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EXEL / Farallon to launch proxy fight at biotech Exelixis: WSJ

Farallon to launch proxy fight at biotech Exelixis: WSJ
Hedge fund Farallon Capital Management plans to launch a proxy fight at cancer-drug maker Exelixis Inc. EXEL, +0.36% , and has nominated three directors to that company's board, the Wall Street Journal reported on Tuesday. The move by Farallon — which owns more than 7% of the biotech, according to FactSet — was made after the fund expressed concerns over what it said was Exelixis' undisciplined research and development spending and insufficient shareholder returns following a years-long drop in the company's share price, according to the Journal. Read More
Posted: Apr 4 2023, 18:23
Author Name: Market Watch
Views: 102827

EXEL News  

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