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Exelixis Posts Q3 Revenue Rise

SAN FRANCISCO, Nov. 13 - Exelixis on Tuesday posted third-quarter revenues of $11.9 million versus $6.1 for the same quarter a year ago, the company announced.


The South San Francisco-based company attributed the revenue rise to new collaborations with Bristol-Myers Squibb and Protein Design Labs.


Exelixis reported a net loss of $13.4 million, or 28 cents per share for the third quarter of 2001, compared to a net loss of $5.5 million, or 13 cents per share for the third quarter of 2000.


General and administrative expenses for the period increased to $4.8 million from $2.6 million for the year-ago period. Research and development rose to $21.3 million from $11.1 million for the third quarter of 2000.


"The third quarter was highly productive for Exelixis, both in establishing key strategic partnerships with leading companies such as Bristol-Myers Squibb and Elan and in moving our internal programs forward aggressively," George Scangos, CEO of Exelixis, said in a statement. "We remain on track to announce our first lead compound by year end."


The company reported $132.3 million in cash, cash equivalents and short-term investments as of September 30, 2001.

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