ArQule Announces Commencement of Proposed Public Offering of Common Stock

From Startup ARQULE

Link to Full Article:

BURLINGTON, Mass.–(BUSINESS WIRE)–Jul. 10, 2018–
ArQule, Inc. (Nasdaq: ARQL) today announced that it has commenced an
underwritten public offering, subject to market and other conditions, to
issue and sell shares of its common stock. In connection with the
offering, ArQule expects to grant the underwriters a 30-day option to
purchase up to an additional 15% of the shares of its common stock
offered in the public offering. There can be no assurances as to whether
or when the offering may be completed, or as to the actual size or terms
of the offering. All of the shares in the offering are to be sold by

The Company intends to use the net proceeds of the offering to fund its
core clinical programs and for general corporate purposes.

Leerink Partners is acting as sole book-running manager for the
offering. Needham & Company is acting as lead manager, and Roth Capital
Partners, B. Riley FBR, Inc. and JonesTrading Institutional Services LLC
are acting as co-managers for the offering.

The securities described above are being offered by ArQule pursuant to a
shelf registration statement on Form S-3 (File. No. 333-213456),
including a base prospectus, that was previously filed by ArQule with
the Securities and Exchange Commission (“SEC”) and declared effective on
October 5, 2016. The offering is being made only by means of a written
prospectus and prospectus supplement that form a part of the
registration statement. A preliminary prospectus supplement and
accompanying prospectus relating to the offering will be filed with the
SEC and will be available on the SEC’s website located at
Copies of the preliminary prospectus supplement and the accompanying
prospectus relating to the offering, when available, also may be
obtained from Leerink Partners LLC, Attention: Syndicate Department, One
Federal Street, 37th Floor, Boston, MA 02110, by telephone at (800)
808-7525, ext. 6132, or by email at

This press release does not constitute an offer to sell or the
solicitation of an offer to buy, nor will there be any sales of these
securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of such jurisdiction.

About ArQule
ArQule is a biopharmaceutical company engaged in the research and
development of targeted therapeutics to treat cancers and rare diseases.
ArQule’s mission is to discover, develop and commercialize novel small
molecule drugs in areas of high unmet need that will dramatically extend
and improve the lives of our patients. Our clinical-stage pipeline
consists of five drug candidates, all of which are in targeted,
biomarker-defined patient populations, making ArQule a leader among
companies our size in precision medicine. ArQule’s pipeline includes:
ARQ 531, an orally bioavailable, potent and reversible inhibitor of both
wild type and C481S-mutant BTK, in a Phase 1 trial for patients with
B-cell malignancies refractory to other therapeutic options; Miransertib
(ARQ 092), a selective inhibitor of the AKT serine/threonine kinase, in
a phase 1/2 company-sponsored trial for Overgrowth Diseases, in a Phase
1 trial for ultra-rare Proteus syndrome conducted by the National
Institutes of Health (NIH), and in a Phase 1b trial in combination with
the hormonal therapy, anastrozole, in patients with advanced endometrial
cancer; ARQ 751 a next generation AKT inhibitor, in a Phase 1 trial for
patients with AKT1 and PI3K mutations; Derazantinib, a multi-kinase
inhibitor designed to preferentially inhibit the fibroblast growth
factor receptor (FGFR) family, in a registrational trial for iCCA; and
ARQ 761, a β-lapachone analog being evaluated as a promoter of
NQO1-mediated programmed cancer cell necrosis, in a Phase 1/2 trial in
multiple oncology indications in partnership with the University of
Texas Southwestern Medical Center. ArQule’s current discovery efforts
are focused on the identification and development of novel kinase
inhibitors, leveraging the Company’s proprietary library of compounds.

Forward Looking Statements

This press release contains forward-looking statements including,
without limitation, statements about ArQule’s expectations regarding the
completion, timing and size of the proposed offering, and its
expectations with respect to granting the underwriters a 30-day option
to purchase additional shares.These statements are based on
ArQule’s current beliefs and expectations, and involve assumptions that
may never materialize or may prove to be incorrect.Actual
results and the timing of events could differ materially from those
anticipated in such forward-looking statements as a result of various
risks and uncertainties, which include, without limitation, risks
associated with market conditions and the satisfaction of closing
conditions related to the proposed public offering, as well as risks and
uncertainties associated with ArQule’s drug development and other
activities.For more detailed information about these risks and
uncertainties, see ArQule’s periodic reports filed with the Securities
and Exchange Commission. ArQule does not undertake any obligation to
publicly update any forward-looking statements.

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Source: ArQule, Inc.

ArQule, Inc.Corporate Contact:Marc Schegerin, MD,
781-994-0440Senior Vice President, Strategy, Communication, and
Contact:LifeSci Public RelationsAllison Blum, Ph.D.,

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2018-07-11 10:09:51