BioCentury
ARTICLE | Strategy

Valuing Genomica by its cash

December 3, 2001 8:00 AM UTC

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 year that there was not sufficient demand for its research enterprise software to maintain the company as an independent business (see BioCentury, Oct. 8)...