interest rate			3.41%
Expected life (in years) \| years			6
Volatility			62.00%
Dividend yield			0.00%

Debt (Narrative) (Details)			1 Months Ended								3 Months Ended		12 Months Ended	18 Months Ended
Debt (Narrative) (Details)	Jun. 30, 2010 USD ($)	Jun. 02, 2010 USD ($)	Aug. 31, 2011	Jun. 30, 2011 USD ($)	Dec. 31, 2010 USD ($)	Jun. 30, 2010 USD ($)	Dec. 31, 2009 USD ($) months	Jun. 30, 2008 USD ($)	Dec. 31, 2007 USD ($) months years	Dec. 31, 2004 USD ($)	Dec. 31, 2006 USD ($) months years	Dec. 31, 2004 USD ($) years	Dec. 31, 2011 USD ($)	Jun. 30, 2011 USD ($)
Silicon Valley Bank Loan And Security Agreement [Member]
Debt Instrument [Line Items]
Debt, interest rate			6.00%
Carrying value of the loan					$ 96,100,000								$ 90,100,000
Collateral balance					96,900,000								85,300,000
Line of credit, borrowing capacity										$ 16,000,000		$ 16,000,000
Secured Convertible Notes Due June 2015 [Member] \| Deerfield Financing [Member]
Debt Instrument [Line Items]
Debt, principal amount	$ 124,000,000					$ 124,000,000
Debt instruments, purchase price	80,000,000
Debt instrument, minimum purchase amount for prepayment condition													$ 400,000,000
Debt instruments, closing fees and expenses	2,000,000
Annual interest	$ 6,000,000
Percentage of revenues payable under collaborative arrangements in 2013, 2014 and 2015													15.00%
Maximum prepayment amount under collaborative arrangements in 2013 and 2014													$ 27,500,000
Minimum prepayment amount under collaborative arrangements													10,000,000
Minimum limit on prepayments													$ 5,000,000
Percentage of assets minimum for prepayment condition													50.00%
Balance of unamortized closing fees and expenses													$ 1,800,000
Carrying value of the loan													91,400,000
Equipment Line Of Credit December 2004 [Member] \| Silicon Valley Bank Loan And Security Agreement [Member]
Debt Instrument [Line Items]
Line of credit, additional borrowing										$ 20,000,000
Draw down period (in years) \| years											1	1
Annual rate of interest										0.70%
Equipment Line Of Credit December 2006 [Member] \| Silicon Valley Bank Loan And Security Agreement [Member]
Debt Instrument [Line Items]
Line of credit, additional borrowing											$ 25,000,000
Number of installments (in months) \| months											48
Annual rate of interest											0.85%
Prepayment penalty											1.00%
Percentage of collateral on outstanding obligations											100.00%
Outstanding obligation					2,900,000								$ 0
Equipment Line Of Credit December 2007 [Member] \| Silicon Valley Bank Loan And Security Agreement [Member]
Debt Instrument [Line Items]
Line of credit, borrowing capacity							$ 33,600,000
Line of credit, additional borrowing									$ 30,000,000
Draw down period (in years) \| years									2
Increase in draw down period (in months) \| months							18
Number of installments (in months) \| months									48
Annual rate of interest									0.75%
Percentage of collateral on outstanding obligations							100.00%
Minimum draws							$ 2,500,000
Minimum draws														$ 7,500,000
Draws on line of credit							$ 5,000,000	$ 13,600,000
Minimum draw down amount under facility				$ 2,500,000	$ 2,500,000	$ 2,500,000
Period of minimum draw (in months) \| months							6
Seven-Year Term Loan [Member] \| Silicon Valley Bank Loan And Security Agreement [Member]
Debt Instrument [Line Items]
Debt, principal amount		$ 80,000,000
Debt, interest rate		1.00%
Minimum percentage required for collateral balance			100
Maximum percentage required for collateral balance			107
Principal balance payable in balloon payment		100.00%
Percentage of security deposit on outstanding obligations		100.00%

Debt (Schedule Of Debt) (Details) - USD ($)
$ in Thousands

Dec. 31, 2011

Dec. 31, 2010

Debt [Abstract]

GlaxoSmithKline convertible loans

$ 28,900

Bank equipment lines of credit

$ 10,130

16,162

Silicon Valley Bank Term Loan

80,000

Deerfield notes

91,385

83,396

Long-term debt, including current portion

^[1]

214,130

Less: current portion

(4,870)

^[1]

(37,748)

Long-term debt

$ 176,645

$ 170,710

[1]	Amounts include principal payments associated with the accretion of the Deerfield financing and assumes the maximum earliest possible payments that could be required to be made under the agreement terms. The actual timing of payments made may differ materially.

