UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): December 16, 2003
EXELIXIS, INC.
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(Exact Name of Registrant as Specified in Charter)
Delaware 0-30235 04-3257395
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(State or Other (Commission File Number) (IRS Employer
Jurisdiction of Incorporation) Identification No.)
170 Harbor Way
P.O. Box 511
South San Francisco, California 94083
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(Address of principal executive offices, and including zip code)
(650) 837-7000
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(Registrant's telephone number, including area code)
Item 5. Other Events and Regulation FD Disclosure.
In October 2002, Exelixis and SmithKlineBeecham Corporation ("GSK") established
a collaboration to discover and develop novel therapeutics in the areas of
vascular biology, inflammatory disease and oncology. The collaboration involved
three agreements: (a) a Product Development and Commercialization Agreement; (b)
a Stock Purchase and Stock Issuance Agreement; and (c) a Loan and Security
Agreement. Under the Loan and Security Agreement, GSK provided a loan facility
of up to $85.0 million for use in the Company's efforts under the collaboration,
and the Company borrowed $25.0 million under that agreement in December 2002.
On December 16, 2003, the Company borrowed an additional $30.0 million under the
Loan and Security Agreement. This loan amount bears interest at a rate of 4% per
annum and is secured by the intellectual property, technology and equipment
created or utilized pursuant to the collaboration. Principal and accrued
interest become due in installments, beginning on or about the sixth anniversary
of the collaboration, unless the collaboration is terminated earlier by GSK.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Dated: December 16, 2003
Exelixis, Inc.
/s/ Kristine M. Ball
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Kristine M. Ball
Interim Chief Financial Officer
(Principal Financial and Accounting Officer)
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