Exelixis to Be Added to the S&P MidCap 400 Index
June 27 2018 - 08:00AM
Business Wire
Exelixis, Inc. (Nasdaq: EXEL) today announced that it will be
added to Standard & Poor’s (S&P) MidCap 400 index,
effective prior to the open of trading on Monday, July 2. The
company will be classified under S&P’s Global Industry
Classification Standard (GICS) Biotechnology Sub-Industry
index.
“S&P is a highly respected organization in the investment
and financial communities, so Exelixis’ addition to the S&P
MidCap 400 is an important milestone as we continue on our growth
trajectory,” said Michael M. Morrissey, Ph.D., President and Chief
Executive Officer of Exelixis. “Being recognized by S&P
reflects our strong progress as an oncology company, and our
efforts to maximize shareholder value by growing revenues and
prudently reinvesting in our business. We remain deeply committed
to bringing forward the cancer treatments and regimens of the
future on our mission to help patients recover stronger and live
longer.”
The S&P MidCap 400® provides investors with a benchmark for
mid-sized companies. The index, which is distinct from the
large-cap S&P 500®, measures the performance
of profitable mid-sized companies, reflecting the
distinctive risk and return characteristics of this market
segment.
About Exelixis
Founded in 1994, Exelixis, Inc. (Nasdaq: EXEL) is a commercially
successful, oncology-focused biotechnology company that strives to
accelerate the discovery, development and commercialization of new
medicines for difficult-to-treat cancers. Following early work in
model genetic systems, we established a broad drug discovery and
development platform that has served as the foundation for our
continued efforts to bring new cancer therapies to patients in
need. We discovered our three commercially available products,
CABOMETYX® (cabozantinib), COMETRIQ® (cabozantinib) and COTELLIC®
(cobimetinib), and have entered into partnerships with leading
pharmaceutical companies to bring these important medicines to
patients worldwide. Supported by revenues from our marketed
products and collaborations, we are committed to prudently
reinvesting in our business to maximize the potential of our
pipeline. We are supplementing our existing therapeutic assets with
targeted business development activities and internal drug
discovery – all to deliver the next generation of Exelixis
medicines and help patients recover stronger and live longer.
Exelixis earned a spot on Deloitte’s 2017 Technology Fast 500 list,
a yearly award program honoring the 500 fastest-growing companies
over the past four years. For more information about Exelixis,
please visit www.exelixis.com, follow @ExelixisInc on Twitter or
like Exelixis, Inc. on Facebook.
About S&P Dow Jones Indices
S&P Dow Jones Indices is the largest global resource for
essential index-based concepts, data and research, and home to
iconic financial market indicators, such as the S&P 500® and
the Dow Jones Industrial Average®. More assets are invested in
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S&P Dow Jones Indices is a division of S&P Global (NYSE:
SPGI), which provides essential intelligence for individuals,
companies, and governments to make decisions with confidence. For
more information, visit www.spdji.com.
Forward Looking Statement
This press release contains forward-looking statements,
including, without limitation, statements related to: the addition
of Exelixis to the S&P MidCap 400 index on July 2, 2018;
Exelixis’ ability to continue on its growth trajectory; Exelixis’
commitment to bringing forward the cancer treatments and regimens
of the future and its mission to help patients recover stronger and
live longer; and Exelixis’ plans to reinvest in its business to
maximize the potential of the company’s pipeline. Words such as
“will,” “continue,” “committed,” “mission,” “potential,” or other
similar expressions identify forward-looking statements, but the
absence of these words does not necessarily mean that a statement
is not forward-looking. In addition, any statements that refer to
expectations, projections or other characterizations of future
events or circumstances are forward-looking statements. These
forward-looking statements are based upon Exelixis’ current plans,
assumptions, beliefs, expectations, estimates and projections.
Forward-looking statements involve risks and uncertainties. Actual
results and the timing of events could differ materially from those
anticipated in the forward-looking statements as a result of these
risks and uncertainties, which include, without limitation: a
change to the planned timing for Exelixis’ addition to S&P’s
MidCap 400; market acceptance of CABOMETYX, COMETRIQ, and COTELLIC
and the availability of coverage and reimbursement for these
products; the risk that unanticipated developments could adversely
affect the commercialization of CABOMETYX, COMETRIQ, and COTELLIC;
risks and uncertainties related to regulatory review and approval
processes and Exelixis’ compliance with applicable legal and
regulatory requirements; risks related to the potential failure of
cabozantinib and cobimetinib to demonstrate safety and efficacy in
clinical testing; Exelixis’ ability and the ability of its
collaborators to conduct clinical trials of cabozantinib and
cobimetinib, both alone and in combination with other therapies,
sufficient to achieve a positive completion; Exelixis’ dependence
on its relationships with its collaboration partners, including,
the level of their investment in the resources necessary to
successfully commercialize partnered products in the territories
where they are approved; the level of costs associated with
Exelixis’ commercialization, research and development, in-licensing
or acquisition of product candidates, and other activities;
Exelixis’ dependence on third-party vendors for the development,
manufacture and supply of its products; Exelixis’ ability to
protect the company’s intellectual property rights; market
competition, including the potential for competitors to obtain
approval for generic versions of Exelixis’ marketed products;
changes in economic and business conditions, and other factors
discussed under the caption “Risk Factors” in Exelixis’ annual
report on Form 10-Q filed with the Securities and Exchange
Commission (SEC) on May 2, 2018, and in Exelixis’ future
filings with the SEC. The forward-looking statements made in
this press release speak only as of the date of this press
release. Exelixis expressly disclaims any duty,
obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in Exelixis’ expectations with regard thereto or
any change in events, conditions or circumstances on which any such
statements are based.
Exelixis and the Exelixis logo are registered
U.S. trademarks.
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version on businesswire.com: https://www.businesswire.com/news/home/20180627005627/en/
Investors Contact:Exelixis, Inc.Susan Hubbard,
650-837-8194EVP, Public Affairs and Investor
Relationsshubbard@exelixis.comorMedia Contact:For Exelixis,
Inc.Hal Mackins, 415-994-0040hal@torchcommunications.com
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