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Debt (Schedule Of Future Principal Payments Of Total Long-Term Debt) (Details) - USD ($)
$ in Thousands

Dec. 31, 2011

Dec. 31, 2010

Debt [Abstract]

2012

^[1]

$ 4,870

2013

^[1]

30,670

2014

^[1]

29,262

2015

^[1]

69,328

2016

^[1]

Thereafter

^[1]

80,000

Long-term debt, including current portion

181,515

$ 208,458

Less current portion

(4,870)

^[1]

$ (37,748)

Long-term debt

^[1]

$ 209,260

[1]	Amounts include principal payments associated with the accretion of the Deerfield financing and assumes the maximum earliest possible payments that could be required to be made under the agreement terms. The actual timing of payments made may differ materially.

Common Stock And Warrants (Narrative) (Details) $ in Thousands	1 Months Ended					12 Months Ended
	Feb. 29, 2012 USD ($) shares	Mar. 31, 2011 USD ($) shares	Jun. 30, 2008 years shares	Jun. 30, 2006 years shares	Jun. 30, 2005 years shares	Dec. 31, 2011 USD ($) shares
Class of Warrant or Right [Line Items]
Public offering of common stock	12,700,000	17,300,000
Net proceeds from public offering \| $	$ 65,000	$ 179,400				$ 179,375
Warrants issued to Deerfield, exercise period (in years) \| years			6	5	5
Warrants transferred to other parties				750,000	750,000	1,441,215
Number of warrants granted						2,000,000
Issued On June 10, 2009 [Member]
Class of Warrant or Right [Line Items]
Warrants transferred to other parties						441,215
Deerfield Financing [Member]
Class of Warrant or Right [Line Items]
Warrants issued to the facility agreement			1,000,000			1,000,000

Common Stock And Warrants (Schedule Of Warrants To Purchase Common Stock Outstanding And Exercisable) (Details)	12 Months Ended
	Dec. 31, 2011 $ / shares shares	Jun. 30, 2006 $ / shares shares	Jun. 30, 2005 $ / shares shares
Class of Warrant or Right [Line Items]
Exercise Price per Share \| $ / shares		8.90	8.90
Expiration Date	June 9, 2009
Number of Shares \| shares	1,441,215	750,000	750,000
Issued On June 4, 2008 [Member]
Class of Warrant or Right [Line Items]
Exercise Price per Share \| $ / shares	7.40
Expiration Date	June 4, 2014
Number of Shares \| shares	1,000,000
Issued On June 10, 2009 [Member]
Class of Warrant or Right [Line Items]
Exercise Price per Share \| $ / shares	6.05
Expiration Date	June 10, 2014
Number of Shares \| shares	441,215

Employee Benefit Plans (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended	12 Months Ended
	Jul. 07, 2009	Jul. 31, 2010	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Life of stock option granted (years)			7
Life of stock options granted (years)			10
Stock-based compensation expense			$ 12,019	$ 20,971	$ 22,817
Options, cancelled			2,577,473	4,511,970	11,868,559
Options granted during the period			2,545,625	243,500	12,180,734
Fair value of employee options vested and expensed			$ 8,400	$ 16,200	$ 20,400
Cash received from option exercises and purchases under the ESPP			$ 14,200	5,800
Retirement Plan, employee contribution (percentage)			20.00%
Employer matching contributions for first 4% of participant contributions			50.00%
Employer matching contributions for first 3% of participant contributions			100.00%
Percentage of company contribution to participant's compensation			4.00%
Percentage of participant contributions into the 401(k) Retirement Plan			3.00%
Expenses relating to stock match			$ 800	1,000	1,100
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options, vesting period			four-year
Number of shares available for grant			10,274,293
Intrinsic value of options exercised			$ 7,000	800	200
Total unrecognized compensation expense			$ 10,700
Unrecognized compensation expense weighted-average period for recognition (In years)			2.79
ESPP [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Discount rate from market value on offering date			85.00%
Discount rate from market value on purchase date			85.00%
Stock-based compensation expense			$ 700	$ 1,300	$ 2,400
Number of shares available for grant			2,685,200
Common stock issued (shares)			375,305	689,093	1,278,336
Average price per share			$ 4.62	$ 4.55	$ 2.99
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation expense			$ 6,300
Unrecognized compensation expense weighted-average period for recognition (In years)			2.64
Incentive Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of voting stock required for incentive stock options with shorter life			10.00%
Incentive Stock Options, Held More Than Ten Percent Of Outstanding Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Life of stock option granted (years)			5
Option Exchange Program [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Life of stock option granted (years)			6.2
Options, cancelled	9,900,000
Options granted during the period	7,200,000
Chief Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 1,500
Unvested RSUs (shares)		101,050
Chief Executive Officer [Member] \| Unvested [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options, cancelled		981,302
Non Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense			$ 100	$ 100	$ 100
Option Exchange Program [Member] \| Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense			$ 0	$ 400	$ 300
Option Exchange Program [Member] \| Vested [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options, vesting period	one
Options, cancelled	7,300,000
Replacement grants for previously vested shares	5,100,000
Option Exchange Program [Member] \| Unvested [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options, vesting period	three
Options, cancelled	2,600,000
Replacement grants for previously vested shares	2,100,000

