September 9, 2014 (Shareholders Foundation) - An investigation on behalf of investors of Exelixis, Inc. (NASDAQ:EXEL) shares over potential securities laws violations by Exelixis and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Exelixis, Inc. (NASDAQ:EXEL) concerning whether a series of statements by Exelixis regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Exelixis, Inc. reported that its annual Total Revenue declined from $47.45 million for 2012 to $31.34 million for 2013 and that its Net Loss increased from $147.65 million to $244.76 million. Shares of Exelixis, Inc. (NASDAQ:EXEL) grew from $4.30 per share in August 2012 to as high as $8.08 per share in January 2014.

On September 1, 2014, Exelixis, Inc. announced the results from the COMET-1 Phase 3 Pivotal Trial of Cabozantinib in Men with Metastatic Castration-Resistant Prostate Cancer.
Shares of Exelixis, Inc. (NASDAQ:EXEL) declined to as low as $1.84 per share on September 2, 2014.

On September 8, 2014, NASDAQ:EXEL shares closed at $1.86 per share.