TESARO Close Offering, Full Exercise of Underwriter's Over-Allotment Option

TESARO, Inc. (Nasdaq: TSRO)announced today the closing of its previously announced underwritten publicoffering of common stock. The total number of shares of common stock sold was5,428,000, composed of 4,720,000 shares of common stock initially offered andan additional 708,000 shares of common stock sold pursuant to the fullexercise of the underwriters' over-allotment option, in each case at a publicoffering price of $18.00 per share. As a result, aggregate net proceeds to theCompany, after underwriting discounts and commissions and other estimatedoffering expenses, will be approximately $91.2 million.The Company expects to use the net proceeds of this offering to fund itsdevelopment programs, including clinical trials for its product candidates,rolapitant, niraparib and TSR-011; and for working capital and generalcorporate purposes. The Company may also use a portion of the proceeds toin-license or acquire, as the case may be, product candidates, technologies,compounds, other assets or complementary businesses, though the Company has nocurrent understandings, agreements or commitments to do so.