Employee Benefit Plans (Schedule Of Allocated Employee Stock-Based Compensation Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Employee stock-based compensation expense	$ 12,019	$ 20,971	$ 22,817
Research And Development Expense [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Employee stock-based compensation expense	5,935	11,535	15,708
General And Administrative Expense [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Employee stock-based compensation expense	5,459	7,931	$ 7,109
Restructuring-Related Stock Compensation Expense [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Employee stock-based compensation expense	$ 625	$ 1,505

- Definition

Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees.

+ References + Details

Employee Benefit Plans (Schedule Of Fair Value Of Employee Share-Based Payments Awards ESPP Assumptions And Weighted Average Fair Values) (Details)

12 Months Ended

Dec. 31, 2011

months

years

$ / shares

Dec. 31, 2010

months

years

$ / shares

Dec. 31, 2009

months

years

$ / shares

Stock Options [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Weighted average grant-date fair value

$ 3.50

$ 3.60

$ 3.61

^[1]

Risk-free interest rate

1.07%

2.25%

^[1]

Dividend yield

0.00%

^[1]

Volatility

70.00%

65.00%

^[1]

Expected life (in months/years) | years

5.5

5.2

5.4

^[1]

ESPP [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Weighted average grant-date fair value

$ 2.85

$ 1.87

$ 1.70

Risk-free interest rate

0.11%

0.21%

0.18%

Dividend yield

0.00%

Volatility

68.00%

64.00%

Expected life (in months/years) | months

6.0

2.6

Replacement Options [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Weighted average grant-date fair value

$ 2.82

Risk-free interest rate

2.10%

Dividend yield

0.00%

Volatility

67.00%

Expected life (in months/years) | years

3.7

[1]	These exclude the assumptions used to estimate the fair value of the options granted under the stock option exchange program as discussed below.

Employee Benefit Plans (Summary Of All Stock Option Activity) (Details)	12 Months Ended
	Dec. 31, 2011 USD ($) $ / shares shares	Dec. 31, 2010 $ / shares shares	Dec. 31, 2009 $ / shares shares
Employee Benefit Plans [Abstract]
Options outstanding at beginning of the year, Shares \| shares	19,630,030	24,393,598	24,141,186
Granted, Shares \| shares	2,545,625	243,500	12,180,734
Exercised, Shares \| shares	(2,161,804)	(495,098)	(59,763)
Cancelled, Shares \| shares	(2,577,473)	(4,511,970)	(11,868,559)
Options outstanding at ending of the year, Shares \| shares	17,436,378	19,630,030	24,393,598
Exercisable at December 31, 2011 \| shares	13,319,848
Options outstanding at beginning of the year, Weighted Average Exercise Price \| $ / shares	$ 7.52	$ 7.46	$ 9.67
Granted, Weighted Average Exercise Price \| $ / shares	5.86	6.28	5.93
Exercised, Weighted Average Exercise Price \| $ / shares	5.75	5.42	4.57
Cancelled, Weighted Average Exercise Price \| $ / shares	9.79	7.35	10.39
Options outstanding at ending of the year, Weighted Average Exercise Price \| $ / shares	7.16	$ 7.52	$ 7.46
Exercisable at December 31, 2011, Weighted Average Exercise Price \| $ / shares	$ 7.54
Options outstanding at ending of the year, Weighted Average Remaining Contractual Term (years)	4.92
Exercisable at December 31, 2011, Weighted Average Remaining Contractual Term (years)	4.31
Options outstanding at ending of the year, Aggregate Intrinsic Value \| $	$ 216,760,000
Exercisable at December 31, 2011, Aggregate Intrinsic Value \| $	$ 166,966,000

