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Exelixis Initiates Phase 3 Clinical Trial Of Cabozantinib In Patients With Advanced Hepatocellular Carcinoma

For full prescribing information, including Boxed Warning, please visit www.COMETRIQ.com.

About Exelixis

Exelixis is a biotechnology company committed to developing small molecule therapies for the treatment of cancer. Exelixis is focusing its proprietary resources and development efforts exclusively on COMETRIQ® (cabozantinib). Exelixis has also established a portfolio of other novel compounds that it believes have the potential to address serious unmet medical needs, many of which are being advanced by partners as part of collaborations. For more information, please visit the company's web site at www.exelixis.com.

Forward-Looking Statements

This press release contains forward-looking statements, including, without limitation, statements related to: the continued development and clinical, therapeutic and commercial potential of, and opportunities for, cabozantinib; the belief that the phase 2 data investigating cabozantinib in patients with advanced HCC are worthy of more study; the belief that cabozantinib’s target profile, which includes inhibition of both MET and VEGFR, is highly relevant in HCC; Exelixis’ plans to expand the cabozantinib franchise and the importance of the CELESTIAL trial to such plans; the belief that the data from the CELESTIAL trial will provide important insight into the role that cabozantinib may play in improving the care of patients with HCC; and the design, plans and goals for the CELESTIAL trial, and the potential success thereof. Words such as “options,” “new,” “investigating,” “target,” “may,” “conducted,” “expected,” “will,” “endpoint,” “assumes,” “provide,” “important,” “milestone,” “expand,” “unmet,” “designed,” “believe,” “insight,” “role,” “improving,” “potential,” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon Exelixis' current plans, assumptions, beliefs and expectations. Forward-looking statements involve risks and uncertainties. Exelixis' actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation: the availability of data at the expected times; risks related to the potential failure of cabozantinib to demonstrate safety and efficacy in clinical testing; the uncertain timing and level of expenses associated with the development of cabozantinib; Exelixis' ability to conduct clinical trials of cabozantinib sufficient to achieve a positive completion; the sufficiency of Exelixis' capital and other resources; market competition; and changes in economic and business conditions. These and other risk factors are discussed under “Risk Factors” and elsewhere in Exelixis' quarterly report on Form 10-Q for the three months ended June 28, 2013, filed with the Securities and Exchange Commission (SEC) on August 6, 2013, and Exelixis' other filings with the SEC. Exelixis expressly disclaims any duty, obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Exelixis' expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.

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