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AVEO Prices Public Offering Of Common Stock

Stocks in this article: AVEO

AVEO Pharmaceuticals, Inc. (NASDAQ: AVEO) today announced the pricing of an underwritten public offering of 6,667,000 shares of its common stock at a price of $7.50 per share to the public. All of the shares are being sold by AVEO. The gross proceeds to AVEO from this offering are expected to be approximately $50.0 million, before deducting underwriting discounts and commissions, and other estimated offering expenses payable by AVEO. The offering is expected to close on or about January 23, 2013, subject to the satisfaction of customary closing conditions.

J.P. Morgan Securities LLC is acting as sole book-running manager for the offering, with RBC Capital Markets, LLC and Canaccord Genuity Inc. acting as co-lead managers. AVEO has granted the underwriters a 30-day option to purchase up to an additional 1,000,050 shares of common stock to cover over-allotments, if any.

A shelf registration statement on Form S-3 relating to the public offering of the shares of common stock described above was filed with the Securities and Exchange Commission (the "SEC") and is effective. The offering is being made by means of a prospectus and related prospectus supplement. Copies of the prospectus supplement may be obtained, when available, from the offices of J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (Telephone number 866-803-9204).

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

About AVEO

AVEO (NASDAQ: AVEO) is a cancer therapeutics company committed to discovering, developing and commercializing targeted therapies to impact patients' lives. AVEO Pharmaceuticals, Inc. conducts business as AVEO Oncology.

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