PREMARKET ALERT: Exelixis (EXEL)

Posted in General 
July 29th, 2009

Exelixis Inc. (Nasdaq: EXEL) shares are up more than 3 percent to $6.07 in premarket trading, on  volume of about 34,000 shares as of 8:40 a.m. Eastern. There is no news out on the company, and no known new reports from analysts. Motley Fool mentioned the company rather passively in a story about biotechs being taken out, saying that EXEL is one with “multiple shots on goal”. Of note, Exelixis has a partnership with Bristol-Myers (NYSE: BMY), which bought Medarex Inc. (Nasdaq: MEDX) for a premium last week. At the time, Bristol Myers said it still had the resources for additional deals. — Mike Tarsala

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