Employee Benefit Plans (Summary Of Information About Stock Options Outstanding) (Details)	12 Months Ended
	Dec. 31, 2011 $ / shares shares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding, Number \| shares	17,436,378
Options Outstanding, Weighted Average Remaining Contractual Life (Years)	4.89
Options Outstanding, Weighted Average Exercise Price	$ 7.16
Options Outstanding and Exercisable, Number of Exercisable \| shares	13,319,848
Options Outstanding and Exercisable, Weighted Average Exercise Price	$ 7.54
$3.05 - $ 5.47 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price Range, lower	3.05
Exercise Price Range, upper	$ 5.47
Options Outstanding, Number \| shares	1,775,716
Options Outstanding, Weighted Average Remaining Contractual Life (Years)	6.71
Options Outstanding, Weighted Average Exercise Price	$ 4.87
Options Outstanding and Exercisable, Number of Exercisable \| shares	1,164,344
Options Outstanding and Exercisable, Weighted Average Exercise Price	$ 4.77
$5.50 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price Range, lower	$ 5.50
Options Outstanding, Number \| shares	2,140,059
Options Outstanding, Weighted Average Remaining Contractual Life (Years)	6.74
Options Outstanding, Weighted Average Exercise Price	$ 5.50
Options Outstanding and Exercisable, Number of Exercisable \| shares	0
Options Outstanding and Exercisable, Weighted Average Exercise Price	$ 0.00
$5.61 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price Range, lower	$ 5.61
Options Outstanding, Number \| shares	21,553
Options Outstanding, Weighted Average Remaining Contractual Life (Years)	7.63
Options Outstanding, Weighted Average Exercise Price	$ 5.61
Options Outstanding and Exercisable, Number of Exercisable \| shares	11,761
Options Outstanding and Exercisable, Weighted Average Exercise Price	$ 5.61
$5.63 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price Range, lower	$ 5.63
Options Outstanding, Number \| shares	3,329,797
Options Outstanding, Weighted Average Remaining Contractual Life (Years)	3.72
Options Outstanding, Weighted Average Exercise Price	$ 5.63
Options Outstanding and Exercisable, Number of Exercisable \| shares	3,082,881
Options Outstanding and Exercisable, Weighted Average Exercise Price	$ 5.63
$5.64 - $ 7.05 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price Range, lower	5.64
Exercise Price Range, upper	$ 7.05
Options Outstanding, Number \| shares	1,827,969
Options Outstanding, Weighted Average Remaining Contractual Life (Years)	3.60
Options Outstanding, Weighted Average Exercise Price	$ 6.35
Options Outstanding and Exercisable, Number of Exercisable \| shares	1,642,264
Options Outstanding and Exercisable, Weighted Average Exercise Price	$ 6.38
$7.12 - $ 7.51 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price Range, lower	7.12
Exercise Price Range, upper	$ 7.51
Options Outstanding, Number \| shares	2,141,795
Options Outstanding, Weighted Average Remaining Contractual Life (Years)	6.55
Options Outstanding, Weighted Average Exercise Price	$ 7.28
Options Outstanding and Exercisable, Number of Exercisable \| shares	1,289,960
Options Outstanding and Exercisable, Weighted Average Exercise Price	$ 7.26
$7.56 - $ 8.90 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price Range, lower	7.56
Exercise Price Range, upper	$ 8.90
Options Outstanding, Number \| shares	2,696,347
Options Outstanding, Weighted Average Remaining Contractual Life (Years)	3.37
Options Outstanding, Weighted Average Exercise Price	$ 8.69
Options Outstanding and Exercisable, Number of Exercisable \| shares	2,687,996
Options Outstanding and Exercisable, Weighted Average Exercise Price	$ 8.69
$8.92 - $ 9.50 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price Range, lower	8.92
Exercise Price Range, upper	$ 9.50
Options Outstanding, Number \| shares	1,764,871
Options Outstanding, Weighted Average Remaining Contractual Life (Years)	4.11
Options Outstanding, Weighted Average Exercise Price	$ 9.00
Options Outstanding and Exercisable, Number of Exercisable \| shares	1,764,871
Options Outstanding and Exercisable, Weighted Average Exercise Price	$ 9.00
$9.53 - $15.70 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price Range, lower	9.53
Exercise Price Range, upper	$ 15.70
Options Outstanding, Number \| shares	1,737,271
Options Outstanding, Weighted Average Remaining Contractual Life (Years)	4.92
Options Outstanding, Weighted Average Exercise Price	$ 10.94
Options Outstanding and Exercisable, Number of Exercisable \| shares	1,674,771
Options Outstanding and Exercisable, Weighted Average Exercise Price	$ 10.92
$16.62 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price Range, lower	$ 16.62
Options Outstanding, Number \| shares	1,000
Options Outstanding, Weighted Average Remaining Contractual Life (Years)	0.00
Options Outstanding, Weighted Average Exercise Price	$ 16.62
Options Outstanding and Exercisable, Number of Exercisable \| shares	1,000
Options Outstanding and Exercisable, Weighted Average Exercise Price	$ 16.62

