Mergers & Acquisitions

Exelixis agrees to acquire NHR-focused company

Published in Gene Therapy Weekly, October 28th, 2004

Exelixis, Inc., (EXEL) has entered into a definitive agreement to acquire X-Ceptor Therapeutics, Inc., a company focused on the discovery and development of small molecules that modulate nuclear hormone receptors (NHRs).

Under the terms of the agreement, Exelixis will issue approximately 2.5 million shares of Exelixis common stock and pay approximately $2.9 million in cash in exchange for all of the outstanding shares of capital stock of X-Ceptor on a fully diluted basis. X-Ceptor stockholders who own approximately 87% of the X-Ceptor shares outstanding have executed written consents to approve the transaction. The acquisition is expected to close in the fourth quarter...

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Source: Gene Therapy Weekly (2004-10-28)

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