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Correction: Earns-Exelixis story

August 4, 2016

SOUTH SAN FRANCISCO, Calif. (AP) — In a story August 4 about Exelixis Inc.’s quarterly results — generated by Automated Insights using data from Zacks Investment Research — The Associated Press reported erroneously that the company is forecasting annual revenue of $250 million to $270 million. Exelixis projects full-year operating expenses of $250 million to $270 million.

A corrected version of the story is below:

Exelixis reports 2Q loss

Exelixis reports second-quarter loss but tops expectations

SOUTH SAN FRANCISCO, Calif. (AP) — Exelixis Inc. (EXEL) on Wednesday reported a loss of $37 million in its second quarter.

On a per-share basis, the South San Francisco, California-based company said it had a loss of 16 cents.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 27 cents per share.

The drug developer posted revenue of $36.3 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $15.6 million.

Exelixis expects full-year operating expenses in the range of $250 million to $270 million.

Exelixis shares have risen 66 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $9.39, a rise of 53 percent in the last 12 months.

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Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EXEL at http://www.zacks.com/ap/EXEL

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Keywords: Exelixis, Earnings Report

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