(BUSINESS WIRE)--ArQule, Inc. (NASDAQ: ARQL) today announced that it has priced a public offering of 7,000,000 shares of its common stock at a price of $6.15 per share. Net proceeds after underwriting discounts and commissions and expenses will be approximately $40.5 million. ArQule has granted the underwriters a thirty-day option to purchase up to an additional 1,050,000 shares to cover over-allotments, if any. The offering is expected to close on or about January 25, 2010, subject to satisfaction of customary closing conditions.
