Array BioPharma Inc. (Nasdaq: ARRY) announced today the closing of its underwritten public offering of 24,069,766 shares of its common stock, which includes 3,139,534 shares of common stock issued upon the exercise in full of the option to purchase additional shares granted to the underwriters, at a public offering price of $10.75 per share. The total gross proceeds from the offering are $258.75 million, before underwriting discounts and commissions and offering expenses.

J.P. Morgan Securities LLC and Cowen and Company, LLC acted as joint book-running managers for the offering. Piper Jaffray & Co. also acted as a bookrunner for the offering. Stifel and Wells Fargo Securities, LLC acted as lead managers and SunTrust Robinson Humphrey, Inc. acted as co-manager.

The shares were sold pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission (the "SEC") that became effective. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted.

Note: Array BioPharma was represented by Carin Cutler, Naz Jalali, Kathy Jaffari, Neil DiSpirito, Saba Ashraf, and Joanna Jiang.

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