Array BioPharma Announces Proposed Public Offering of 20M Shares

Array BioPharma Inc.

announced today the pricing of an underwritten public offering of 20,000,000 primary shares of its common stock at a public offering price of $2.60 per share. The gross proceeds from the sale of the shares, before underwriting discounts and commissions and other offering expenses, are expected to be approximately $52 million. The offering is expected to close on or about February 14, 2012, subject to customary closing conditions. Array also granted the underwriters a 30-day option to purchase 3,000,000 additional shares of common stock to cover over-allotments, if any. All of the shares sold in the offering are being sold by Array, with the proceeds to be used to fund research and development activities and for general corporate purposes. Jefferies & Company, Inc. and Leerink Swann LLC are acting as joint book-running managers for the offering. Stifel Nicolaus Weisel is acting as co-manager for the offering.