Exelixis (EXEL) Stock Declines in After-Hours Trading on Quarterly Loss

Exelixis (EXEL) stock is falling in after-hours trading after the company reported a wider than expected loss for the 2015 third quarter.
By Amanda Gomez ,

NEW YORK (TheStreet) -- Exelixis (EXEL) - Get Report stock is down 1.26% to $6.25 in after-hours trading on Tuesday after the company reported a wider loss than expected for the 2015 third quarter. Revenue exceeded estimates.

The biopharmaceutical company reported a loss of 22 cents per share for the quarter ended September 30, missing estimates by 2 cents.

Revenue totaled $9.85 million for the quarter, beating estimates of $9.08 million.

"Over the last few months, we have made significant strides with our lead development program," CEO Michael Morrissey said in a statement. "We have significantly strengthened our organization's capabilities, including the addition of high-level personnel in medical affairs, sales, and marketing in advance of the potential commercialization of cabozantinib in advanced renal cell carcinoma."

Exelixis focuses on small molecule therapies, such as cabozantinib, to treat cancer.

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