SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Exelixis, Inc. (Nasdaq: EXEL) today reported financial results for the third quarter ended September 30, 2011. Revenues for the quarter ended September 30, 2011 were $128.3 million, compared to $54.5 million for the comparable period in 2010. The increase was primarily due to the acceleration of deferred license revenue as a result of the notice of early termination received in July 2011 of our 2008 collaboration agreement for the development of XL281 with Bristol Myers-Squibb Company on a worldwide basis. This increase was partially offset by a decline in reimbursement revenues associated with the transfer in 2011 of substantially all development activities pertaining to XL147 and XL765 under our 2009 collaboration agreement with sanofi-aventis.
