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April 2, 2014
05:56 EDTSWY, EXELStocks with implied volatility below IV index mean; SWY EXEL
Stocks with implied volatility below IV index mean; Safeway (SWY) 12, Exelixis (EXEL) 89 according to iVolatility.
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September 1, 2014
18:19 EDTEXELExelixis announces 70% workforce reduction after trial failure
Exelixis said that as a result of the outcome of COMET-1, it will initiate a "significant" workforce reduction to enable the company to focus its financial resources on the late-stage clinical trials of cabozantinib in metastatic renal cell carcinoma and advanced hepatocellular carcinoma. The company will reduce its workforce by approximately 70%, or approximately 160 employees, resulting in approximately 70 remaining employees. Exelixis anticipates the one-time restructuring charge associated with the workforce reduction to be approximately $6M-$8M, with the majority to be completed by the end of Q4. As a result of this and other cost-saving measures contemplated, the company anticipates that it has sufficient cash to support its operations through the release of top-line results of the METEOR trial next year.
18:17 EDTEXELExelixis says COMET-1 phase 3 trial did not meet endpoint
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