Employee Benefit Plans (Summary Of All RSU Activity) (Details)	12 Months Ended
	Dec. 31, 2011 USD ($) $ / shares shares
Employee Benefit Plans [Abstract]
RSUs outstanding at December 31, 2010, Shares \| shares	2,172,431
Awarded, Shares \| shares	356,498
Released, Shares \| shares	(648,437)
Forfeited, Shares \| shares	(488,801)
Awards outstanding at December 31, 2011, Shares \| shares	1,391,691
RSUs outstanding at December 31, 2010, Weighted Average Grant Date Fair Value \| $ / shares	$ 7.31
Awarded, Weighted Average Grant Date Fair Value \| $ / shares	6.17
Released, Weighted Average Grant Date Fair Value \| $ / shares	7.43
Forfeited, Weighted Average Grant Date Fair Value \| $ / shares	7.45
Awards outstanding at December 31, 2011, Weighted Average Grant Date Fair Value \| $ / shares	$ 6.92
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerm	1.48
Awards outstanding at December 31, 2011, Aggregate Intrinsic Value \| $	$ 6,589,665

Symphony Evolution (Details) $ in Thousands			1 Months Ended			3 Months Ended	12 Months Ended
Symphony Evolution (Details) $ in Thousands	Jun. 09, 2009 $ / shares years shares	Jun. 09, 2005 USD ($)	Jun. 30, 2008 years	Jun. 30, 2006 USD ($) $ / shares years shares	Jun. 30, 2005 USD ($) $ / shares years shares	Jun. 30, 2011 USD ($)	Dec. 31, 2011 shares	Dec. 31, 2009 USD ($)	Dec. 31, 2008 USD ($)
Warrants, exercise period (in years) \| years			6	5	5
Number of warrants issued to purchase of common stock \| shares				750,000	750,000		1,441,215
Exercise price of warrants issued \| $ / shares				8.90	8.90
Expiration date							June 9, 2009
Loss on deconsolidation of variable interest entity						$ 9,800		$ 9,826
Losses attributed to the noncontrolling interest								$ (4,337)	$ 700
Symphony Evolution, Inc. [Member]
Invested to fund the clinical development		$ 80,000		$ 40,000	$ 40,000
Symphony Evolution Holdings LLC [Member]
Warrants, exercise period (in years) \| years	5
Number of warrants issued to purchase of common stock \| shares	500,000
Exercise price of warrants issued \| $ / shares	6.05

