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Exelixis raising funds ahead of cabozantinib decision but stock slips

This article was originally published in Scrip

Executive Summary

Exelixis has yet to price 20 million shares of common stock that it said on 6 August it will offer concurrently with the sale of $225 million worth of convertible senior subordinated notes, but the South San Francisco cancer drug developer's stock is trading lower in anticipation of the financial transactions.

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