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Exelixis (EXEL) Stock Gains on Q3 Results

NEW YORK (TheStreet) -- Shares of Exelixis (EXEL) were soaring 14.71% to $11.70 on heavy trading volume late Friday afternoon after posting better-than-expected results for the 2016 third quarter.

After yesterday's market close, the San Francisco-based biopharmaceutical company reported a loss of 4 cents per share, narrower than the FactSet consensus of a loss of 12 cents per share.

Revenue rose to $62.2 million from $9.9 million a year ago, topping analysts' estimates...