Exelixis Inc.'s acquisition of Genomica Corp. will provide some bioinformatics for managing clinical trials. But it appears that the purchase will play a more immediate and pivotal role as a source of cash to help fund EXEL's movement downstream.

EXEL acquired GNOM essentially for free, trading $110 million in stock for GNOM's $110.8 million in cash and investments. The acquisition followed GNOM's announcement earlier this