Income Taxes (Narrative) (Details) - USD ($)		12 Months Ended
Income Taxes (Narrative) (Details) - USD ($)	Dec. 31, 2011	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Income Tax Examination [Line Items]
Income tax benefit (provision)		$ 1,295,000	$ (72,000)	$ (1,286,000)
Valuation allowance increased/decreased		49,700,000	25,200,000	52,400,000
Increase in deferred revenue		(244,528,000)	(42,945,000)	$ 85,777,000
Tax benefit of stock option		6,000,000
Unrecognized tax benefit would affect the effective tax rate	$ 126,000	126,000
Unrecognized tax benefits	39,310,000	39,310,000	46,381,000
Accrued interest	9,000	9,000
Provision relates to an adjustment		600,000
Tax deferred revenue adjustment that resulted in state tax liability	700,000	700,000
Federal [Member]
Income Tax Examination [Line Items]
Net operating loss carryforwards	863,000,000	863,000,000
Research and development tax credits	66,000,000
California [Member]
Income Tax Examination [Line Items]
Net operating loss carryforwards	724,000,000	$ 724,000,000
Research and development tax credits	$ 18,000,000
Maximum [Member] \| Federal [Member]
Income Tax Examination [Line Items]
Operating loss carryforwards, expiration dates		2031
Maximum [Member] \| California [Member]
Income Tax Examination [Line Items]
Operating loss carryforwards, expiration dates		2031
Maximum [Member] \| Research And Development Expense [Member]
Income Tax Examination [Line Items]
Operating loss carryforwards, expiration dates		2029
Minimum [Member] \| Federal [Member]
Income Tax Examination [Line Items]
Operating loss carryforwards, expiration dates		2018
Minimum [Member] \| California [Member]
Income Tax Examination [Line Items]
Operating loss carryforwards, expiration dates		2013
Minimum [Member] \| Research And Development Expense [Member]
Income Tax Examination [Line Items]
Operating loss carryforwards, expiration dates		2019
Revised [Member]
Income Tax Examination [Line Items]
Increase in deferred revenue			$ 62,800,000

Income Taxes (Schedule Of Consolidated Net Income (Loss)) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Income Taxes [Abstract]
Domestic	$ 76,992	$ (92,402)	$ (140,843)
Foreign
Total	$ 76,992	$ (92,402)	$ (140,843)

Income Taxes (Schedule Of Reconciliation Of Income Taxes At The Statutory Federal Income Tax Rate To Net Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Income Taxes [Abstract]
U.S. federal taxes (benefit) at statutory rate	$ 26,177	$ (31,417)	$ (47,886)
Unutilized net operating losses	(29,650)	29,636	42,954
Non-Deductable Interest	2,809
Stock based compensation	627	1,709	2,641
State Tax Expense	660
Other	36	72	2,291
Refundable Tax Credit	636	(72)	(1,286)
Total	$ 1,295	$ (72)	$ (1,286)

- Definition

The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to pretax Income or Loss from continuing operations; income tax expense or benefit may include interest and penalties on tax uncertainties based on the entity's accounting policy.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 48
-Paragraph 15, 16, 19
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 45, 46
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32672-109319

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-Subparagraph (a),(b)
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 45
-Paragraph 25
-URI http://asc.fasb.org/extlink&oid=6907571&loc=d3e32247-109318

+ Details

Income Taxes (Schedule Of Deferred Assets And Liabilities) (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2011

Dec. 31, 2010

Dec. 31, 2009

Income Taxes [Abstract]

Net operating loss carryforwards

^[1]

$ 318,638

$ 273,395

Tax credit carryforwards

54,726

70,566

^[1]

Capitalized research and development costs

805

1,836

^[1]

Deferred revenue

^[1]

18,400

97,935

Accruals and reserves not currently deductible

6,522

7,087

^[1]

Book over tax depreciation

6,543

7,251

^[1]

Amortization of deferred stock compensation - non-qualified

25,865

23,145

^[1]

Total deferred tax assets

431,499

481,215

^[1]

Valuation allowance

(431,499)

(481,215)

^[1]

Net deferred tax assets

^[1]

Net deferred taxes

^[1]

Increase in deferred revenue

$ (244,528)

(42,945)

$ 85,777

Increase (decrease) in net operating loss carryforward

$ (62,800)

[1]

Income Taxes (Schedule Of Unrecognized Tax Benefits) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2011 USD ($)
Income Taxes [Abstract]
Balance at January 1, 2011	$ 46,381
Decrease relating to prior year provision	(9,782)
Increase relating to current year provision	2,711
Ending Balance at December 31, 2011	$ 39,310

Commitments (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
Commitments (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Operating Leased Assets [Line Items]
Rent expenses under operating leases	$ 21.3	$ 28.0	$ 21.0
Net of sublease rentals under operating leases	1.9	0.3
Collateral amount on non-interest bearing certificate of deposit	2.9	5.1
Building Lease [Member]
Operating Leased Assets [Line Items]
Standby letter of credit, amount	0.5	0.5
Workers Compensation Insurance Policy [Member]
Operating Leased Assets [Line Items]
Standby letter of credit, amount	$ 0.8	$ 0.8

