ArQule, Inc. Prices Public Offering of Common Stock

WOBURN, Mass.--(BUSINESS WIRE)--ArQule, Inc. (NASDAQ: ARQL) today announced the pricing of an underwritten public offering of 7,150,000 shares of its common stock at a price of $7.30 per share. The net proceeds to ArQule from the sale of the shares, after deducting underwriting discounts and commissions and estimated expenses, are expected to be approximately $48.7 million. The offering is expected to close on or about April 16, 2012, subject to customary closing conditions. Citigroup and Leerink Swann are acting as joint book-running managers for the offering. Lazard Capital Markets, RBC Capital Markets and Oppenheimer & Co. are acting as co-managers.