Array BioPharma, Inc. Announces Closing of Public Offering of Common Stock and Exercise of Overallotment Option

BOULDER, Colo.--(BUSINESS WIRE)--Array BioPharma Inc. (NASDAQ: ARRY) today announced the closing of its previously announced underwritten public offering of 23,000,000 shares of its common stock at a public offering price of $2.60 per share, which includes the exercise in full by the underwriters of the over-allotment option to purchase 3,000,000 shares of common stock. Array received net proceeds from the sale of the shares, after underwriting discounts and commissions and estimated offering expenses, of approximately $56.1 million. Array intends to use the net proceeds from this offering to fund research and development efforts, including clinical trials for Array’s proprietary candidates, and for general corporate purposes.