Commitments (Schedule Of Aggregate Future Minimum Lease Payments Under Operating Leases) (Details)
$ in Thousands

Dec. 31, 2011

USD ($)

Commitments [Abstract]

2012

$ 19,397

^[1]

2013

19,130

^[1]

2014

19,539

^[1]

2015

19,831

^[1]

2016

16,431

^[1]

Thereafter

11,910

^[1]

Total

106,238

^[1]

Future minimum rental under noncancelable subleases

$ 18,700

[1]	Minimum payments have not been reduced by minimum sublease rentals of $18.7 million due in the future under noncancelable subleases

Commitments (Schedule Of Aggregate Future Minimum Lease Payments Under Operating Leases By Material Lease Agreements) (Details)
$ in Thousands

12 Months Ended

Dec. 31, 2011

USD ($)

Operating Leased Assets [Line Items]

Future Minimum Lease Payment

$ 106,238

^[1]

Building Lease #1&2 [Member]

Operating Leased Assets [Line Items]

Number of Renewal Option

Period of Renewal Option, in years

Future Minimum Lease Payment

$ 60,428

Original Term (Expiration)

May 2017

Building Lease #3 [Member]

Operating Leased Assets [Line Items]

Number of Renewal Option

Period of Renewal Option, in years

Future Minimum Lease Payment

$ 29,586

Original Term (Expiration)

July 2018

Building Lease #4 [Member]

Operating Leased Assets [Line Items]

Number of Renewal Option

Period of Renewal Option, in years

Future Minimum Lease Payment

$ 16,224

Original Term (Expiration)

December 2015

[1]	Minimum payments have not been reduced by minimum sublease rentals of $18.7 million due in the future under noncancelable subleases

Quarterly Financial Data (Schedule Of Quarterly Financial Data) (Details) - USD ($)
$ / shares in Units, $ in Thousands

1 Months Ended

3 Months Ended

12 Months Ended

May 31, 2010

Jul. 31, 2009

Dec. 31, 2011

Sep. 30, 2011

Jun. 30, 2011

Mar. 31, 2011

Dec. 31, 2010

Sep. 30, 2010

Jun. 30, 2010

Mar. 31, 2010

Dec. 31, 2011

Dec. 31, 2010

Dec. 31, 2009

Quarterly Financial Data [Abstract]

Total revenues

$ 94,309

$ 128,272

$ 32,162

$ 35,893

$ 40,776

^[1]

$ 54,474

$ 47,596

^[2],[3]

$ 42,199

^[2],[4]

Income (loss) from operations

51,574

79,699

(18,008)

(23,730)

(14,109)

^[1]

(4,205)

(25,631)

^[2],[3]

(47,452)

^[2],[4]

Net income (loss) attributable to Exelixis, Inc.

$ 46,297

$ 77,865

$ (20,975)

$ (27,490)

$ (17,864)

^[1]

$ (8,603)

$ (22,614)

^[2],[3]

$ (43,249)

^[2],[4]

$ 75,697

$ (92,330)

$ (135,220)

Basic net income (loss) per share, attributable to Exelixis, Inc.

$ 0.35

$ 0.60

$ (0.16)

$ (0.24)

$ 0.60

$ (0.85)

$ (1.26)

Diluted net income (loss) per share, attributable to Exelixis, Inc.

$ 0.35

$ 0.59

$ (0.16)

$ (0.24)

$ 0.58

$ (0.85)

$ (1.26)

Basic and diluted net loss per share, attributable to Exelixis, Inc.

$ (0.16)

^[1]

$ (0.08)

$ (0.21)

^[2],[3]

$ (0.40)

^[2],[4]

Restructuring expenses

$ 6,900

$ 9,400

$ 16,100

$ 10,136

$ 32,744

Additional gain realized in other income

$ 4,500

$ 1,800

$ 2,700

$ 1,462

$ 138

$ 1,510

[1]	In connection with the December 2010 restructuring plan, we recorded a charge of approximately $6.9 million in the fourth quarter of 2010 primarily related to termination benefits, which includes the modification of certain stock option awards previously granted to the terminated employees. The modification allows employees who were terminated under the plan to exercise their options until September 2011. The remainder of the charge was for the impairment of various assets relating to idle equipment in our South San Francisco location.
[2]	In the second quarter of 2009, we signed an amendment to our arrangement with Agrigenetics for which we received $1.8 million in July 2009. We received additional payments of $2.7 million and $4.5 million in March 2010 and May 2010 respectively and recognized these as additional gains in other income.
[3]	We recorded further restructuring expenses of approximately $9.4 million during the second quarter of 2010 associated primarily with lease-exit costs in connection with the sublease and exit of our South San Francisco building, partially offset by a reduction in termination benefits following the recall of certain employees that were originally terminated under the restructuring plan and the continued delay in the termination of a small group of employees impacted by the restructuring plan.
[4]	In connection with the March 2010 restructuring plan, we recorded a charge of approximately $16.1 million in the first quarter of 2010 primarily related to termination benefits, which includes the modification of certain stock option awards previously granted to the terminated employees. The modification accelerates the vesting of any stock options that would have vested over the period beginning from cessation of employment through August 5, 2010. Employees who were terminated in March also received an additional two months to exercise their options, for which a small charge was taken. The remainder of the charge was for the impairment of various assets and for non-cash charges relating to the closure of our facility in San Diego, California.

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 36, 37, 38
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 5
-Section 03
-Paragraph 20

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 7
-Paragraph 18

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 21
-Article 9

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.21)
-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6920599&loc=d3e1252-109256

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=6945512&loc=d3e4984-109258

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04.23)
-URI http://asc.fasb.org/extlink&oid=6879574&loc=d3e536633-122882

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.19)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 07-4
-Paragraph 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References + Details

- Definition

This element represents the income or loss from continuing operations attributable to the parent which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items but after deduction of those portions of income or loss from continuing operations that are allocable to noncontrolling interests, if any.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 29
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 28
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph b(1)
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 18
-URI http://asc.fasb.org/extlink&oid=6921628&loc=SL4613673-111683

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.13)
-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 87-21
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 10, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 28, 29, 30
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 5
-Section 03
-Paragraph 19

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 20
-Article 9

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Net Income
-URI http://asc.fasb.org/extlink&oid=6518256

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Other Comprehensive Income
-URI http://asc.fasb.org/extlink&oid=6519514

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.18)
-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.19)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e565-108580

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.22)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph A7
-Appendix A

+ Details

Organization And Summary Of Significant Accounting Policies (Schedule Of Fair Value Of Financial Assets Measured On A Recurring Basis) (Details) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total fair value of financial assets	$ 283,721	$ 256,780
Money Market Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total fair value of financial assets	81,986	171,048
Commercial Paper [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total fair value of financial assets	29,080	19,283
Corporate Bonds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total fair value of financial assets	115,921	36,877
U.S. Government Sponsored Enterprises [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total fair value of financial assets	37,249	18,816
Municipal Bonds And Variable Rate Demand Notes [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total fair value of financial assets	19,485
Municipal Bonds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total fair value of financial assets		10,912
Foreign Currency Forward Contract [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total fair value of financial assets		(156)
Level 1 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total fair value of financial assets	81,986	171,048
Level 1 [Member] \| Money Market Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total fair value of financial assets	81,986	171,048
Level 2 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total fair value of financial assets	201,735	85,732
Level 2 [Member] \| Commercial Paper [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total fair value of financial assets	29,080	19,283
Level 2 [Member] \| Corporate Bonds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total fair value of financial assets	115,921	36,877
Level 2 [Member] \| U.S. Government Sponsored Enterprises [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total fair value of financial assets	37,249	18,816
Level 2 [Member] \| Municipal Bonds And Variable Rate Demand Notes [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total fair value of financial assets	$ 19,485
Level 2 [Member] \| Municipal Bonds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total fair value of financial assets		10,912
Level 2 [Member] \| Foreign Currency Forward Contract [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total fair value of financial assets		(156)
Level 3 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total fair value of financial assets
Level 3 [Member] \| Money Market Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total fair value of financial assets
Level 3 [Member] \| Commercial Paper [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total fair value of financial assets
Level 3 [Member] \| Corporate Bonds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total fair value of financial assets
Level 3 [Member] \| U.S. Government Sponsored Enterprises [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total fair value of financial assets
Level 3 [Member] \| Municipal Bonds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total fair value of financial assets
Level 3 [Member] \| Foreign Currency Forward Contract [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total fair value of financial assets